What is UST and how does it affect the coinmarketcap?

3 answers

• Dj last KoboApr 27, 2022 · 3 years ago
  UST, short for TerraUSD, is a stablecoin that is pegged to the US dollar. It is built on the Terra blockchain and aims to provide a stable and decentralized digital currency. UST plays a significant role in the coinmarketcap as it is one of the most widely used stablecoins in the cryptocurrency market. Its value is designed to remain close to $1, which makes it a popular choice for traders and investors to hedge against market volatility. The availability and liquidity of UST on various exchanges also contribute to its impact on the coinmarketcap rankings.
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• Ali DoubaliFeb 28, 2022 · 3 years ago
  UST is a stablecoin that is tied to the value of the US dollar. It is used as a means of exchange and store of value in the cryptocurrency market. The coinmarketcap, as the leading platform for tracking cryptocurrency prices and market capitalization, takes into account the trading volume and market value of UST. Therefore, any significant changes in UST's price or trading activity can have an impact on the overall coinmarketcap rankings. It is important for traders and investors to monitor UST's performance to make informed decisions in the cryptocurrency market.
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• Alfie waldronAug 01, 2022 · 3 years ago
  UST, also known as TerraUSD, is a stablecoin that is backed by a reserve of assets. It is designed to maintain a 1:1 peg with the US dollar, providing stability in the volatile cryptocurrency market. As for its impact on the coinmarketcap, UST's trading volume and market value are taken into consideration when calculating the rankings. The more widely used and traded UST is, the higher its impact on the coinmarketcap rankings. This is why UST's performance and adoption by users and exchanges play a crucial role in determining its effect on the overall coinmarketcap.
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