TerraLabs Continue to Push To Become a Top Stablecoin
Terraform Labs and Luna Foundation Guard announced they have purchased $200 million worth of AXAX from the Avalanche Foundation in past weeks. In addition, LFG has also purchased an additional $100 million of bitcoin to help back its stablecoins. LFG now owns 42,530.82 BTC after this recent purchase this past week (according to statistics from Bitinfocharts).
One of the hottest performing cryptocurrencies of 2022 so far (money.usnews.com), Terra (LUNA) is continuing their trend of purchasing stakes in the leading cryptocurrencies to help build strength and stability in their own ecosystem. With a marketcap of over 12 billion, TerraUSD stablecoin is the fourth largest backed stablecoin within the industry… read more
