Binance, the world’s largest cryptocurrency exchange, has announced the addition of new trading pairs. Among the newly listed token pairs are TerraClassicUSD (USTC), and SuperVerse. This development comes as the Terra Classic ecosystem tokens, LUNC and USTC, experience a surge in investor interest and defy expectations with their impressive rally.
The decision by Binance to list the USTC trading pair is strategic. It leverages the increasing demand for these tokens. With its vast user base and global reach, Binance is expected to bring additional liquidity and trading volume to the Terra Classic ecosystem.
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USTC, which was once considered a lost cause, has made a remarkable comeback, surging by over 200% following the launch of the USD-M USTC perpetual contract on Binance Futures. This contract allows traders to utilize leverage of up to 50x, injecting significant excitement into the USTC market.
Similarly, LUNC, the native token of the Terra Classic blockchain, has been on a tear, gaining over 85% this month alone. In the past 24 hours, the token’s price has jumped by more than 20%, reaching a high of $0.0001137.
Of particular note is the listing of the USTC and Turkish lira (TRY) trading pair, which aligns with the growing popularity of cryptocurrencies among Turkish users. With hyperinflation in Turkey driving residents towards digital assets as a hedge against the depreciating lira, this move by Binance provides Turkish users with an opportunity to engage with USTC.
Another thing that is noteworthy is that the recent concerns surrounding Terraform Labs’ alleged involvement in Mint Cash, a Korean mobile payments platform, have been addressed by the company. Terraform Labs has categorically denied any such involvement, allaying investor concerns and contributing to the ongoing rally of Terra Classic (LUNC).
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Broader Market Recovery Boosts Terra Classic (LUNC)
The resurgence of Terra Classic (LUNC) can also be attributed to the broader recovery of the cryptocurrency market. As investors regain confidence in the overall market, they are increasingly turning their attention to tokens like USTC and LUNC, which offer the potential for high returns.
Binance’s listing of a new trading pair for USTC marks a significant development for the Terra Classic ecosystem.
This strategic move is expected to further boost the rally of USTC and LUNC, attracting renewed investor interest. The ongoing market recovery, coupled with the denial of Terraform Labs’ involvement in Mint Cash, has contributed to the positive sentiment surrounding Terra Classic.
As the cryptocurrency industry continues to evolve, Binance’s proactive approach to expanding trading options and supporting emerging tokens demonstrates its commitment to driving innovation and providing opportunities for investors.
With the Turkish lira pair catering to the needs of Turkish users seeking refuge from hyperinflation, the future looks promising for USTC and LUNC.