After Terra’s fall to Earth, get ready for the stablecoin era
Did May’s algorithmic stablecoin crashes kill the concept, or is there still a role for fiat-pegged cryptocurrencies? Stablecoins were supposed to be the boring uncle of the crypto world — safe, sensible and dull. They’re probably not what Satoshi Nakamoto had in mind, but they’re supposed to be a reassuring haven of calm and utility away from the turbulence of pure-play cryptocurrencies.With values pegged to fiat currencies, stablecoins were intended to be useful rather than to offer get-rich-quick schemes. They play an important role in the cryptocurrency ecosystem by providing a safer....
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DAI tops it off as the strongest stablecoin to date despite Terra’s plunge. USDT and UST may have plummeted – but not DAI. It’s been a brutal two weeks in the crypto space especially with the devastating collapse of Terra’s stablecoin UST, which is currently trading at a little below 6 cents. Suggested Reading | […]
Next Earth expands its Metaverse with the first-ever transportation layer Say goodbye to the hassles of traditional travel with Next Earth Everything you think about traveling is worth reconsidering because Next Earth has taken transport to a whole new level. Next Earth, sustainability-focused Metaverse with nearly 240,000 users and over 45,000 virtual landowners, has announced […]
The algorithmic stablecoin stemming from the Terra (LUNA) network has become the third-largest stablecoin token in terms of market capitalization at $17.54 billion. As of today, UST’s market capitalization has surpassed the BSC-based stablecoin BUSD by more than $67 million.
Stablecoin Terrausd Surpasses BUSD’s Market Valuation
There’s a new leader in the world of stablecoins, as Terra’s dollar-pegged algorithmic cryptocurrency now commands the third-largest stablecoin position, in terms of overall market valuation. Statistics indicate that....
The two main organizations behind the development of the Terra blockchain have purchased a combined $200M in AVAX while Near Protocol is rumored to release a new stablecoin. Terraform Labs (TFL) and the Luna Foundation Guard (LFG) have announced they have purchased a combined $200 million worth of AVAX tokens from the Avalanche Foundation. TFL, the company responsible for the development of the Terra blockchain, swapped $100 million worth of Terra’s native token, LUNA for AVAX tokens, in order to “strategically align ecosystem incentives”, according to Terra’s twitter. LFG, a non-profit....
The crypto market has seen better days, with the majority of currencies seeing a price slump in the past few months. Next Earth, however, is bucking the trend, having raised $2.1 million from 3,100 users in its recent token presale. Next Earth is a decentralized platform that is designed to be a replica of Earth. […]