Terra’s UST is now the 3rd largest stablecoin, after surpassing BUSD in market cap
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According to CoinGecko, the market value of Terra’s stablecoin UST reached $17.5 billion on April 18, surpassing BUSD’s $17.4 billion, becoming the third-largest stablecoin after USDT and USDC. Still, UST’s trading volume is very low being 1/5 transactions volume as compared to BUSD.
DO Kwon tweeted that he’s not even aiming for BUSD but going for the big head aka USDT in reference to this quote:
“Just need to 5x, and web3 gets to run on its own sovereign money Hold my beer !”
in layman language: USDT market cap being 80 Billion plus
Obviously, if this happens, we once should assume that LUNA price will also spike up as LUNA is burn to mint UST…
Thoughts ?
submitted by /u/callmemrsunshine
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