Saturday, June 25

TerraUSD (UST) Adoption Supports LUNA’s Rise To New All-Time High By CoinTelegraph

© Reuters. TerraUSD (UST) Adoption Supports LUNA’s Rise to New All-Time High

Stablecoins are an integral part of the centralized cryptocurrency sector and decentralized financial ecosystems (DeFi) that have emerged over the course of recent years, as they provide the liquidity necessary for traders to easily switch to different assets. They also serve as a refuge from strong downward swings, such as the 25% correction observed on December 3.

One project with a stablecoin component that has seen its price rise to a new all-time high despite the broader market pullback is (LUNA), a multi-sector blockchain protocol aimed at building a global payments system by using a stablecoin with fiat parity called TerraUSD (UST).

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $ 37.86 on November 26, LUNA’s price has risen 106% to hit a new all-time high of $ 78.43 on December 5, while Its 24-hour trading volume reached a record $ 5.66 billion.

Read the full article on Cointelegraph

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