USD Coin [USDC] vs TerraUSD [UST]- Investors can consider this winner

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It seems like the armies are gear­ing up for a bat­tle of sta­ble­coins. Look­ing at the top ten cryp­tos by mar­ket cap, it’s clear that Teth­er [USDT] reigns supreme. How­ev­er, USD Coin [USDC] is the fifth biggest cryp­to by mar­ket cap and the sec­ond biggest sta­ble­coin. In tenth place at press time was Ter­raUSD [UST].

So, is there a chance of UST knock­ing over USDC any time soon?

Clash of the Titans

For starters, let’s take a look at the mar­ket caps of the two sta­ble­coins. At press time, USDC boast­ed a mar­ket cap of around $49,172,892,190, putting it between BNB [BNB] and Ripple’s XRP.

Mean­while, UST had a mar­ket cap of around $18,639,297,415, putting it between Car­dano [ADA] and Binance USD [BUSD]. As expect­ed, it’s clear that UST needs to more than dou­ble its mar­ket cap to match USDC.

On that note, how­ev­er, let’s com­pare vol­umes for the two sta­ble­coins. USDC saw vol­umes of around 4.12 bil­lion at press time. While vol­umes have been ris­ing since around 24 April, the last sig­nif­i­cant spike took place in Feb­ru­ary 2022.

Source: San­ti­ment

Mean­while, when com­ing to UST, we can see that the sta­ble­coin record­ed vol­umes of around 540.59 mil­lion at press time.  Vol­umes have been con­sis­tent since about 25 April, but it’s unde­ni­able that UST is still a long way off from match­ing up to USDC.

Source: San­ti­ment

What’s your exchange policy?

Look­ing at exchange sup­ply can show us the demand for both sta­ble­coins. At press time, USDC was rapid­ly leav­ing the exchanges, and more than one bil­lion was removed between 2 April and 2 May. This shows boom­ing demand for the asset.

Source: San­ti­ment

On the oth­er hand, UST was also leav­ing the exchanges but said vol­umes were nowhere near those of USDC. In fact, April saw mil­lions of UST return­ing to the exchange before launch­ing into a trend of UST exit­ing exchanges.

Source: San­ti­ment

Final­ly, it’s impor­tant to remem­ber that where Ter­ra is con­cerned, oth­er assets also come into play. In fact, the Luna Foun­da­tion Guard (LFG) Reserves had a total of $1.96 bil­lion at press time. Out of this, around 148.66 mil­lion was in USDC while 26.28 mil­lion was held in USDT.

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