3 Stablecoins Command Positions in the Crypto Economy’s Top 10, Another Fiat-Pegged Token Is Close to Joining
The last five weeks has been brutal for digital currencies as more than 21% has been shaved off the crypto economy’s fiat value since March 27. While all the crypto assets combined shed roughly 0.8% in the last 24 hours, bitcoin has lost 9.4% since last week and seven day statistics show ethereum has dropped 8.1% against the U.S. dollar. Since the crypto economy’s significant losses, the stablecoin UST has managed to take the top ten market capitalization among 13,439 crypto assets. 3 Stablecoins Hold Top 10 Positions, Terrausd Enters the 10th Spot Today, three stablecoins now command a position in the top ten largest cryptocurrency market capitalizations. While tether ( USDT ) and usd coin (USDC) have been in the top ten for quite some time, Terra’s UST is now holding the top ten spot since the crypto economy’s market conditions turned red. Another fundamental that pushed UST higher is the fact that the algorithmic stablecoin’s market valuation expanded by 12.3% over the last 30 da