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The stablecoin market is dominated by two giant players — Tether and USDC. ... However, in 2022, a sudden crash eroded confidence in the system, leading to a catastrophic collapse. As investors ...
In May 2022 UST broke its peg with its price plunging to 10 cents, [14] while LUNA fell to "virtually zero", down from an all-time high of $119.51. [15] The collapse wiped out almost $45 billion of market capitalization over the course of a week. [16] On 13 June 2022, Tron's algorithmic stablecoin, USDD, lost its peg to the US Dollar. [17]
Since the creation of bitcoin in 2009, the number of new cryptocurrencies has expanded rapidly. [1]The UK's Financial Conduct Authority estimated there were over 20,000 different cryptocurrencies by the start of 2023, although many of these were no longer traded and would never grow to a significant size.
In July 2022, Circle reported that the circulation of USDC had reached $55 billion. [ 11 ] On March 11, 2023, USDC temporarily lost its peg to the US dollar after Circle revealed that $3.3 billion dollars, about 8% of its reserves, were jeopardized due to the collapse of Silicon Valley Bank the day before. [ 12 ]
In light of a stagnant discussion I have moved the list here to promote and make discussion about its inclusion as an article, or incorporation into the main stablecoin article easier. Do you have any specific thoughts @Praxidicae?--Treehorn 1991 19:07, 19 August 2022 (UTC) It isn't a stagnant discussion.
The stablecoin space. Stablecoins have emerged as one of the most popular types of cryptocurrency over the past few years, and amassed a total market cap of over $200 billion, according to ...
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Terra is a blockchain that leverages fiat-pegged stablecoins to power a payment system. For consensus, the Terra blockchain uses a proof-of-stake codesign. [4] Several stablecoins are built atop the Terra protocol, [4] including TerraUSD, which was the third largest stablecoin by market capitalisation before its collapse in May 2022. [5]