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Binance.US Adds Terra UST Stablecoin As Base Pair for Cryptocurrencies

Cory Russell

Apr 24, 2022 09:40

Binance. Today, the United States formally designated UST as the Bitcoin base trading pair.


Since the release of the $10 billion Bitcoin reserve, everyone has been talking about the stablecoin.


LUNA is once again on the verge of setting a new all-time high.


Terra, LUNA, and UST have been attracting a lot of interest from investors, developers, analysts, and traders in the crypto sector for a time now.


The bullish storm that the DeFi chain has sparked isn't going to let up anytime soon. Especially in light of today's events.

UST Is Now A Base Pair

Because UST is a base pair, other cryptocurrencies will be able to trade against it in the same way they can with USD, if the option is available.


Binance disclosed this development earlier this month, along with the delisting of the UST/BTC trading pair and the cancellation of all existing trade orders. UST is currently only available as a Bitcoin base pair.


Binance isn't the first to do so; in fact, OKX, one of the top 20 cryptocurrency exchanges in the world, introduced UST as a base pair for Bitcoin, Ethereum, Solana, and Avalanche earlier this month.


TerraUSD has garnered traction in the market as a result of its CEO Do Kwon's announcement that he intends to create a $10 billion+ UST reserve in Bitcoin.


At its current value, $10 billion in Bitcoin corresponds to roughly 253183.79 BTC, making Terra the largest Bitcoin holder at the time, surpassing MicroStrategy's current holdings of around 129,218 BTC.

At The Moment, LUNA

Terra's native cryptocurrency, LUNA, is presently the year's best-performing asset, with gains of 142.22 percent from February to April and a new all-time high of $119.5 at the same time.


Although LUNA is now trading at $93.5, it is on its approach to gradually exceeding the $120 mark, owing to the 23.5 percent rise seen three days ago.

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