OKX Offering Bitcoin, Ether Trading Pairs Against Terra's UST

Spot trading for Solana’s SOL and Avalanche’s AVAX tokens against UST stablecoins will also be launched.

AccessTimeIconApr 1, 2022 at 7:47 a.m. UTC
Updated Apr 1, 2022 at 3:10 p.m. UTC

Shaurya is an analyst/editor for CoinDesk's markets team in Asia.

Crypto exchange OKX has started offering trading pairs for Terra's UST with bitcoin (BTC), ether (ETH) and the native tokens of Solana (SOL) and Avalanche (AVAX).

  • “OKX is pleased to announce the listing of BTC/UST, ETH/UST, SOL/UST, AVAX/UST on our spot trading markets as we continue to support the development of the Terra ecosystem,” the exchange said in a statement on Friday.
  • The trading pairs will go live on Friday at 6:00 UTC, the statement said.
  • UST, alongside LUNA, is one of the two tokens of the Terra ecosystem. UST's value is pegged at 1:1 to the U.S. dollar and is the largest decentralized stablecoin in the crypto ecosystem with a market capitalization of $16 billion.
  • UST is most widely used on Anchor, a money market for lending and borrowing built on Terra. Over $8.79 billion in UST is locked on Anchor, according to data from tracking tools .

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Shaurya is an analyst/editor for CoinDesk's markets team in Asia.

CoinDesk - Unknown

Shaurya is an analyst/editor for CoinDesk's markets team in Asia.