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TerraClassicUSD

TerraClassicUSD priceUSTC

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TerraClassicUSD price calculator

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USTC
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1 USTC = 0.01944 USD
Last updated 2024-04-21 18:47:50(UTC-0)

TerraClassicUSD price live data summary

The live price of TerraClassicUSD is $0.01944 per (USTC / USD) today with a current market cap of $174.03M USD. The 24-hour trading volume is $27.37M USD. USTC to USD price is updated in real time. TerraClassicUSD is -10.49% in the last 24 hours. It has a circulating supply of 8,950,312,000 .

What is the highest price of USTC?

USTC has an all-time high (ATH) of $1.05, recorded on 2021-01-30.

What is the lowest price of USTC?

USTC has an all-time low (ATL) of $0.006218, recorded on 2022-06-18.

TerraClassicUSD price prediction

Set your prediction

When is a good time to buy USTC? Should I buy or sell now?

When deciding whether to buy or sell USTC, you must first consider your own trading strategy. The trading activity of long-term traders and short-term traders will also be different. The Bitget USTC technical analysis can provide you with a reference for trading.
According to the USTC 4h technical analysis, the trading signal is Buy.
According to the USTC 1d technical analysis, the trading signal is Sell.
According to the USTC 1w technical analysis, the trading signal is Sell.
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TerraClassicUSD price performance in USD

24h7d30d90d1yAll-time
-10.49%+13.24%-31.78%-20.57%-2.82%--

TerraClassicUSD price history in USD

TimeLowHigh
24h$0.01918$0.02207
7d$0.01605$0.02207
30d$0.01423$0.03121
90d$0.01423$0.04512
1y$0.01041$0.07581
All-time$0.006218(2022-06-18, 1 years ago )$1.05(2021-01-30, 3 years ago )

TerraClassicUSD market information

Market cap
$174,026,968.93
-10.49%
Fully diluted market cap
$174,257,107.18
-10.49%
Volume (24h)
$27,372,672.28
-24.50%
Market rankings
Circulation rate
+99.00%
24h volume / market cap
0.1572
Circulating supply
8,950,312,000 USTC
Total supply / Max supply
8.96B USTC
-- USTC

TerraClassicUSD ratings

Average ratings from the community
4.6
100 ratings
This content is for informational purposes only.

TerraClassicUSD Social Data

In the last 24 hours, the social media sentiment score for TerraClassicUSD was 3, and the social media sentiment towards TerraClassicUSD price trend was Bullish. The overall TerraClassicUSD social media score was 0, which ranks 339 among all cryptocurrencies.

According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,611,687 times, with TerraClassicUSD being mentioned with a frequency ratio of 0.02%, ranking 206 among all cryptocurrencies.

In the last 24 hours, there were a total of 279 unique users discussing TerraClassicUSD, with a total of TerraClassicUSD mentions of 268. However, compared to the previous 24-hour period, the number of unique users increase by 16%, and the total number of mentions has increase by 523%.

On Twitter, there were a total of 0 tweets mentioning TerraClassicUSD in the last 24 hours. Among them, 0% are bullish on TerraClassicUSD, 0% are bearish on TerraClassicUSD, and 100% are neutral on TerraClassicUSD.

On Reddit, there were 3 posts mentioning TerraClassicUSD in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 40% . Additionally, there were 0 comments mentioning TerraClassicUSD. Compared to the previous 24-hour period, the number of mentions decrease by 0%.

Visão geral das redes sociais

Average sentiment(24h)
3
Social score(24h)
0(#339)
Social contributors(24h)
279
+16%
Social mentions(24h)
268(#206)
+523%
Social dominance(24h)
0.02%
Twitter
Tweets(24h)
0
0%
Twitter sentiment(24h)
Bullish
0%
Neutral
100%
Bearish
0%
Reddit
Reddit score(24h)
1
Reddit posts(24h)
3
-40%
Reddit comments(24h)
0
0%

About TerraClassicUSD(USTC)

What Is TerraClassicUSD?

TerraClassicUSD (USTC) is a decentralized algorithmic stablecoin pegged to the US dollar, operating on the Terra Classic blockchain. Originally known as TerraUSD, it was rebranded to TerraClassicUSD following the collapse of the Terra ecosystem in 2022, which led to the depeg of the token. TerraClassicUSD was conceived to meet the demands of various DeFi protocols, offering scalability, security, and interoperability with other blockchains without compromising speed.

