Nox Bitcoin, a cryptocurrency exchange in Brazil, has taken the unprecedented step of using its own funds to refund customers for their TerraUSD coins at the full rate. Following local media’s report on May 20, the Nox Bitcoin exchange has refunded all UST holders at a $1 rate with Tether’s USDT. The report stated that…
Investors continue to trade the LUNA token despite its enormous fall, seeing the coin lose 99% of its value from $62 on May 9 down to less than a cent by May 14. However, on May 20, LUNA remains the most trending cryptocurrency searched on CoinMarketCap. With a market cap of $918 million, LUNA is…
The circulating supply of LUNA has continuously gone up since the UST debacle began. This has mainly been from people redeeming their staked UST for the digital asset, which caused its supply to rise drastically in such a short amount of time. In turn, the price of LUNA had declined to reflect the enormous amount…
The whole UST debacle has seen traders emboldened in the market against stablecoins. The result of this had been more investors going after the pegs of other stablecoins such as USDT and trying to see if they can destabilize the coin. Most prominent of this had been Tether USD, whose peg saw the most opposition…
With the market in turmoil, crypto investors are beginning to turn to stablecoins such as USDT and USDC to provide cover from losses. These stablecoins which are pegged to the U.S. dollar have been the obvious winners from the recent crash but it seems that investors are taking it one step further this time around.…
Shiba Inu is proving that despite the previous weeks’ turmoil in the broader crypto market, it can stand its ground and be unfazed by what’s going on. Following a severe selloff in the previous session, major crypto tokens recovered on Wednesday. However, the increases were modest, indicating sluggish market confidence. Dogecoin and Shiba Inu, commonly…
Terra’s US dollar-pegged algorithmic cryptocurrency UST is moving up the ladder and now ranks third in terms of overall market capitalization. Today, the fast-growing Terra USD (UST) stablecoin from the Terra ecosystem passed another pivotal point, reaching a market valuation of more over $17 billion. As of Tuesday, UST had eclipsed the BSC-based stablecoin BUSD…
There has been fast growth in the stablecoin economy, with a recent total of $187 billion, which is quite near the $200 billion thresholds. Stablecoins like Terra’s UST and Neutrino Protocol’s USDN are gaining popularity even as Tether remains the most widely used. They experienced a nearly 30% and a 44% rise in issuance in…
It’s safe to say that DeFi is booming lately – and Terra’s stablecoin UST has swiftly emerged as a powerhouse player in DeFi, swimming among of sea of centralized tokens such as Tether’s USDT and Circle’s USDC. DeFi is wholeheartedly embracing UST, and new protocol integrations are popping up faster than most can keep up…