This comes after the UST stablecoin lost its peg, plunging to an intraday low of $0.932008. After attempting to recover, it keeps trading below the $0.94 level at press time. UST is an algorithmic stablecoin, which means that it maintains its stability with the help of algorithms programming instead of centralized entities like Tether or Circle. a Bitcoin wallet containing $1.4 billion in order to shore up the embattled stablecoin.
In addition, the Terra network has already started experiencing some broadcast delays per network congestion. UST has now surpassed its sister token by market capitalization. The two are valued at $17 billion and $15.9 billion, respectively.
There will be no coin in the top 10 soon
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