USTC was launched in September 2020 in collaboration with Bittrex Global, a cryptocurrency exchange. It integrates seamlessly into crypto wallets and payment systems and can be utilized for minting synthetic assets or tracking real-world asset prices on DApps like Mirror Protocol. Despite its advantages, USTC faces challenges such as potential deviations from its peg due to market fluctuations and competition from other stablecoins like USDT, USDC, and DAI.

Resources

Whitepaper: https://assets.website-files.com/611153e7af981472d8da199c/618b02d13e938ae1f8ad1e45_Terra_White_paper.pdf

Official Website: https://www.terra.money/

How Does TerraClassicUSD Work?

TerraClassicUSD operates through a unique “mint and burn” algorithm involving USTC and its native asset, Luna Classic (LUNC). When USTC’s price is below $1, users can burn 1 USTC to mint $1 worth of LUNC, and when USTC’s price is above $1, users can burn $1’s worth of LUNC to mint 1 USTC. This algorithm aims to maintain price stability through arbitrage trading efforts controlling the supply and demand of USTC and LUNC.

The Terra Classic blockchain, introduced in April 2019 by Terraform Labs, was designed to establish a global payment system driven by fiat-pegged stablecoins backed by a floating-rate cryptocurrency, Luna Classic (LUNC). It utilized smart contracts to mint and burn stablecoins like USTC in response to supply and demand fluctuations, with Luna Classic absorbing the stablecoins' price volatility and acting as collateral and a governance token.

However, in May 2022, Terra Classic suffered a catastrophic collapse when USTC lost its peg to the US dollar, leading to a severe sell-off of USTC and hyperinflation and devaluation of LUNC. This event prompted the creation of a new chain called Terra (LUNA) with new tokenomics and governance to prevent such disasters, and the original Terra chain was rebranded as Terra Classic.

What Is TerraClassicUSD Token?

USTC, the token representing TerraClassicUSD, is a crucial component of the Terra Classic ecosystem, serving as a medium of exchange and a pricing benchmark for decentralized applications. Despite the challenges faced by the Terra Classic blockchain, USTC continues to be a significant player in the crypto market, offering users the ability to earn interest by staking their tokens on platforms like Anchor Protocol and facilitating asset and token transfers, transactions, and smart contract interactions through various wallets and protocols.

USTC does not have a maximum supply because its supply and price are controlled by the reserve and algorithms. USTC’s circulating supply as of this writing is 9,787,880,337.

TerraClassicUSD's Impact on Finance

TerraClassicUSD has had a profound impact on the world of decentralized finance (DeFi) by providing a scalable and yield-bearing stablecoin option in the crypto market. Its algorithmic design and interoperability with other blockchains have allowed it to meet the demands of various DeFi protocols without compromising speed or security. However, the risks and vulnerabilities associated with Terra Classic and LUNC highlight the challenges and uncertainties inherent in the rapidly evolving world of blockchain and cryptocurrency.

What Determines TerraClassicUSD's Price?

The price of TerraClassicUSD (USTC), like other cryptocurrencies, is fundamentally influenced by various factors in the cryptocurrency market. Market supply and demand dynamics play a pivotal role in determining the price of this token. When the demand for USTC increases, perhaps due to positive cryptocurrency news or favorable cryptocurrency trends, the price is likely to rise. Conversely, if the supply of USTC exceeds demand, possibly due to adverse cryptocurrency regulation or negative market events, the price is likely to fall. Cryptocurrency enthusiasts and the crypto community closely monitor these dynamics, utilizing cryptocurrency analysis and cryptocurrency charts to make informed predictions and decisions.

Cryptocurrency experts and influencers often delve into extensive crypto market analysis to forecast the potential price movements of tokens like USTC, considering factors like cryptocurrency security, risks, and market volatility. These analyses often lead to varied cryptocurrency price predictions for 2023 and beyond, aiding both beginners and seasoned investors in shaping their cryptocurrency trading strategies and crypto portfolio management. For those looking to buy USTC, it can be acquired on leading exchanges such as Bitget, where users can analyze the cryptocurrency market trends and make the best crypto investment for 2023 based on informed decisions. Whether USTC is a good investment or not largely depends on individual risk tolerance, investment goals, and the ever-evolving landscape of cryptocurrency adoption and development.

