LUNA Hits All-Time High of $106 as Excitement over Bitcoin Investment Builds | CoinMarketCap

LUNA has just hit a new all-time high 👀

UST is designed to be pegged on a one-to-one basis with the U.S. dollar, but the algorithmic stablecoin is not backed with fiat reserves. It's hoped that moving to a Bitcoin standard will help the digital asset achieve a greater degree of stability.

Bitcoin, Binance Coin and XRP are largely flat over this timeframe, while Ether has risen by 3.33% as it approaches $3,500. "The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset. UST is going to be the first internet native currency that implements the Bitcoin standard as part of its monetary policy."

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