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What is the difference between USDT and UST in the cryptocurrency market?

avatarMaher BeringDec 17, 2021 · 3 years ago1 answers

Can you explain the key differences between USDT and UST in the cryptocurrency market? What are their respective purposes and how do they function?

What is the difference between USDT and UST in the cryptocurrency market?
Cryptocurrency
USDT
UST

1 answers

  • avatarDec 17, 2021 · 3 years ago
    USDT and UST are stablecoins that serve different purposes. USDT is primarily used for trading and as a stable store of value, while UST is designed for the Terra network's DeFi ecosystem. USDT is backed by reserves of fiat currency, while UST is algorithmically stabilized. Both stablecoins have their advantages and use cases, and it's important to consider factors such as trust, decentralization, and the specific platform or ecosystem in which they are used.

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