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Terra CEO Chris Amani DeFi Liquidity Plan Fuels LUNA, LUNC, USTC Prices

Terra CEO Chris Amani predicts deepest stablecoin liquidity among Cosmos and non-Cosmos chain. LUNA, LUNC, and USTC prices jumped.

Published by

Varinder Singh

Published 05 Jan, 2024 | 02:34:57 PM UTC

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.

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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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by

Varinder Singh

Published 05 Jan, 2024 | 02:34:57 PM

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