TerraUSD Classic (USTC) Up 25%, What’s Happening?
TerraUSD Classic (USTC), the algorithmic stablecoin of the Terra Classic (LUNC) ecosystem is on a parabolic run today, showcasing a massive resurgence in interest for the stablecoin.
The TerraUSD Classic Run
According to data from CoinMarketCap, the TerraUSD Classic stablecoin is up by 25.48% over the past 24 hours to $0.01624. While it remains unclear what is driving the resurgence in the stablecoin at this time, it is worth noting that the growth appears organic, taking a look at its overnight buying momentum.
Per the data, more than $92.4 million worth of the stablecoin has been traded over the past 24 hours, a figure that has grown by 702%. The massive embrace of the stablecoin appears to have pushed its price to the highest level in more than a month.
As a stablecoin pegged to the United States Dollar on a 1:1 basis, USTC is supposed to be trading at a price of $1, however, since its historic de-pegging event more than a year ago, USTC has been trading considerably lower with a 52-week high of $0.06. The de-pegging of TerraUSD Classic resulted in a lot of pangs for the broader digital currency ecosystem as its ripple effect is still being felt to date.
Besides the more than 99.9% slump in the price of its associated cryptocurrency, Terra Classic, some Web3.0 startups that had exposure to its parent company Terraform Labs went bankrupt. The bouts of bankruptcy from Celsius Network, to Voyager Digital, finally fueled the implosion of FTX Derivatives Exchange which further elongated the crypto winter.
Hopes for 1:1 Repegging?
With the TerraUSD Classic token recording an immense price surge in recent times, many community members are optimistic that the stablecoin may actually be building the momentum to retest the $1 price level.
While this is a very ambitious projection, the LUNC community is actively revamping its ecosystem to drive the burning of LUNC and also push innovative programs such as staking that can help revive interest and boost the accumulation of the stablecoin.
With this latest price resurgence, USTC has now been placed on the radar of more traders and it is worth watching its trend in the near long term.
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
- SEC, CFTC Unveil Token Taxonomy, Classifying BTC, ETH, XRP, DOGE as Non-Securities
- FOMC Meeting: What To Expect From The Fed Rate Decision Tomorrow
- Senator Kevin Cramer Pushes for CLARITY Act’s Markup Before Easter
- U.S. Democrats Propose BETS OFF Act To Ban War Bets On Prediction Markets
- Ripple Targets Brazil VASP License as RLUSD Adoption Accelerates in Latin America
- Will Dogecoin Price Break $0.15 Before March End 2026?
- Bitcoin Price Forecast: Will BTC Break $80k Ahead of Fed Decision Today?
- MSTR Stock Prediction as Strategy Makes Largest Bitcoin Purchase in 2026 and Analyst Targets BTC Price $100K
- Pi Network Price Prediction After Smart Contract and Second Migration Launch
- Pepe Coin Price Surges 20%- How High Can it Go in March?
- Is XRP Price Gearing Up For $2 Level As BTC Rebounds Above $74k?
