Inside Terra’s $2.38 Billion Reserves, What Made The Lineup?

Terra (LUNA) has been aggressive about filling up its reserves with trusted cryptocurrencies to serve as a backup for its stablecoin UST. This has evolved over time to include a number of various cryptocurrencies that now make up its reserves sitting at $2.38 billion. This is still a long way from where the Luna Foundation plans for its reserves to be, making it a work in progress. In this report, we take a look at these reserve currencies and the portion allocated to each one. Diving Into Terra’s Reserves As mentioned previously, Terra’s crypto reserves have gone up to as high as $2.38 billion since it first announced it was starting the reserves. Luna Foundation Guard has been putting more money into its Bitcoin reserves, which it plans to get to at least $10 billion in BTC with time. This makes the pioneer cryptocurrency the largest of the holdings in this regard. Although there are other cryptocurrencies that mark the lineup, bringing the total to four. Related Reading | ADA To Rebound With Integration Of USDT And USDC On Cardano? Following behind Bitcoin are the ERC-20 tokens which combined make up the second-largest percentage of the reserves at 23.2%. These are both stablecoins USDC and USDT, coming out to a total of $549.80 million of these tokens serving as reserves for USDT. Additionally, Terra’s native token, Luna, also makes the list of reserves used by the network. It accounts for 7.2% of all reserves with a ...