DeFi Traders Push Terra’s UST Stablecoin to $10B Market Cap

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

We are a not for profit Independent Media Group, which survives off donations. Even as little as $5 per month, from our generous readers. Please donate now, to help fund our work.

DeFi Traders Push Terra’s UST Stablecoin to $10B Market Cap

By Tracy Wang

The Terra blockchain’s fast growing stablecoin UST, which had surpassed its rival DAI to become the largest decentralized stablecoin, has how attained another milestone: a market capitalization of $10 billion.

According to the crypto pricing site CoinGecko, the UST market cap pushed past $10 billion on Sunday. As recently as the beginning of 2021, the market capitalization was under $200 million.

Earlier in December, UST overtook rival MakerDao’s decentralized stablecoin DAI, whose market capitalization sits at around $9.4 billion. And DAI has been live since 2017.

The fast growth in UST comes as the Terra blockchain has become a major player in the decentralized finance (DeFi) sector, where stablecoins play a critical role in staking, liquidity management and yield-generating.

 

Terra’s LUNA token has been one of the top performers among all digital assets this year, jumping 15-fold in price to a reported market capitalization of $34 billion, according to the crypto data site Messari.

Last week, Terra overtook Binance Smart Chain (BSC) for second place in total value locked (TVL), a metric used to compare the DeFi activity occurring on various blockchains or for individual projects. According to data provider DeFi Llama, Terra boasts $17.9 billion in locked assets, versus $17.3 billion for BSC. The Ethereum blockchain sits comfortably in first place with over $162 billion in DeFi total value locked.

The most popular DeFi project in the Terra ecosystem is Anchor, a lending protocol with nearly $9 billion in TVL, accounting for over half of all DeFi activity on Terra.

A popular trade involves users depositing UST into the Anchor protocol, where the tokens are subsequently pooled and lent out to interest-paying borrowers. The accrued interest is then distributed pro rata to all depositors, who expect to earn an annual percentage yield (APY) of 20%.

According to data from TokenInsights, nearly $3 billion of all UST have been deposited into Anchor.

 

Editor’s Note: 

Start investing In cryptocurrency with Bitxchange www.bit-xchange.org. If you’re new to the world of crypto and figuring out how to buy cryptocurrencies, then cryptocurrency exchanges like Bitxchange can help you to easily buy and sell crypto.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Support the ANR from as little as $50 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Related News

Truthbook.social offering hundreds of thousands in giveaways for those joining its new social media platform as many desert Facebook in droves because of censoring

Here is some of the current incentives being offered to new users

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

For ANR Smaller Donors please donate below to help fund our critical not for profit work. Together we can defeat mainstream media.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published.

Play Video

McIntyre Report
Political Talk Show

How you can advertise on Truthbook.social

Jamie McIntyre
TruthBook.social Videos

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Ukraine. Military Summary And Analysis 18.08.2022

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Nurses Speak Out

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

We are only 27% funded for next month's operations.

ANR is fully funded by our readers, people like you who often can’t stand mainstream media lies and propaganda. So please help us continue exposing the truth and helping defeat the Globalists and defend your and your children’s futures.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset and help us expose the Covid Fraudsters

just $5 a month helps

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY