{"id":21138,"date":"2022-03-17T10:31:39","date_gmt":"2022-03-17T09:31:39","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=21138"},"modified":"2022-03-17T10:31:50","modified_gmt":"2022-03-17T09:31:50","slug":"terrausd-stablecoin-market-cap-reaches-15-billion-for-the-first-time","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/terrausd-stablecoin-market-cap-reaches-15-billion-for-the-first-time\/","title":{"rendered":"TerraUSD Stablecoin Market Cap Reaches $15 Billion for the First Time"},"content":{"rendered":"\n
TerraUSD Stablecoin reaches new high and close to surpassing Dogecoin by market cap<\/h5>\n\n\n\n
\"TerraUSD
TerraUSD Stablecoin Market Cap Reaches $15 Billion for the First Time<\/figcaption><\/figure>\n\n\n\n

TerraUSD Stablecoin Reaches $15 Billion, Close Down on Dogecoin<\/h2>\n\n\n\n

According to CoinMarketCap data, the market cap of the TerraUSD (UST) algorithmic stablecoin has surpassed $15 billion for the first time.<\/p>\n\n\n\n

\"CMC\"
TerraUSD Stablecoin Reaches $15 Billion, Close Down on Dogecoin. Image by\u00a0coinmarketcap.com\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/em><\/figcaption><\/figure>\n\n\n\n

It's on the verge of overtaking meme cryptocurrency Dogecoin,<\/a> which is still in 13th place after months of sluggish price movement.<\/p>\n\n\n\n

LUNA, the Terra blockchain's native token, is currently flat, adding only 0.30 percent.<\/p>\n\n\n\n

After hitting a fresh all-time high of $103.88 on March 9, the cryptocurrency has struggled to continue its momentum. On major spot exchanges, it is now trading at $88.<\/p>\n\n\n\n

LUNA<\/a> held a private token sale last month to raise $1 billion for its Bitcoin-denominated reserve.<\/p>\n\n\n\n

When new UST tokens are minted, the native token's supply is periodically depleted (and vice versa). <\/p>\n\n\n\n

Arbitrageurs are rewarded for maintaining the stablecoin's dollar peg by exchanging it for LUNA at a discount. <\/p>\n\n\n\n

Burning LUNA tokens increases the circulation supply of the stablecoin once it reaches $1.<\/p>\n\n\n\n

Taking a Chance on LUNA's Future<\/h2>\n\n\n\n

Terra exploded in popularity in the second half of 2021, quickly becoming one of the most popular cryptocurrency ventures.<\/p>\n\n\n\n

The so-called “Lunatics” aren't the only ones who are enthralled. <\/p>\n\n\n\n

Many skeptics believe that the cryptocurrency is overvalued, despite the fact that the Terra ecosystem is long-term viable. <\/p>\n\n\n\n

In January, MakerDAO founder Rune Christensen criticized the stablecoin as a “solid Ponzi.”<\/p>\n\n\n\n

Sensei Algod, a crypto trader, bet a million dollars last week that LUNA would sell below $88 on March 14, 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

TerraUSD Stablecoin reaches new high and close to surpassing Dogecoin by market cap TerraUSD Stablecoin Reaches $15 Billion, Close Down on Dogecoin According to CoinMarketCap data, the market cap of the TerraUSD (UST) algorithmic stablecoin has surpassed $15 billion for the first time. It’s on the verge of overtaking meme cryptocurrency Dogecoin, which is still […]<\/p>\n","protected":false},"author":29,"featured_media":14765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[7085,5763,8172],"class_list":["post-21138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dogecoin-news","tag-luna","tag-terrausd-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/Terra-LUNA-price-rises-to-a-new-all-time-high-of-77.16-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/21138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=21138"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/21138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/14765"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=21138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=21138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=21138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}