Luna New Trading Pair has been Listed On OKX – Can This Save Terra?
It’s good news for the Terra community as Luna scores a new trading pair listing on one of the top crypto exchanges. OKX is the first of the exchanges to extend a helping hand for Luna as the crypto struggles to regain ground after days of being battered by bears.
OKX released a statement announcing its decision to list a Luna/USDC spot trading pair along with a few others including Solana, DOGE, FIL, NEAR, DOT, APE, AVAX, and SHIB. All the cryptos listed have a USDC as part of their trading pair. As for LUNA, this is great news that could potentially turn things around for the Terra ecosystem.
NEW IN: 1️⃣0️⃣ #USDC Spot trading pairs are now listed @OKX!
? LUNA @terra_money
? SOL @solana
? DOGE @dogecoin
? FIL @Filecoin
? DOT @Polkadot
? NEAR @NEARProtocol
? APE @apecoin
? AVAX @avalancheavax
? ADA @Cardano
? SHIB @ShibtokenTrade now ⤵️
— OKX (@okx) May 23, 2022
Luna Exposed To Larger Market
For one, OKX is a large crypto exchange sitting among the market’s top most popular and best exchanges. A quick look at the list of exchanges currently in operation reveals that OKX is at number 19 in the charts, with an impressive trading volume of around $1.5 billion. This indicates that it’s a really busy exchange. There are currently over 300 crypto exchanges in the market, and that makes OKX’s 19th position a big deal.
With the listing, Luna will be exposed to a large user base on a busy exchange, and this could attract more attention to it. It’s worth noting that part of the reason the listing is very consequential is that some crypto exchanges delisted Luna in the wake of its market crash.
Terra 2.0 In The Works
Meanwhile, the Terra team is working on a new Terra chain that will be implemented as a hard fork of the original Luna chain. New Luna tokens will be created and airdropped to the community. It’s not yet clear when this plan will be accomplished or whether the OKX listing will be of any effect.