Terra's Decentralized Stablecoin Hits $10B Milestone
  The biggest crypto news and ideas of the day Dec. 28, 2021 If you were forwarded this newsletter and would like to receive it, sign up here. Sponsored by  Welcome to The Node.
Questions? Feedback? We'd love to hear from you! Simply reply to this email.
Today's must-reads Top Shelf  DEFI'S DOLLAR: The Terra blockchain's fast growing stablecoin UST, which had surpassed its rival DAI to become the world's largest decentralized stablecoin by market value, has now attained another milestone: a market capitalization of $10 billion. The fast growth in UST comes as the Terra blockchain has become a major player in the decentralized finance (DeFi) sector, where stablecoins play a critical role in staking, liquidity management and yield-generating.
SEEING RED: A drop in crypto markets from Monday evening (UTC) prompted almost $300 million in liquidations across several crypto futures contracts, data from analytics tool Coinglass showed. More than 109,000 traders' positions were liquidated in the past 24 hours. Bitcoin prices rose above $52,000 on Monday before tumbling by as much as $3,000 early Tuesday, causing over $94 million in liquidations. The whole market is seeing red, with Polkadot's DOT token leading the losses among altcoins.
BINANCE & BAHRAIN: Bahrain has become the first Middle East-North Africa country to approve Binance as a crypto asset service provider. The world's leading cryptocurrency exchange by trading volume still has to complete the full Bahraini licensing application. This comes as Binance Canada Capital Markets registers with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the country's anti-money laundering and anti-terrorism financing regulator, amid growing attempts to operate above the board.
METAVERSE DISPATCH: Luxury marketplace UNXD, which is built on the Polygon network, and Decentraland, a virtual reality platform built on the Ethereum blockchain, plan to offer a metaverse fashion week with catwalk shows, pop-up shops and afterparties in March. Meanwhile, Ready Player Me, a startup focused on in-game "wearables," raised $13 million. Finally, Ozzy Osbourne, the former lead singer of the heavy metal band Black Sabbath who purportedly bit the head off a bat during a 1982 concert, is making his first foray into NFTs.
A message from Nexo  When it comes to buying, borrowing or earning on your crypto, you won't find and easier, safer way to do it than Nexo.
And here's what'll happen next: you and your referrals will both get $25 in BTC within 30 days of them passing Advanced Verification and topping up the equivalent of $100 or more of any asset supported on the Nexo platform.
There's no limit on the number of people you can refer, so invite as many friends as you'd like!
What others are writing... Off-Chain Signals 
A message from Horizen  Happy Holidays from the Horizen Team! Join our holiday giveaway to win some $ZEN!
Horizen is the zero-knowledge network of blockchains powered by the largest and most decentralized node system. Its blockchain deployment protocol, Zendoo, is live on mainnet as of Dec. 1st, 2021!
Zendoo enables developers and businesses to deploy private and public blockchains with unmet scalability, flexibility, and throughput to support any real-world needs.
Sponsored Content NEAR Predictions: Creatives Ready to Level-Up
NEAR was always meant to be more than just a blockchain protocol with a few financial tools. Instead, the team behind the platform wanted to foster community and creativity in as many forms as possible.
Now, the possibility for communities beyond financial speculators is expanding at a rapid clip. Long past are the anecdotes of early Bitcoin, where new adopters came in the form of stray systems designers or hedge fund managers quitting their jobs to go all in on crypto.
Today, we're seeing professional migration on a much larger scale: huge companies creating virtual worlds built with rare digital items, as brand names like Facebook, Nike, the NBA and more have signaled.
The Chaser... 
The Node A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here. Copyright © 2021 CoinDesk, All rights reserved. 250 Park Avenue South New York, NY 10003, USA Manage your newsletter subscriptions | Unsubscribe from all CoinDesk email |