How to buy TerraClassicUSD (USTC)

Buying TerraClassicUSD on Bitget is fast and simple.
You just have to create an account, complete identity verification, deposit funds, and your trading journey is all set!
For more information, refer to How to buy TerraClassicUSD (USTC) .

Trade USTC perpetual futures

After having successfully signed up on Bitget and purchased USDT or USTC tokens, you can start trading derivatives, including USTC futures and margin trading to increase your income.

The current price of USTC is $0.01944, with a 24h price change of -10.49%. Traders can profit by either going long or short onUSTC futures.

Join USTC copy trading by following elite traders.

After signing up on Bitget and successfully buying USDT or USTC tokens, you can also start copy trading by following elite traders.

TerraClassicUSD news

See more
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BlackRock Revises Spot Bitcoin ETF Proposal Ahead of Rumored SEC Approvals

Black Rock's ETF proposal now includes cash redemptions, a concession to the SEC that may improve the fund's approval odds.

Coindesk2023/12/18 21:31#Markets#Bitcoin ETF#BlackRock
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Bitcoin Is Coming to Sushi as DeFi Platform Expands to ZetaChain

The move allows users to access the liquidity of bitcoin on decentralized finance (DeFi) without going through intermediaries like wrappers.

Coindesk2023/11/16 08:00#Business#Sushi#SushiSwap
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Elon Musk’s Twitter Overhaul Could Be Huge for DOGE and Crypto Generally

“Elon clearly has an affinity for DOGE, almost as part of a running joke, but I wouldn’t be surprised if he actually went through with enabling payments via DOGE.”

Coindesk2023/07/25 12:47#Business#Twitter#DOGE
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Bitcoin Inscriptions Not a Fading Trend | Crypto Daily Digest Sep. 8

While Bitcoin NFT sales have declined, Ordinals inscriptions continue rising.

TokenInsight2023/09/08 13:49#Bitcoin#NFT
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Friend.tech Gaining Momentum | Crypto Daily Digest Aug. 22

The latest update you need to know about Friend.tech

TokenInsight2023/08/22 15:31#Social#Coinbase

People are also inquiring about the price of TerraClassicUSD.

What is the current price of TerraClassicUSD?

We update our TerraClassicUSD to USD price in real time. Get the live Price of TerraClassicUSD on Bitget.

What is the 24 hour trading volume of TerraClassicUSD?

Over the last 24 hours, the trading volume of TerraClassicUSD is $27.37M.

What is the all-time high of TerraClassicUSD?

The all-time high of TerraClassicUSD is $1.05. This all-time high is highest price for TerraClassicUSD since it was launched.

Can I buy TerraClassicUSD on Bitget?

Yes, TerraClassicUSD is currently available on Bitget’s centralized exchange. For more detailed instructions, check out our helpful How to buy TerraClassicUSD guide.

Can I get a steady income from investing in TerraClassicUSD?

Of course, Bitget provides a strategic trading platform, with intelligent trading bots to automate your trades and earn profits.

Where can I buy TerraClassicUSD with the lowest fee?

We're pleased to announce that strategic trading platform is now available on the Bitget exchange. Bitget offers industry-leading trading fees and depth to ensure profitable investments for traders.

What is use case of TerraClassicUSD?

The use case of TerraClassicUSD (USTC) revolves around providing a decentralized and algorithmic stablecoin that is designed to be pegged to the US dollar. While its initial pegging was on the old Terra blockchain, which later rebranded to Terra Classic, the stablecoin's purpose is to maintain price stability in the crypto market. Key use cases of TerraClassicUSD (USTC) include: - Stable Transactions: USTC serves as a stable medium of exchange, allowing users to transact and make payments without the price volatility commonly associated with cryptocurrencies. - Store of Value: Users can hold USTC as a store of value, similar to traditional fiat currencies. Its stability makes it suitable for preserving wealth in the crypto space. - Trading: Traders often use stablecoins like USTC as a trading pair on various cryptocurrency exchanges. It provides a stable reference point for trading against other digital assets. - Lending and Borrowing: DeFi platforms and lending protocols often use stablecoins like USTC as collateral or for borrowing purposes. - Decentralized Applications (dApps): USTC can be integrated into dApps, enabling developers to create applications that require a stable currency for various use cases, including gaming, finance, and more. - Remittances: Due to its stability, USTC can be used for cross-border remittances, providing a cost-effective and efficient means of transferring value internationally. - Hedging: Cryptocurrency users and investors may use USTC to hedge against market volatility, temporarily moving their assets into a stablecoin during uncertain market conditions. It's important to note that USTC's value stability is maintained through algorithmic mechanisms rather than being backed by physical reserves of US dollars, differentiating it from fiat-backed stablecoins. The Terra Classic blockchain employs LUNA Classic (LUNC) and a unique algorithm to control the supply and demand of USTC, striving to keep its price as close to the US dollar as possible despite market fluctuations.

