Terra crash not a risk to the broader crypto ecosystem, says Huobi Global CEO
Du Jun, CEO of Huobi Global, told Cointelegraph that the Terra crash will slow down investor enthusiasm in the short term, but in the long term, the demand will recover. As the fall of Terra (LUNA) and TerraUSD (UST) may have a noticeable short-term impact on the decision-making of both retail and institutional investors, it doesn’t pose a risk to the larger crypto ecosystem, according to Du Jun, CEO of Huobi Global CEO. In an interview with Cointelegraph, Jun explained that the collapse of Terra will affect the ecosystem by slowing down investor interest in crypto as an asset class.....
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UST, the main stablecoin of the Terra project, is being integrated into Binance and Huobi, two leading exchanges by trading volume, expanding the options that users have to trade the stablecoin. After these announcements, The price of LUNA, the governance asset of the Terra project, broke its previous all-time high, going over $100 for the first time in its history.
UST Gets Attention From Huobi and Binance
UST, the most used stablecoin from the Terra project, has reached a milestone now that two leading exchanges by volume traded have included it in their platforms. Huobi, an....
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The Terra LUNA crash last month sent many investors back in their returns. The crypto market generally crashed the previous month, but the 80% deep dive in Terra wasn’t funny. The panic by the investors to pull out of the crypto crash intensified the fall of many coins. Generally, the crypto market suffered a loss estimated at $400 billion in a few days. Surprisingly, a new report has emerged showing that while the Whales were dumping their holdings, the retailers were busy buying up Terra. According to the Terra investor who made the report, many smaller wallets were stocking up the....