Cryptocurrency News

Terra’s UST flips BUSD to become third-largest stablecoin

04/18/2022

Less than a minute

2022.04.18 09:51

Terra's UST flips BUSD to become third-largest stablecoin
Terra’s UST flips BUSD to become third-largest stablecoin

The Terra (LUNA) blockchain’s algorithmic stablecoin Terra USD (UST) has flipped Binance USD (BUSD) to become the third-largest stablecoin on the market.

UST is a USD-pegged stablecoin that was launched in September 2020. Its minting mechanism requires a user to burn a reserve asset such as LUNA to mint an equivalent amount of UST.

04/18/2022

Less than a minute

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