Terra's stablecoin UST - a crypto pegged to the USD but powered by the Luna token - was close to reaching a one percent market share in 2022. Within the crypto world, this so-called "dominance" ratio is one of the oldest and most investigated metrics available. It measures the coin's market cap relative to the overall crypto market - for instance, it shows how strong Bitcoin is compared to all the other cryptocurrencies that are not BTC. The percentage for UST might sound low at first. When compared to the dominance of Decentralized Finance or Finance where stablecoins such as UST play a major role, the coin reveals itself to be one of the main players in this market.
TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to January 27, 2025
On May 28, 2022, the creators behind TerraUSD released a 2.0 version of the stablecoin, whilst the "original" TerraUSD coin got rebranded into USTC or TerraClassicUSD . The numbers provided here pre-date this change, and therefore refer to this 1.0 version
Supplementary notes
Monthly figures are as of the end of that particular month.
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Statista, & CoinGecko. (January 27, 2025). TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to January 27, 2025 [Graph]. In Statista. Retrieved February 11, 2025, from https://www.statista.com/statistics/1298256/ust-dominance-historical-development/?__sso_cookie_checker=failed
Statista, und CoinGecko. "TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to January 27, 2025." Chart. January 27, 2025. Statista. Accessed February 11, 2025. https://www.statista.com/statistics/1298256/ust-dominance-historical-development/?__sso_cookie_checker=failed
Statista, CoinGecko. (2025). TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to January 27, 2025. Statista. Statista Inc.. Accessed: February 11, 2025. https://www.statista.com/statistics/1298256/ust-dominance-historical-development/?__sso_cookie_checker=failed
Statista, and CoinGecko. "Terraclassicusd (Ustc) Market Dominance - Its Market Cap Relative to The Market Cap of All Other Cryptocurrencies in The World - from October 2020 to January 27, 2025." Statista, Statista Inc., 27 Jan 2025, https://www.statista.com/statistics/1298256/ust-dominance-historical-development/?__sso_cookie_checker=failed
Statista & CoinGecko, TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to January 27, 2025 Statista, https://www.statista.com/statistics/1298256/ust-dominance-historical-development/?__sso_cookie_checker=failed (last visited February 11, 2025)
TerraClassicUSD (USTC) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from October 2020 to January 27, 2025 [Graph], Statista, & CoinGecko, January 27, 2025. [Online]. Available: https://www.statista.com/statistics/1298256/ust-dominance-historical-development/?__sso_cookie_checker=failed