Here’s How Terra’s UST to Skyrocket by 10x that May Boosts LUNA Price to $200 Soon!

The post Here’s How Terra’s UST to Skyrocket by 10x that May Boosts LUNA Price to $200 Soon! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

TerraForm Labs in recent times constantly acquired other crypto-assets like Bitcoin, Avalanche, etc to back their stablecoin UST. In fact, the platform holds the 3rd largest BTC reserve after MicroStrategy & Tesla. And hence the stablecoin UST is appearing to be stronger day by day and is now on its way to becoming the top stablecoin in the market. 

How will UST achieve this milestone and will it impact the LUNA price? A thread is here to explain the stuff. 

Terra’s 4-Pool Genesis Game Changer!

The co-founder and CEO of Terraform Labs Do-Kwon have come up with a masterpiece called the 4-pool which is believed to end the curve war once and for all. Instead of fighting with each other, the stablecoins are pegged with each other. This pool consists of UST, FRAX, USDT & USDC, where-in holders of all other stablecoins can easily swap their coins for UST. This may open the doors for huge mass adoption. 

Currently, USDT and USDC hold a major share among the stablecoins in the market. Tether(USDT)’s trading volume always tops the leaderboard every day above Bitcoin or Ethereum. And now when the huge masses will easily open the gates towards UST, a significant rise in UST market cap along with new users may be expected any time from now. 

Synapses – Door for 15 EVM Powered Chains

Apart from 4-Pool, Terraform labs are also working hard to enable their stablecoin UST to travel across major chains like Binance Chain, Polygon, Avalanche, Fantom, Harmony, etc, the other 10. Synapses is a bridge that connects 15 EVM powered chains and many more to come in future to UST. Terra recently bought Avalanche and pushed LUNA & UST into their ecosystem in exchange. 

On the other hand, a Polygon based DEX Greenhouse is all set to be the first UST preferred DEX. And in this way, UST may make its way on the Polygon chain too as the trading fees are as low as 0.18% and Polygon users can trade UST easily. Apart from Avalanche & Polygon, UST will soon be on Solana, Fantom, Polkadot & Kusama. And hence in this way users from all other chains maybe diverted to UST, skyrocketing the adoption and market cap. 

How will LUNA’s Price be Impacted?

LUNA’s price had adversely impacted when Terraform Labs donated nearly 10 million worth nearly $880 million to the LUNA Foundation Guard. The price slumped hard due to a flood in the circulation. However, the asset quickly held back and reacted positively as the stablecoin UST grew stronger. Currently, LUNA’s price has risen close to 20% as the UST stablecoin approaches the 3rd position among the stablecoins. 

The price is expected to maintain an elevated trend as the UST is expected to swell as the circulation of the stablecoin may rise gigantically very soon. As the UST will be valued at $1 forever, only an increase in the circulating supply may escalate the market cap and hence uplift its popularity.