Last week, two tokens linked to the Terra ecosystem surged in price and volume
Both rallies were caused by a Binance listing and a questionable claim of
According to a Kaiko report, USTC daily trading volume rose above $1.3 billion
Last week, USTC and LUNC, tokens linked to the Terra ecosystem, surged in price and volume. According to Kaiko, a market data-providing platform, the surge connects to the Binance exchange listing a highly leveraged USTC derivative, and an “investment of $500 million” into the stablecoin. However, it is not clear whether the latter catalyst actually happened or not.
Why did #Terra ecosystem tokens rally last week?
The surge in price and volume was linked to Binance listing a highly-leveraged USTC derivative and an investment of $500mn into the stablecoin.
Full analysis: https://t.co/q0M2f9MsRV pic.twitter.com/nA3L5RvSsj
On November 27, Binance announced it would launch a USTC Perpetual Contract with up to 50x leverage. Kaiko reported that the launch happened on the same day as a “$500 million stablecoin investment by Terra Classic Labs (TCL)”.
The source of Kaiko’s investment claim wa…
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