Stablecoins Maker (DAI) and TerraUSD (UST) are starting to show intense competition from the aspect of asset demand in the market.
Based on observations, DAI has a market value of $ 8.825 billion, higher than UST which only recorded $ 8.805 billion.
Indirectly, UST is in 5th position ahead of DAI which is in 4th position, after Binance USD (BUSD) which is in 3rd position, ahead of USD Coin (USDC) which is 2nd, and Tether ( USDT) topped the chart.
For the record, UST recorded remarkable growth with a jump of up to over 90% over the past 30 days.
The situation puts UST as a stablecoin that is chasing DAI as the growth of Maker ecosystem assets only recorded an increase of 3% over the same period.
Meanwhile, Terra native token (LUNA) also caught the attention of investors after rising in the top 10 crypto charts with a 58% jump overnight.
One of the factors that invited the increase of these two Terra assets stems from the burning of coins.
In addition, the dumping of decentralized financial protocols (DeFi) entrenched in the Terra network caused demand pressures on UST.
So it is no wonder why Terra (UST) and (LUNA) recorded price increases in a short period of time.
