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 .

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

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.

Trending

1
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown
2
CoinDesk - Unknown
Cosmos-Builder Ignite Cuts Headcount by More Than 50%, Ex-Employees Say

The reductions come amid a crypto market crash, and after the return of Ignite’s controversial ex-CEO.

CoinDesk - Unknown
3
CoinDesk - Unknown
India's Day Of Reckoning With ‘Most Controversial Crypto Tax’ Is Here

The country's 1% TDS is predicted to exacerbate negative market sentiment and add to the woes of the crypto community.

CoinDesk - Unknown