USDT vs. USDC vs. UST: How Do They Compare?

cryptonews.com:

Stablecoins are taking an increasingly growing market share of the overall crypto markets as the demand for digital dollars continues to rise among crypto investors.

Read on to learn about the similarities and differences between USDT, USDC, and UST in this stablecoin comparison guide.

Tether (USDT), created by Tether Limited, is the world’s leading stablecoin by market capitalization. It is a digital currency tied to the US dollar to keep its value stable.

USDT was designed to be pegged 1:1 to the US dollar. This means while the price of other cryptoassets fluctuates, USDT’s price usually stands around USD 1.

USDT operates on several blockchains, including Ethereum (ETH), Algorand (ALGO), EOS, Solana (SOL), Tron (TRX), and more. Tether can interface with these blockchains to allow for the issuance and redemption of USDT.

The leading stablecoin is backed by cash reserves, unsecured short-term debts, and other dollar-denominated fixed income securities, according to an audit of Tether. It claims that as of 31 December 2021, Tether held USD 78.68bn in assets versus USD 78.54bn in liabilities of which USD 78.48bn relates to digital tokens issued.

While USDT is by far the largest and most liquid stablecoin in the market, it has faced controversies, especially in regard to transparency around its dollar reserves. 

At the time of writing (noon UTC on Friday), USDT has a total market capitalization of over USD 83.5bn.

USD Coin (USDC) is a stablecoin pegged to a ratio of 1:1 with the US dollar. USD Coin, commonly referred to as USDC, was launched in 2018 and is backed by the Centre Consortium (led by Coinbase and Circle). The consortium says its mission is to provide a stable digital currency and create an ecosystem where financial