FTX adds support for Terra’s UST stablecoin

The cryptocurrency exchange FTX has added support for Terra’s algorithmic stablecoin UST.

FTX now supports native Terra UST!@terra_money #Terra $UST pic.twitter.com/RPzCXVL6dt

— FTX (@FTX_Official) March 6, 2022

Earlier, UST/USDT and UST/USD pairs appeared on the exchange for spot trading and perpetual-contract trading.

In CoinGecko’s market capitalization ranking, the asset TerraUSD (UST) occupies the 14th spot with a value of $13.6 billion, ahead of the decentralized stablecoin DAI from Maker ($9.46 billion).

The market capitalization of the LUNA token, Terra’s ecosystem, is $29.4 billion (7th in the ranking).

Against the backdrop of rising stablecoins and the popularity of Terra DeFi ecosystem services, UST’s market capitalization has grown 36% year-to-date to $13.6 billion.

Previously, the value of LUNA in staking exceeded $30 billion.

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