Terra’s 2 Classic Coins Mysteriously Spike in Value, USTC Climbs 42% Higher i...
During the last 24 hours, crypto asset prices have improved as the global cryptocurrency market capitalization today has risen 1.9% to $1.07 trillion. Interestingly, the two so-called ‘defeated’ Terra blockchain tokens, now called terraclassicusd (USTC) and luna classic (LUNC), have seen significant gains. LUNC has climbed 8% higher during the past 24 hours and the once-stable coin USTC has jumped 42.2% higher against the U.S. dollar on Tuesday. Following Do Kwon’s Recent Interview, Terra’s Classic Token See a Market Revival For some mysterious....
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It’s been more than a year since the historic Terra LUNA crash saw USTC de-peg but the community has still not given up on the cryptocurrency. The latest development comes in the form of a proposal that wants to stop the minting of new USTC, which could end up being a positive for the price. […]
The value and popularity of TerraUSD Classic, or USTC, the algorithmic stablecoin of the Terra Classic (LUNC) ecosystem, have skyrocketed recently. Today, the stablecoin makes a surprise rally, sparking a great deal of interest among investors and cryptocurrency aficionados. The sharp growth in USTC could be an indication of a sharp rise in demand and emphasizes the market’s rising confidence in this stablecoin. Data from crypto market tracker Coingecko shows USTC trading at $0.0186, notching a 24-hour increase in value of 21.4%. In the last seven days, the stablecoin registered an....
After the downfall of the two most popular crypto assets on the Terra blockchain, the digital currencies terrausd (UST) and luna classic (LUNC) increased a great deal in value against the U.S. dollar in recent times. During the last seven days, LUNC has risen 96.3% and the once-stable coin UST has increased 472.4% this week.
Luna Classic and the Once-Stable Coin UST Rise Significantly Against the US Dollar
It’s pretty well known in the world of digital currencies that some crypto assets never die. That seems to be the case with the two notorious crypto assets luna classic....
The USTC price rally does not mean it would reclaim its lost U.S. dollar peg in the future. Terra's $40-billion experiment to create a functional "algorithmic stablecoin" project has failed drastically following its collapse in May. Nonetheless, its native stablecoin TerraClassicUSD (USTC), earlier called TerraUSD (UST), has been thriving in the past week.Dead stablecoin walkingTo recap, UST lost its U.S. dollar peg in May following mass withdrawals from Anchor Protocol, a lending and borrowing platform offering up to 20% yield to clients on their UST deposits. As of June 15, the token was....
On Sunday, January 30, 2022, the top smart contract protocol tokens by market capitalization is $592 billion or 32.66% of the $1.8 trillion crypto economy. Meanwhile, the total-value locked (TVL) in decentralized finance (defi) protocols is $192.42 billion up 5.28% since January 23. Defi TVL Climbs More Than 5%, Ethereum Defi Dominance Still 60%, Cross-Chain Bridge TVL Jumps 13.5% At the end of the week, crypto asset prices have rebounded from the market carnage that took place seven days ago. During the last week, the top two leading crypto assets bitcoin (BTC) and ethereum (ETH) have....