- The token reached its all-time high of 1 billion USD in market cap within five weeks of launching.
- Terareum blockchain, Terapool pad, and Terapay are some features to be released in the future.
In an announcement, Terareum, a multifunctional Web3 exchange said that its upgraded token TERA2, has begun successfully trading — TERA2/USDT pair, on its own novel hybrid Terareum DEX and TERA2/WETH on the Uniswap DEX.
With the current price of $0.0001203, the trading pair TERA2/WETH is one that has the probability of being listed on the top 10 tier exchanges, noted the company. Moreover, Terareum completed the migration of its token from TERA to TERA2 to make sure its investors and traders stay up-to-date with the latest trends and changes.
Reminiscing the launch of the token in February 2022, the company stated that the token hit its all-time high of 1.1 billion dollars in market cap within five weeks of launch. However, a series of events like the FTX contagion and crypto winter shook the bedrock of Web 3.0 and slowed its progression.
Nonetheless, the company mentioned that these events are simultaneously being addressed and enforced by the US SEC, Commodity Futures Trading Commission (CFTC), and other regulatory bodies with rules and boundaries that allow this new asset class to thrive and provide safety to its investors.
Currently, trading with a limited supply of 30 billion tokens, Terareum has its own indigenous ecosystem including an impending Layer 1 “Proof of Stake” Blockchain known as Terareum Blockchain with enterprise as well as retail functionality to be released in the third quarter of 2023.
Moreover, the new advanced hybrid DEX/CEX Terareum Exchange is operational in India and Dubai in a centralized (CEX) capacity. Whereas in the US and EU and other countries, it will be operational as a (DEX) decentralized exchange, stated Terareum.
The Terapool Pad (the First Largest Decentralized Fund-Raising Platform) and Terapay (World’s First Fiat and Crypto Payment Gateway) are some of the features to be launched during the course of the year. The company hopes that this ecosystem shall set up a high bar that may become a standard for Web 3.0 functionality.
Furthermore, the company expects to join the cadres of BTC & ETH blockchains and become a bellwether of the crypto space within a few years.