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09.01 - 12:41
UST by Terra overtakes DAI, becomes the fourth largest stablecoin by market capitalization
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Terra's US dollar-pegged stablecoin UST has surpassed DAI, its stablecoin equivalent created by MakerDao, the oldest-operating decentralized stablecoin in the market, surging to number four in terms of market capitalization.
While UST currently has a market capitalization of about $9 billion ($9,216,965,278), its counterpart DAI has a market cap of about $8.9 billion ($8,969,084,150), per data from CoinGecko.
While Tether (USDT) reigns at the top with a market cap of around $77 billion ($77,549,775,071), USD coin (USDC) comes a far second, commanding a market cap of $42 billion ($42,394,442,724). Binance USD (BUSD) features in the third place, with a market cap of $14 billion ($14,449,979,414).
But what distinguishes USDT, USDC and BUSD from
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