It may be true that every person within the community of the Terra network ended up facing a loss one way or another. However, the cryptocurrency exchanges suffered from the worst losses due to the crash of the entire Terra network.
With the amount of growth the cryptocurrency sector has witnessed, tens of millions of investors have joined cryptocurrency exchanges. Any token or cryptocurrency that is expected to be a high gainer, the investors rush to invest in it.
Being among the top cryptocurrencies, Terra was observing the same treatment from millions of investors. It was one of the most promising and highly demanded cryptocurrencies. This is the reason why it enjoyed being ranked as one of the top twenty cryptocurrencies in terms of valuation.
However, as a huge tragedy has hit the Terra network, it is still finding it hard to get on a strong and firm ground. Among all the terrible things that could happen to Terra after the debacle, the worst is its community losing trust in it.
Major Cryptocurrency Exchanges Help Revive Terra
Despite the loss of trust, the community is still displaying great resilience. They are ready to go to any extent to help revive the Terra network. It is very remarkable to see that almost every entity that is linked with the Terra network in any way, is trying to help revive it.
Even the major cryptocurrency exchanges that had to delist all Terra network cryptocurrencies are contributing to the cause. Initially, when the crash happened, it was Binance and Coinbase who offered their support in fixing the problem.
Since then, the teams at the major exchanges have worked tirelessly to help resolve the problem. Despite removing Terra cryptocurrencies, they have given it all to help revive the coins. This way, they are not only helping Terra but also doing the same with their business, and their users.
Exchanges Support the New Terra Token
At the beginning of the week, the Terra team announced they are planning to launch the new native token for Terra the following Friday. They confirmed it will be launched through the new blockchain dubbed ‘Terra 2.0’.
Although the Terra network team feared none of the major exchanges would support their new token, the exchanges have done the exact opposite.
Surprisingly, all major exchanges have started working with the Terra teams in launching the airdrop for the new Terra token. This means that they are eager to launch the new Terra token through their platforms.
On the list of major cryptocurrency exchanges, it is not just Binance and Coinbase but also FTX, and many more exchanges showing their support for the new Terra token.
This means that once launched, the new Terra token would witness a great surge and a rally in its value. Therefore, the investors must keep an eye on the distribution of the new Terra token and acquire as many as possible.