Terraforms Labs confirms the breakthrough of its Terra blockchain. Its stablecoin, UST, increased its market capitalization by 45 times during the year.
One of the fastest growing sectors in 2021 in the field of cryptocurrency is that of stablecoins, or digital currencies, whose value is stable – usually equal to one dollar. In November 2021, a report from the US Treasury estimated the growth of this market at 500% during the previous 12 months.
So far, we have known three big leaders in this sector: the USDT of Tether, the USDT of Coinbase and the BUSD of Binance. In addition, in the DeFi sector (decentralized finance), a stablecoin had marked the young history of the domain, the DAI of MakerDAO – based on Ethereum.
Surprisingly, a stablecoin imposed itself on a speed meteoric during the year: the UST of TerraForms Lab. Its capitalization stood at some $ 200 million in January. It exceeded $ 9 billion in December. The UST has thus dethroned the DAI and is now in the Top 20 of cryptocurrencies.
A consecration for Terra Luna
For the blockchain Terra of Terraforms Lab, we have here an additional confirmation of a real dedication. Because the Terra Luna currency has recently entered the closed circle of the world’s top 10 cryptocurrencies, ejecting from this classification “canine” coins such as Doge and Shiba. Positioned in 9e position, it is immediately followed by another promising young currency, the Avax de Avalanche.
In other words, the year 2021 was a year rich in twists and turns in a sector where the first places are still to be taken before the market stabilizes inevitably.
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