Cryptocurrency
Terra LUNA and UST Crash: QOZB Capital’s Position
Why did Terra LUNA and UST Crash? Algorithmic stablecoins and how UST became unpegged
QOZB Capital
May 12, 2022
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January saw a significant jump in adjusted on-chain stablecoin volume, according to data collected by The Block Research.
The monthly figure came in at $308.7 billion, exceeding December’s record-setting $178 billion. As expected, some $199 billion of the January number came from USDT, the stablecoin operated by Tether that functions across a number of different blockchains, including Ethereum and Tron. USDC accounted for $63.1 billion of the monthly figure.
The Block’s Eden Au recently penned a deep-dive into the different types of stablecoins, including those collateralized by fiat currencies or cryptocurrencies. Read his research piece here.
Originally published on theblockcrypto.com
Why did Terra LUNA and UST Crash? Algorithmic stablecoins and how UST became unpegged
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