Market Cap
$71,425,147.9
Fully Diluted Valuation
$101,159,627.7
24 Hour Trading Vol
$35,440,632.6
Circulating Supply
5,559,360,823.8
Total Supply
7,873,737,579.5
Max Supply
∞
TerraClassicUSD Price
$0.013
24h Range
$0.011 - $0.013
Percent Change 1h
1.02%
Percent Change 24h
21.05%
Percent Change 7d
-9%
All-time high
$1.09
All-time low
$0.006019
1D
7D
1M
1Y
All
TerraClassicUSD (USTC) is an algorithmic stablecoin that operates on the Terra blockchain. It was originally designed to maintain a 1:1 peg to the US dollar, providing a stable medium of exchange for users in the decentralized finance (DeFi) ecosystem. The coin was part of the broader Terra ecosystem, which aimed to create a suite of stablecoins for various fiat currencies to facilitate seamless transactions and value transfer. However, following a significant collapse in May 2022 that led to the de-pegging of UST from the dollar, the coin was rebranded as TerraClassicUSD, and the original Terra blockchain was split into two chains: Terra (LUNA) and Terra Classic (LUNC) with UST becoming USTC.
TerraClassicUSD was co-founded by Daniel Shin and Do Kwon. Daniel Shin is a businessman with a background in e-commerce, co-founding the company TMON (Ticket Monster), one of South Korea’s leading e-commerce platforms. Do Kwon, a computer science graduate from Stanford University, played a crucial role in developing the Terra protocol and has been a prominent figure in the cryptocurrency space. The project was initially developed by Terraform Labs, which aimed to create a more efficient payment network using blockchain technology.
TerraClassicUSD operates through a dual-token model, consisting of USTC and LUNA. The key mechanism is based on the burning and minting of LUNA to maintain USTC's peg to the US dollar. When USTC trades above $1, users can burn LUNA to mint USTC, increasing the supply of USTC and bringing its price down. Conversely, if USTC trades below $1, users can burn USTC to mint LUNA, reducing the supply of USTC and pushing its price back up. This algorithmic stabilization mechanism relies on market incentives and arbitrage opportunities, allowing the system to self-correct and maintain the peg under normal market conditions. However, the algorithmic nature of USTC led to vulnerabilities, which were exposed during the market downturn in 2022.
TerraClassicUSD has several important use cases:
Keeping your TerraClassicUSD safe involves several best practices:
Investing in TerraClassicUSD (USTC) or any other cryptocurrency involves several steps:
1. Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.
2. Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.
3. Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.
4. Buy TerraClassicUSD: Once your account is funded, you can purchase TerraClassicUSD directly from the exchange. Choose the desired amount and complete the transaction.
Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in TerraClassicUSD using Botsfolio, follow these steps:
Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.
TerraClassicUSD (USTC) is currently trading at $0.013 and exhibits good potential for future growth. Check the latest TerraClassicUSD (USTC) price prediction.
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