Road To $1: Why Did Terra Classic (USTC) Rise 300% In One Day?
2023年11月27日 - 6:30PM
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TerraClassicUSD (USTC), the algorithmic stablecoin tied to the LUNA
ecosystem, recently went on an upward trajectory to register gains
of over 300%. In a stunning cascade of events, the token’s price
spike in the past 24 hours has left investors wondering about the
implication for Terra Classic (LUNC) and the potential revival of
the LUNA ecosystem. USTC Coin Spikes 300% In One Day USTC has lost
most of its usefulness as a stablecoin since its implosion in 2022
when it was known as UST. The stablecoin lost its peg to the US
dollar which resulted in a chain of events that led to its sister
token, LUNA, also losing most of its value and the demise of the
Terra-LUNA blockchain ecosystem. After it lost its peg to the US
dollar, the stablecoin was rebranded as UST Classic and its value
fell to as low as $0.01. Related Reading: XRP Price May Recapture
61,000% Surge Seen In 2017, Analyst Claims It’s already been more
than a year since the crash, but it looks like the token and some
members of the LUNA ecosystem are not ready to give up yet. The
latest price action has seen the token spike 300% from $0.01569 to
$0.0755 in the past 24 hours. The catalyst for this surge can be
attributed to Terra Classic Labs (TCL), a LUNC community project.
Terra Classic Labs was created in October 2023 by some members of
the former thriving LUNA ecosystem. According to its website, it is
dedicated to supporting new LUNC projects for the revival of the
Terra ecosystem. In a social media post by Trader QT, an official
partner of Luna Classic Labs, the team made a massive purchase of
approximately 25.6 million USTC for $500,000 at an average price of
$0.021 per $USTC. This move sent USTC spiking, fueling hopes that
Terra Classic Labs can help revive and stabilize the
cryptocurrency. I can confirm that today, in an initial strategic
investment, Luna Classic Labs has purchased approximately 25.6m
$USTC for $500k in accordance with its Treasury Reserve Policy, at
an average price of approximately $0.021 per $USTC. — Trader QT
(@0x_Ears) November 26, 2023 Can Terra Classic Return To $1?
Although the move by Terra Classic Labs sent USTC on a surge, the
stablecoin is still trading at $0.0516, far from a $1 price point.
The crypto will have to register another gain of 1837% from its
current price before it can regain its peg to the US dollar,
showing how far behind it is. The recent price action however did
have some sort of bullish action on Terra Classic LUNC, as it has
also spiked by 25% in the past 24 hours. Terra Classic is trading
at $0.0001004 at the time of writing. Related Reading: Whales Move
$30 Million Worth Of XRP To Exchanges – Time To Sell? Although the
Terra Classic community hasn’t given up on the cryptocurrency, the
LUNA ecosystem has since rebranded and moved from Terra Classic
LUNC to a new chain (Terra 2.0) with its own native token called
LUNA. It would seem LUNA also reacted positively to the
TerraClassicUSD surge as data from Coinmarketcap shows LUNA has
increased by 17.8% in the past 24 hours and is now trading at
$0.79. Token price makes 300% run | Source: USTC/USDT on
Tradingview.com Featured image from Vecteezy, chart from
Tradingview.com
Terra (COIN:LUNAUSD)
過去 株価チャート
から 5 2024 まで 6 2024
Terra (COIN:LUNAUSD)
過去 株価チャート
から 6 2023 まで 6 2024