Terra USD (UST), the Terra (LUNA) blockchain's algorithmic stablecoin, has surpassed Binance USD (BUSD) to become the market's third-largest stablecoin.
The UST stablecoin was created in September 2020 and is tied to the US dollar. Its minting system necessitates burning a reserve asset, such as LUNA to generate an equivalent quantity of UST.
UST's overall market value has risen 15% in the last 30 days, reaching almost $17.5 billion at the time of writing, as per Coingecko. After flipping BUSD with a lesser market worth of $17.46 billion, the statistic now positions UST as the third-largest stablecoin.
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The asset is now lagging market leaders Tether (USDT) at $82.8 billion and USD Coin (USDC) at $50 billion, although the gap is wide.
The data also reveals that UST has been on a parabolic rise since mid-November, with a 525% increase in market capitalization.
Despite having a larger market value than BUSD, UST is trading in far lower quantities. Binance's stablecoin has witnessed $2.26 billion in trading activity over the last 24 hours compared to UST's $431.79 million.
AMC Theatres, a pro-crypto movie theater operator in the United States, has modified its mobile app services to take Dogecoin (DOGE), Shibu Inu (SHIB), and other cryptocurrencies as payment.
On November 12, 2021, AMC Theatres began embracing crypto payments, allowing consumers to buy movie tickets online using Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) (LTC).
Adam Aron, the CEO of AMC Theatres, told followers in a tweet on Jan. 6, 2022, that the meme tokens DOGE and SHIB will be included by March. Aron's team delivered, although a little late.
Aron said in the release that the AMC Theatres iOS and Android mobile apps would be able to take cryptocurrency payments thanks to a partnership with BitPay, a bitcoin payment service company.
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The identities of the other newly supported cryptocurrencies, on the other hand, are yet to be released. Users in the United States should download the most recent version of the mobile app to use the functionality.
