CEO Predicts Terra Ecosystem’s Revival
The CEO of Terraform Labs, Chris Amani, recently shared his prediction on X (formerly Twitter) that the Terra ecosystem will become the leading platform for stablecoin liquidity in Cosmos. He believes that it will be the only ecosystem capable of providing sufficient liquidity for both Cosmos and non-Cosmos blue-chip assets in the decentralized finance (DeFi) space.
Amani, who took over as CEO despite facing challenges, also announced plans to offer free infrastructure to Cosmos-based chains like Terra Classic under the Foundation business model. According to him, this move will make Terra the ideal ecosystem for DeFi builders, as it significantly reduces infrastructure costs.
Governance Proposal and Token Whitelisting
Terra’s head of communication, Zion Schum, revealed a forthcoming governance proposal to whitelist specific LP tokens as Alliance assets. This proposal aims to enhance the ecosystem’s functionality and expand its range of supported tokens.
Rise in Prices and Trading Volume
Terra (LUNA) experienced a 5% price surge within the last 24 hours, currently trading at $0.73. The trading range for the day was between $0.703 and $0.791.
LUNC prices also soared by over 10% due to increased trading volume. The current price is $0.000127, with a 24-hour high of $0.000142. The rise in trading volume indicates growing interest from traders.
USTC prices have increased by over 5% in the last 24 hours after a previous drop of more than 20% in a week. It is currently trading at $0.0289, with a low and high of $0.0271 and $0.0301, respectively.
Hot Take: Terra’s Liquidity Plan Fuels Token Prices
Chris Amani’s announcement of Terra’s deep stablecoin liquidity plan in Cosmos has driven the prices of various tokens, including LUNA, LUNC, and USTC. This initiative aims to position Terra as the go-to platform for DeFi builders and provide the necessary infrastructure at no cost to Cosmos-based chains. The upcoming governance proposal to whitelist specific LP tokens further strengthens Terra’s ecosystem. As a result, traders have shown increased interest in these tokens, leading to significant price surges and trading volume spikes.
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