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

Aaryamann Shrivastava
Published: Apr 22, 2022, 19:05 GMT+00:00

As announced by the US arm of Binance, UST as a trading pair for Binance went live recently after OKX did the same earlier this month.

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

In this article:

Key Insights:

  • Binance.US officially listed UST as the base trading pair for Bitcoin today.
  • The stablecoin has had everyone’s attention ever since the $10B Bitcoin reserve announcement.
  • LUNA is nearing a new all-time high once again.

Terra, LUNA, and UST, these three words have been noticing a lot of attention from investors, developers, analysts, and traders for a while now in the crypto space.

The bullish storm that the DeFi chain has created will not slow down anytime soon. Especially not after today’s development.

UST Becomes a Base Pair

Being a base pair, other cryptocurrencies will be trading against UST as they currently do with USD, provided the option is available for them.

Earlier this month, Binance announced this development as it also announced that it would be delisting the UST/BTC trading pair closing all open trading orders. Currently, UST is only available as a base pair for Bitcoin.

However, Binance isn’t the first to do this since, at the beginning of this month, OKX, one of the top 20 cryptocurrency exchanges in the world, also added UST as a base pair for Bitcoin, Ethereum, Solana, and Avalanche.

TerraUSD has gained prominence in the space owing to its CEO Do Kwon’s statement about creating a $10 billion+ UST reserve in Bitcoin.

At its current value, $10 billion worth of Bitcoin translates to about 253183.79 BTC, which, if acquired by Terra, would make it the biggest holder of Bitcoin then, even higher than MicroStrategy’s current holdings, which is approximately 129,218 BTC.

LUNA, at the Moment

Terra’s native cryptocurrency LUNA is currently the best performing asset of the year, which gains between February to April, reaching 142.22%, marking a new all-time high of $119.5 at the same time.

Although trading at $93.5 LUNA is below forming a new ATH, it is on the way to breaching the $120 level gradually, thanks to the 23.5% rally observed three days ago.

LUNA is climbing the charts again after marking a new ATH this month

About the Author

Holding a Mass Media Degree has enabled me to better understand the nitty-gritty of being a journalist and writing about cryptocurrencies’ news and price movements, effects of market developments, and the butterfly effect of individual assets nurtured me into a better investor as well.

Did you find this article useful?