Terra Classic

Terra

Coin

<ul class="news-points"> 
 <li>Last week, two tokens linked to the Terra ecosystem surged in price and volume</li> 
 <li>Both rallies were caused by a Binance listing and a questionable claim of</li> 
 <li>According to a Kaiko report, USTC daily trading volume rose above $1.3 billion</li> 
</ul> 
Last week, USTC and LUNC, tokens linked to the Terra ecosystem, surged in price and volume. According to Kaiko, a market data-providing platform, the surge connects to the Binance exchange listing a highly leveraged USTC derivative, and an “investment of $500 million” into the stablecoin. However, it is not clear whether the latter catalyst actually happened or not. 
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 Why did <a href="https://twitter.com/hashtag/Terra?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Terra</a> ecosystem tokens rally last week? The surge in price and volume was linked to Binance listing a highly-leveraged USTC derivative and an investment of $500mn into the stablecoin. Full analysis: <a href="https://t.co/q0M2f9MsRV" target="_blank" rel="nofollow">https://t.co/q0M2f9MsRV</a> <a href="https://t.co/nA3L5RvSsj" target="_blank" rel="nofollow">pic.twitter.com/nA3L5RvSsj</a>— Kaiko (@KaikoData) <a href="https://twitter.com/KaikoData/status/1733058198024733014?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 8, 2023</a>
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On November 27, Binance <a href="https://www.binance.com/en/support/announcement/binance-futures-will-launch-usd%E2%93%A2-m-ustc-perpetual-contract-with-up-to-50x-leverage-91deccb2e146483383617db8b8fcaba1" target="_blank" rel="nofollow">announced</a> it would launch a USTC Perpetual Contract with up to 50x leverage. Kaiko reported that the launch happened on the same day as a “$500 million stablecoin investment by Terra Classic Labs (TCL)”.&nbsp; 
The source of Kaiko’s investment claim wa…
The post <a href="https://coinedition.com/terra-ecosystems-tokens-surged-following-ustc-listing-on-binance/">Terra Ecosystem’s Tokens Surged Following USTC Listing on Binance</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Terra Ecosystem’s Tokens Surged Following USTC Listing on Binance

Coin Edition

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