Trading of Solana’s SOL and Avalanche’s AVAX tokens against UST stablecoins would also be made available on a spot basis.
UST trading pairings with bitcoin (BTC), ether (ETH), as well as the native tokens of Solana (SOL) and Avalanche (AVL) have been added to the OKX cryptocurrency exchange (AVAX).
Earlier this week, the OKX announced the addition of BTC/UST, ETH/UST, SOL/UST, and AVAX/UST to its spot trading markets, as part of its commitment to advancing Terra’s ecosystem. The exchange said in a statement that it was “pleased to announce the listing” of the coins on its spot trading markets.
According to the release, the trading pairs will go live on April 1 at 6:00 a.m. UTC.
UST is one of the two tokens that make up the Terra ecosystem, the other being LUNA. Because its value is linked to the U.S. dollar 1:1, UST is the largest decentralised stablecoin in the crypto ecosystem, with a market capitalization of $16 billion, it also happens to be the most valuable.
The most widespread application of UST is on Anchor, a money market for lending and borrowing that was established on Terra. According to statistics from tracking tools, about $8.79 billion in UST is encapsulated in the Anchor cryptocurrency.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.