Terra buys $200M in AVAX for reserves as rival stablecoins emerge
![](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZDg3NDk3MzctYjVkMS00ZGUyLWEzMGQtZTllODQ4OWEwYzg5LmpwZw==.jpg)
The two main organizations behind the development of the Terra blockchain have purchased a combined $200M in AVAX, while Near Protocol is rumored to release a new stablecoin.
Source: Terra buys $200M in AVAX for reserves as rival stablecoins emerge (https://cointelegraph.com/news/terra-buys-200m-in-avax-for-reserves-as-rival-stablecoins-emerge)
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