ViaBTC Capital | After UST’s Fall, Can NEAR’s Stablecoin USN Avoid a Similar ...
Background In May 2022, UST and LUNA, which once recorded a total market cap of over $40 billion, collapsed overnight, and plenty of users suffered huge losses as a result. Following the crash, algorithmic stablecoins have once again become a popular crypto topic. USN, a stablecoin native to an emerging public chain named NEAR, was launched almost at the same time as UST collapsed. The fall of UST showed this nascent stablecoin how the death spiral of an algorithmic stablecoin can engulf and destroy everything like a terrifying black hole, and users also wonder whether USN could avoid a....
Related News
The collapse of algorithmic stablecoin UST created a ripple effect not just in the crypto market but among world regulators as well. The collapse of the Terra ecosystem, which subsequently depegged its algorithmic stablecoin TerraUSD (UST) value and crashed it to an all-time low of $0.30, has cast doubt over the future of not just algorithmic stablecoins but all stablecoins in general.UST’s success and stability were intertwined with its sibling, LUNA, which creates arbitrage opportunities that, in theory, should keep UST’s price steady. If UST’s price drops below $1, it can be burned in....
Five Years of Commitment to Empowering Blockchain Projects 2021 marks another milestone for ViaBTC Group. In August, it established a new brand – ViaBTC Capital, an investment platform integrating capital, resources, and post-investment services. From “developing blockchain products” to “empowering blockchain projects”, ViaBTC Group is constantly exploring new frontiers and taking on new missions. “Innovation For A Better Future” Brand Launch online, October 23 On October 23, 2021, ViaBTC Group will unveil ViaBTC Capital online on its official....
UST market cap has surged to flip BUSD, however, its trading volumes are still only around one-fifth worth of the Binance digital dollar. 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. According to Coingecko, UST’s total market capitalization has surged 15% over the past 30 days to sit at roughly $17.5....
On August 6, 18:30 (UTC+8), the official website of ViaBTC Capital — ViaBTC’s new subsidiary went live, which also marked the official establishment of the newly initiated platform. At the same time, soon as it was incorporated, ViaBTC Capital has launched its first round of venture capital funds towards the global crypto industry, committed to building an investment ecosystem integrating capital, resources and post-investment services. After Five Years of Practice, We Focus on Becoming the Infrastructure Provider for the Blockchain Industry Founded in May 2016, ViaBTC Group is an....
Joined Forces to Explore the Promising Future In August 2021, ViaBTC Capital formed a strategic partnership with Pantera, IOSG, Shima Capital, and other institutions to fuel blockchain innovation. With the vision of “making the world a better place through blockchain”, the strategic alliance focuses on blockchain infrastructure to accelerate the development of the cryptocurrency field. By leveraging strengths, the alliance scouts for innovative budding projects with great prospects and helps aspiring teams to succeed. Funds and resources are provided to developers with bravery....