After reaching a capitalization of $ 17.5 billion, stablecoin TerraUSD ranked 12th in the CoinMarketCap rankings. At the same time, UST became the third largest stable coin in terms of capitalization.
In second place is USD Coin (USDC) with 50 billion, while Tether (USDT) tops the list with $ 82.75 billion.
UST's capital is only $ 40 million more than BUSD's. However, trading volume with Binance USD is five times higher than TerraUSD. If 2.26 billion daily transactions were made with BUSD, the trading volume with UST is $ 431 million.
This is not surprising, since Binance is the most popular cryptocurrency exchange, and most of the trading volume of BUSD is on this platform.
In mid-March, Do Kwon, founder and CEO of Terraform Labs, revealed that the Terra project would increase its BTC holdings to $ 10 billion.
They will act as collateral for UST stablecoin. Since then, the organization has repeatedly bought bitcoins and now has 40,000 BTC in the Luna Foundation's wallet worth over $ 1.5 billion.
