UST, one of the stablecoins from the Terra project, has become the most valuable project by market cap after flipping its Ethereum-based rival, DAI. UST is now the largest decentralized stablecoin in the market, closing a year of growth for the Terra ecosystem. In addition, UST cements its new position as the fourth stablecoin, behind USDT, USDC, and BUSD, all centralized stablecoins.