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The world of cryptocurrency is definitely a profitable one. The downside, however, is the high level of risk involved. Due to the volatile price movements of cryptocurrencies such as Bitcoin, Ether and Dogecoin, more investors are now acquiring stablecoins like Terra to diversify their portfolios.
According to Decrypt, UST overtook DAI to become the most valuable decentralized stablecoin by market capitalization. In March 2022, the market capitalizations for UST and DAI were $15.3 billion and $9.8 billion, respectively.
The rising popularity of TerraUSD has benefited Terraform Labs, which oversees the Terra cryptocurrency project. As reported by Analytics Steps, investors such as Lightspeed Venture Partners, Arrington Capital and Pantera Capital have invested $150 million to help Terra develop various cryptocurrency projects — e.g., Dogecoin and Shiba Inu.