TerraUSD

New Draft Legislation Proposes Two-Year Ban on Stablecoins Like TerraUSD

Next week, the House Financial Services committee will vote on legislation to regulate stablecoins. As per details, the draft bill proposes a complete two-year ban on algorithmic stablecoins like the TerraUSD. The TerraUSD stablecoin witnessed a severe crash earlier this year in May 2022 eroding more than $40 billion of investors’ wealth. Since then, the The post New Draft Legislation Proposes Two-Year Ban on Stablecoins Like TerraUSD appeared first on CoinGape.

UST goes rogue, but Neutrino USD [USDN] ‘depeg(s)’ a different story

As Bitcoin crashed below the $32k support level, panic took hold of the market and alt coins began to violently plunge as well. This time, even the stablecoins were not spared as TerraUSD [UST] dropped as low as $0.6879, and was trading at $0.9006 at press time. This understandably caused quite a FUD storm, as […]

Tron: Stablecoin USDD went live this week, here’s how TRX reacted

TerraUSD’s (UST) growth over the last couple of weeks has brought a shift of sorts in the stablecoin world, with people now realizing the importance of decentralized stablecoins. Tron brings USDD Tron recently announced the launch of its own decentralized stablecoin USDD to capitalize on the innovative opportunity, and the same went live a day […]

USD Coin [USDC] vs TerraUSD [UST]- Investors can consider this winner

It seems like the armies are gearing up for a battle of stablecoins. Looking at the top ten cryptos by market cap, it’s clear that Tether [USDT] reigns supreme. However, USD Coin [USDC] is the fifth biggest crypto by market cap and the second biggest stablecoin. In tenth place at press time was TerraUSD [UST]. […]

The culprit behind Avalanche [AVAX] falling out of the top 10 crypto list could be…

It’s always a shock to wake up and find you’re not one of the top 10 anymore. In fact, that was what happened to Avalanche [AVAX] as two stablecoins and a meme coin pushed ahead of it in terms of market cap ranking so that AVAX was crypto #13 at press time. Who pushed ahead? […]

Terra’s UST Reserves Hit One-Month Low, Here’s Why

A recent decline in the crypto market was reflected in Terra’s stablecoin reserves, which sank to a one-month low this week. The reserves, which are maintained by the Luna Foundation Guard (LFG), have a high concentration of Bitcoin. The overall value of the reserve now stands at $2.4 billion, according to data from the data The post Terra’s UST Reserves Hit One-Month Low, Here’s Why appeared first on CoinGape.

Terra's Anchor Protocol erases 'crypto winter' losses, ANC price rebounds 300% in a month

ANC price risks becoming overheated, however, after a major rally. Anchor Protocol (ANC), the decentralized finance (DeFi) platform built on the Terra blockchain protocol, rebounded nearly 300% in over a month after bottoming out near $1.26.ANC price went as high as $4.97 on the Bitfinex cryptocurrency exchange on March 3, 2022, breaking above the previous record peak near $4.50 established on Dec. 3 last year. In doing so, the Anchor Protocol also erased all the losses it h

Terra price gains 75% in February as $2.57B in LUNA tokens removed from supply

The token burn appears as the supply of UST, Terra's stablecoin, rises by nearly 14.75% in the month. Terra (LUNA) emerged as one of the best performing financial assets in February, a month mired by geopolitical conflicts and their negative impacts on the crypto market.LUNA decouples from the crypto marketLUNA's price surged by a little over 75% to reach $91.50 at the month's UTC close. In comparison, the percentage performance of other top tokens, mainly Bitcoin (BTC) and