TerraClassicUSD (USTC) dominance history up to April 23, 2024
Terra's stablecoin UST - a crypto pegged to the USD but powered by the Luna token - was close to reaching a one percent market share in 2022. Within the crypto world, this so-called "dominance" ratio is one of the oldest and most investigated metrics available. It measures the coin's market cap relative to the overall crypto market - for instance, it shows how strong Bitcoin is compared to all the other cryptocurrencies that are not BTC. The percentage for UST might sound low at first. When compared to the dominance of Decentralized Finance or Finance where stablecoins such as UST play a major role, the coin reveals itself to be one of the main players in this market.