Is TerraClassicUSD a good investment?

TerraClassicUSD (USTC) is an algorithmic-backed stablecoin that aims to maintain its value close to the US dollar. However, it has faced challenges, particularly after the collapse in May 2022, which led to excessive minting of tokens and a loss of its peg to the USD. Here are some key points to summarize: - USTC's value has struggled due to an oversupply of tokens, causing it to lose its peg to the US dollar. - Restoring investor confidence could potentially help USTC regain its $1 peg and encourage wider adoption. - Increased adoption of USTC and the Terra Classic blockchain could boost the ecosystem and contribute to higher demand for the stablecoin. - Regulatory challenges may pose risks to USTC, given its history and re-pegging efforts, making it a digital asset that requires careful consideration before investment. Investors should be cautious and monitor the developments surrounding USTC, as its future value and stability depend on various factors, including regulatory considerations and market sentiment.

Can I mine TerraClassicUSD?

TerraClassicUSD (USTC) operates on a proof-of-stake (PoS) blockchain, where coins are earned through staking or running a master node, unlike Bitcoin, which relies on mining through hashing algorithms.

What are the differences between TerraUSD (UST) and TerraClassicUSD (USTC)?

The critical differences between TerraUSD (UST) and TerraClassicUSD (USTC) stablecoins are as follows: - Operating Blockchain: UST operated on the old Terra network, which was rebranded to Terra Classic (Terra 1.0) after the May 2022 market crash. UST was rebranded as TerraClassicUSD (USTC). A new Terra blockchain was launched, which no longer supports stablecoins, and its native token is LUNA. - Peg to USD: UST was a popular stablecoin known for maintaining its peg to the US dollar until the May 2022 market crash. USTC aims to restore its peg but is currently de-pegged. - Market Rank and Cap: UST was a top-10 cryptocurrency by market cap before its collapse, with a peak market cap of over $9 billion in December 2021. USTC, in contrast, holds a market rank of 112 as of August 2022, with a market cap of under $317 million.

What happened to TerraUSD (UST)?

The TerraUSD (UST), formerly the largest algorithmic stablecoin and the third-largest stablecoin overall, lost its peg to the US dollar in May 2022. This occurred due to imbalances in the Anchor Protocol, a DeFi platform offering high lending returns for UST. Large withdrawals from Anchor Protocol triggered panic, causing UST investors to sell, leading to a crisis in the Terra blockchain. To address this, Terraform Labs announced a revival plan, rebranding Terra 1.0 as Terra Classic and introducing TerraClassicUSD (USTC), but investor confidence remains uncertain as of August 2022. The events resulted in estimated losses of over $40 billion.

What is the history of TerraClassicUSD?

Terra is a blockchain platform founded in April 2019 with its native token LUNA, aiming to promote cryptocurrency adoption for global payments. Supported by the Terra Alliance of 15 Asian e-commerce businesses, it launched the TerraUSD stablecoin in September 2020, becoming a top stablecoin. After a market downturn, Terraform Labs rebranded the original Terra blockchain as Terra Classic (Terra 1.0), renaming its digital assets to LUNA Classic (LUNC) and TerraClassicUSD (USTC). The new Terra ecosystem continues to support dApps from the old Terra Classic network, and both Terra and Terra Classic use a Proof-of-Stake (PoS) consensus mechanism.
Cryptocurrency investments, including buying TerraClassicUSD online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy TerraClassicUSD, and we try our best to fully inform our users about each cryptocurrency we offer on the exchange. However, we are not responsible for the results that may arise from your TerraClassicUSD purchase. This page and any information included are not an endorsement of any particular cryptocurrency.

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USTC is available for trading on the Bitget Exchange, and can be held in custody on Bitget Wallet. Bitget Exchange is also one of the first CEX platforms to support USTC trades.
You can trade USTC on Bitget.

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