UST has surpassed BUSD to become the third largest stablecoin

By    20 Apr,2022

Luna Foundation Guard (LFG), a non-profit organization dedicated to supporting the development of the Terra ecosystem, has been accumulating more Bitcoin and AVAX. LFG currently has over 42,000 BTC and is working towards an ambitious goal of $10 billion in BTC.

As a result of all these headlines, LUNA tokens are at an all-time high. The Terra network plans to add 160 additional projects by the end of the year, which will significantly increase the total value of the network.

While UST is still trading at one-fifth of BUSD's volume, surpassing BUSD's market cap is no easy task. This is bound to raise some eyebrows, especially since Terra co-founder Do Kwon has previously stated that "DAI will die in his hands".

Terra and UST are controversial.

Not everything about the Terra ecosystem has been positive. Its dramatic growth this year has sparked intense debate and controversy, with some questioning its long-term viability.

Due to concerns about the price of LUNA tokens, Kwon accepted $10 million and $1 million bets that it would not fall below $88 in a year. These were big bets, but Do Kwon seemed optimistic that the price of LUNA would rise in the future.

Then Do Kwon received a subpoena at a public meeting of the Securities and Exchange Commission (SEC). After receiving the subpoena, Terraform Labs filed a lawsuit against the SEC.




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