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WebsCrypto—News—Data Shows Investors Turn To Other Stablecoins as Terra Continues to Crash
News

Data Shows Investors Turn To Other Stablecoins as Terra Continues to Crash

By WebsCryptoMay 14, 20221 Min Read
Data Shows Investors Turn To Other Stablecoins as Terra Continues to Crash
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With Terra continuing to crumble, investors have turned to other stablecoins such as DAI and the MakerDAO governance TokenMKR. According to CoinMarketCap data, MKR’s market value has now reached $1.4 billion, making it the eighth-largest DeFi token by market value.

At the same time, DAI has also become the fourth-largest stablecoin by market value, with a market value of $6.47 billion. According to DeFiLlama data, the market’s recent surge in interest in MKR is expected to propel it to become the second-largest DeFi token by market value.

As of this Friday (May 13), MakerDAO’s lock-up volume has surpassed Curve, SushiSwap and Lido. It is worth mentioning that during the falling TerraUSD, MakerDAO’s official social media also wrote a special article saying that “The Maker protocol is healthy, liquid and solvent, with a 164% collateralization rate and billions of liquidity reserves. All DAI is all over-collateralized.”

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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