Digital asset lending and trading platform Nexo has added layer 1 blockchain Terra LUNA/USD to its list of supported assets.
What Happened: As of Monday, users can now buy, swap, earn and borrow against LUNA on the Nexo platform.
Rates for borrowing against LUNA are as low as zero APR, while users can earn up to 8% interest on the digital asset paid out daily.
The supported trading pairs include LUNA/USDT, LUNA/USDC, LUNA/BTC, LUNA/BNB, LUNA/USDх, LUNA/EURх, and LUNA/GBPх.
LUNA’S price has surged by 20% in the last 24 hours and was trading at $67.12 on Thursday morning.
The coin has been one of the biggest of the year, outpacing Bitcoin BTC/USD, Ethereum ETH/USD, and Dogecoin’s DOGE/USD gains year-to-date. LUNA has surged an astounding 12,200% since January and reached an all-time high of $78.19 in October.
What Else: Nexo has also partnered with crypto hedge fund Three Arrows Capital to launch a new NFT Lending Desk service for OTC clients.
This makes Nexo the first crypto lender to launch a crypto credit backed by NFTs and the first institution in the blockchain space to offer art financing services for the asset class.
“We are happy to partner with Nexo and demonstrate our recognition of NFTs’ promise as a financial instrument — one that requires appropriate, high-quality financial tools to be fully leveraged,” Three Arrows Capital Director Kyle Davies said in a statement.
Photo by Fábio Lucas on Unsplash.
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