TerraClassicUSD (USTC) is a decentralized, algorithmic stablecoin published on the Terra Classic blockchain, developed to be pegged to the US dollar. We previously knew it as TerraUSD (UST) stablecoin. They published it on the elder Terra blockchain and rebranded to Terra Classic after the stablecoin’s de-pegging from the USD in May 2022.
What is TerraClassicUSD?
TerraClassicUSD (USTC) is an algorithmic stablecoin that failed its peg to the US dollar in May 2022. Before May 28, 2022, USTC was named TerraUSD (UST). Its name altered when the Terra (LUNA) chain hard-forked on the same date.
It stamped USTC every time its sister investment Terra Luna Classic (LUNC), is roasted or eternally ruined. Before May 28, 2022, LUNC was called Terra (LUNA) — not to be confused with the Terra (LUNA) that came into reality on May 28, 2022. That Terra (LUNA) — occasionally guided to as “LUNA 2.0” — differs from the Terra (LUNA) that became LUNC.
When LUNC’s price tumbled by over 99.9% in May 2022, it lowered USTC’s price. While USTC is even technically deemed a stablecoin, it no extended serves that function. And because USTC has lost so far from its peg to the US dollar, there’s now little logic for investors to buy and burn LUNC to mint USTC.
History of TerraClassicUSD and USTC
The Terra blockchain was originally built in January 2018 to boost the adoption of cryptocurrencies as a payment strategy worldwide. It led to the structure of the Terra Alliance, comprising 15 large e-commerce industries across Asia, to bootstrap the growth of the Terra network infrastructure.
They established the Terra blockchain by Do Kwon and Daniel Shin in April 2019, along with its native token, LUNA. The TerraUSD stablecoin observed several months later, in September 2020.
In less than two years since its launch, the stablecoin rated as the third most extensive stablecoin by market capitalization, surpassing designated players, including BUSD and DAI. Right from its beginning, Terra imagined the USTC to function as an interchain digital investment, working on multiple blockchain ecosystems and qualifying DeFi to scale.
Following the market collision, Terraform Labs declared rebranding the old Terra blockchain, or Terra 1.0, to a new chain, Terra Classic, and its digital assets from LUNA and UST to LUNA Classic (LUNC) and (USTC). The new Terra ecosystem helps several of the old dApps migrated from the Terra Classic network. Both Terra and Terra Classic are PoS chains.
How Many TerraClassicUSD Coins Are There?
As of August 2022, the entire supply of USTC crypto stands at a little over 10.25 billion tokens. The circulating pool of the USTC stablecoin is just above 9.8 billion.
The high circulating collection of the USTC token is also a fundamental cause the stablecoin has stayed de-pegged from the US dollar. As it crushed more tokens amid strong crypto adoption, the market capitalization of USTC could stay supported and assist the USTC price bounce back to $1.
Where can I trade with USTC?
The best TerraClassicUSD exchange to buy USTC is Binance, which saw $23.70M worth of USTC trading volume in the last 24 hours. However, you can also choose from exchanges that list USTC, such as KuCoin, OKX, Huobi Global, gate.io, and S6 Global.
TerraClassicUSD (USTC) Live Price, Market Cap, Volume, Supply.
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TerraClassicUSD Price Prediction
Below we have collected the most loyal price forecasts for TerraClassicUSD (USTC) from popular forecast platforms.
TerraClassicUSD Price Prediction for 2022
As for TerraClassicUSD price predictions for the rest of 2022, there are divergent opinions. WalletInvestor expects a downturn towards $0.042622, and TradingBeast echoes with ~$0 by the year’s end. Other experts, for example, from PricePrediction.net, are more enthusiastic about USTC’s future price, citing upwards of $0.067668 in December.
TerraClassicUSD Price Prediction for 2023
In their TerraClassicUSD price predictions for 2023, WalletInvestor forecasts the coin’s price to go down to $0.01494 by December. Predicting USTC future, TradingBeast expects a further decrease in its price, too, saying the TerraClassicUSD price will reach ~$0 by that time. PricePrediction.net keeps predicting USTC price growth, quoting prices around ~$0.060198 in 2023.
TerraClassicUSD Price Prediction for 2024
TerraClassicUSD price predictions for 2024 are still predominantly negative, with some analysts promising prices in the $0–$0.040864 range (TradingBeast, PricePrediction.net), while WalletInvestor takes a different view and cites the possibility of the price reaching $0.049213 in December 2024.
TerraClassicUSD Price Prediction for 2025
WalletInvestor has only pessimism in store for the 2025 TerraClassicUSD price prediction, valuing USTC at $0.022409 by the end of 2025. TradingBeast agrees with a negative forecast and predicts $0 for the same period. PricePrediction.net’s team is more optimistic — their USTC price prediction for December this year is just $0.073819.
TerraClassicUSD Price Prediction for 2030
Regarding long-term TerraClassicUSD price predictions for 2030, experts present two polar opinions. WalletInvestor expresses the view that USTC price won’t grow further and will supposedly decline to $0.029879. TradingBeast’s price prediction for USTC echoes the projection of a downtrend to $0. Despite this, PricePrediction.net’sPricePrediction.net’s vision remains positive, promising growth up to $0.056683.
- Will USTC reach $1 again?
The TerraClassicUSD (USTC) deal is yet to touch the $1 mark as of August 2022 following the rebranding actions, t. The inability of the USTC to recycle its peg to the USD controls from the increased spreading supply of USTC and LUNC tokens in the market.
- Is TerraClassicUSD a good buy in 2022?
Based on multiple technical and quantitative indicators, the recent prediction for TerraClassicUSD in 2022 is Neutral. It could be a movement that TerraClassicUSD is a good buy in 2022.
- How much will TerraClassicUSD be worth in the future?
TerraClassicUSD is predicted to be worth, on average, $0.047145966638705 by the opening of 2023 (January). In the years that track – 2024, 2025, and 2026 the USTC price is forecasted to be in January value on average $0.048740410911497, $0.048923872678385, and $0.049355986260521, respectively.