UST, the main stable currency of the Terra project, is being integrated into Binance and Huobi, two leading exchanges in terms of trading volume, expanding the options for users to trade stablecoins. After these announcements, the price of LUNA, the governance asset of the Terra project, broke the previous record high and exceeded $100 for the first time in its history.

UST receives the attention of Huobi and Binance

UST is the most commonly used stable currency in the Terra project and has now reached a milestone. In terms of transaction volume, two leading exchanges have incorporated it into their platforms. Asian Exchange Huobi, Announce It will include the asset in its Pioneer Zone on December 23 and launch a competition to attract new currency transactions, offering 210,000 UST to platform users.

Binance also Report The stablecoin was listed on the same day, and said it will provide three different UST trading pairs: UST/Bitcoin, UST / BUSD, and UST /USDT. In contrast, Huobi only confirmed one trading pair and opposed USDTThis news was warmly welcomed by Do Kwon, the founder and CEO of Terraform Labs, and celebrated for it. statement:

There is actually no reason to put your Internet funds at risk of censorship. Happy Holidays everyone!

LUNA breaks the record again

The market value of Terra stablecoin is experienced In the last week alone, there was a significant increase, from $8.8 billion on December 18 to nearly $9.8 billion on December 24. Just after Binance’s announcement, more than 200 million USTs were issued. Depending on the dynamics of the token issuance, this may affect the price increase of LUNA.

LUNA is the governance token of the Terra project, used to mint UST. As more USTs are cast, the supply of LUNA decreases, making it a more scarce product. Depending on market conditions, this may lead to a hypothetical price increase.

LUNA’s price reaction after the listing announcement favorable, Breaking the recent historical high of just over $80 set on December 20. Flip DAI, the stable currency collateralized by Ethereum, is the most valuable decentralized stable currency cryptocurrency project. The price of LUNA reached US$100.84 yesterday with the help of a general rebound in the cryptocurrency market, and has since fallen back to a little over US$95.

What do you think of the listing of UST on Binance and Huobi, and the recent price increase of LUNA? Tell us in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He described himself late and entered the crypto space when prices rose in December 2017. With a background in computer engineering, living in Venezuela, and being affected by the cryptocurrency boom at the social level, he offers a different perspective on the success of cryptography and how it can help people without bank accounts and underserved people.

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