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.
TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to September 25, 2024
On May 28, 2022, the creators behind TerraUSD released a 2.0 version of the stablecoin, whilst the "original" TerraUSD coin got rebranded into USTC or TerraClassicUSD . The numbers provided here pre-date this change, and therefore refer to this 1.0 version
Supplementary notes
Monthly figures are as of the end of that particular month.
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Statista, & CoinGecko. (September 25, 2024). TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to September 25, 2024 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298256/ust-dominance-historical-development/
Statista, und CoinGecko. "TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to September 25, 2024." Chart. September 25, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298256/ust-dominance-historical-development/
Statista, CoinGecko. (2024). TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to September 25, 2024. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298256/ust-dominance-historical-development/
Statista, and CoinGecko. "Terraclassicusd (Ustc) Market Dominance - Its Market Cap Relative to The Market Cap of All Other Cryptocurrencies in The World - from October 2020 to September 25, 2024." Statista, Statista Inc., 25 Sep 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298256/ust-dominance-historical-development/
Statista & CoinGecko, TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to September 25, 2024 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298256/ust-dominance-historical-development/ (last visited November 10, 2024)
TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to September 25, 2024 [Graph], Statista, & CoinGecko, September 25, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298256/ust-dominance-historical-development/
