Terra (LUNA) Goes Live on Leading Thailand-Based Exchange

AnalysisTerra (LUNA) Goes Live on Leading Thailand-Based Exchange



Alex Dovbnya

Terra (LUNA) has been listed on the leading Thai exchange, which was recently acquired by Siam Commercial Bank

Terra (LUNA) is now available for trading on Thailand-based cryptocurrency exchange Bitkub, according to an announcement published on Thursday.

Bitkub, which was founded back in early 2018, is the country’s largest cryptocurrency exchange in Thailand, which controls more than 90% of the local market.     

In November, Thai banking giant Siam Commercial Bank acquired a majority stake in the exchange for roughly $537 million. The company managed to reach unicorn status because of the deal.    

The trading platform plans to expand its operations in the Southeast Asian region. It will have to compete with other major platforms in the region such as Indodax.

In 2021, the exchange’s net profits reached $152 million.

The LUNA token, which acts as the governance token of the popular algorithm-based stablecoin project, is currently trading at $89.48 on major spot exchanges.

Binance, the world’s largest exchange by trading volume, is expectedly the top platform for LUNA traders. The LUNA/USDT pair accounts for 15.4% of the total trading volume.

Terra’s UST enters the top 10

Bitkub is yet to list UST, the red-hot decentralized stablecoin powered by the popular protocol.

UST has now entered the top 10 biggest cryptocurrencies by market capitalization, according to CoinMarketCap data. It is currently valued at roughly $18.4 billion.

The stablecoin attracted plenty of attention in recent months because of the Luna Foundation Guard (LFG) non-profit, which has acquired billions of dollars worth of Bitcoin in order to ensure the stability of the dollar peg.      

Last week, Binance.US added the UST stablecoin as its base currency.



Learn more

Latest news

Fixing Water Systems In East Africa Before Problems Get Out Of Hand

When we last met Sarah Evans and Kathryn Bergmann, they were in the early days of running their...

XRP Price Analysis for January 31

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It...

Pfizer forecasts big drop in revenue after record $100M COVID-led haul

Pfizer on Tuesday forecast a bigger-than-expected drop in sales of its COVID-19 vaccine and treatment for 2023, intensifying investor...

Nine Mistakes New Entrepreneurs Often Make With Marketing

One of the first steps entrepreneurs should take after starting their business is getting word out to the...

Pioneering NFT ETF Shutting Down as Enthusiasm Subsides

Alex Dovbnya A ground zero NFT exchange-traded fund is closing its doors for investors due to the lack of...

Must read

Fixing Water Systems In East Africa Before Problems Get Out Of Hand

When we last met Sarah Evans and Kathryn...

XRP Price Analysis for January 31

Disclaimer: The opinion expressed here is not investment...

Pfizer forecasts big drop in revenue after record $100M COVID-led haul

Pfizer on Tuesday forecast a bigger-than-expected drop in sales...

You might also likeRELATED
Recommended to you