Terra CEO Chris Amani DeFi Liquidity Plan Fuels LUNA, LUNC, USTC Prices
Traders and Terraform Labs CEO Chris Amani’s post on Friday fueled prices of Terra (LUNA), Terra Classic (LUNC), TerraClassic USD (USTC) and other Cosmos-based tokens. Chris Amani predicts that the Terra ecosystem will have the deepest stablecoin liquidity in Cosmos and the only ecosystem that has sufficient liquidity for decentralized finance (DeFi).
CEO Chris Amani Predicts Revival of Terra Ecosystem
Chris Amani, CEO of Terraform Labs, took to X (formerly Twitter) to share his prediction that the Terra ecosystem will have the deepest stablecoin liquidity in Cosmos. He also added that it will be the “only ecosystem that has DeFi-sufficient liquidity for both Cosmos and non-Cosmos blue-chip assets.”
After Chris Amani took over as Terraform Labs CEO despite multiple stresses, he announced plans to provide free infrastructure to Cosmos-based chains including Terra Classic under the Foundation business model. He claims that “there will be no better ecosystem in Cosmos for DeFi builders.”
The Foundation business model would be willing to run the infrastructure for all chains on Cosmos, cutting down the massive costs. It will be a game-changer for Terra ecosystem tokens, likely bringing back utility and developers.
In addition, Terra head of communication Zion Schum outlined an upcoming governance proposal to white list specific LP tokens as Alliance assets, he said in a recent X space.
Read More: Terra Luna Classic Community Deters 8 Million USTC Burn Proposal
Terra (LUNA) prices jumped 5% in the last 24 hours, with the price currently trading at $0.73. The 24-hour low and high are $0.703 and $0.791, respectively.
LUNC price skyrockets over 10% backed by a rise in trading volume. The price is currently trading at $0.000127, with a 24-hour high of $0.000142. Moreover, trading volume has increased by 170% in the last 24 hours, indicating rise in interest among traders.
Meanwhile, USTC price trades at $0.0289, up over 5% in the last 24 hours after a drop of over 20% in a week. The 24-hour low and high are $0.0271 and $0.0301, respectively.
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