NEAR coins soar 33% following Terra stablecoin integration

NEAR (NEAR-USD) tokens jump more than 33% intra-day following an integration with smart contracts blockchain Terra's (LUNA-USD) UST stablecoin on the NEAR and Aurora ecosystems, according to a release. Thanks to the partnership between Terra, NearPad and Rose, users will be able to bridge assets directly from Terra to Aurora via supported chains. "Stablecoins like UST provide a simple interface to store value and interact with apps which need to use a stable unit of account," said NEAR Co-founder Illia Polosukhin. Meanwhile, NEAR (NEAR-USD) has a $6.96B market cap, making it the 26th largest crypto, up from less than $200M in the same period a year ago, according to data from CoinMarketCap. Earlier, Terra coins surged to new highs.