Reserve Dollar

Terra Classic

Terra

Reserve

TerraClassicUSD

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/11/TN3sKlWK-e1701084285552.png" class="attachment-full size-full wp-post-image" alt="USTC price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Today, the cryptocurrency market has turned its focus on the Algorithmic stablecoin TerraClassicUSD (USTC) and Terra Classic coin which have both witnessed massive hikes <a href="https://coingape.com/breaking-utsc-price-is-skyrocketing-today/">amid a strategic investment</a> aiming towards their revival goal. With an intraday gain of 63.75%, the USTC price has reached the current value of $0.065. Is a road to $1 possible? 
Also Read: <a href="https://coingape.com/terra-luna-classic-community-passes-crucial-proposal-lunc-and-ustc-price-skyrockets/">Terra Luna Classic Community Passes Crucial Proposal; LUNC And USTC Price Skyrockets</a> 
<h2 id="b-ustc-price-escapes-from-year-long-stagnation-b-span-style-font-weight-400-span">USTC Price Escapes From Year-Long Stagnation.</h2> 
<img decoding="async" class="alignnone" src="https://s3.tradingview.com/snapshots/t/TN3sKlWK.png" alt="USTC Price" width="1946" height="1105">Source- Tradingview&nbsp; 
Algorithmic stablecoin TerraClassicUSD USTC, previously known as UST, faced a significant loss of stability leading to a collapse in 2022. The stablecoin’s detachment from its peg to the US dollar triggered a cascading effect that impacted its sister token, LUNA, and caused a breakdown of the Terra-LUNA blockchain ecosystem. Post losing its peg, the price of USTC fell to a low of $0.006 in June 2022. 
Following this tumultuous period, the stablecoin value became stagnant for over a year as shown in the above chart. However, the resilience of the <a href="https://coingape.com/markets/terra-classic-price-prediction-bullish-pattern-hints-45-rally/">Terra Classic</a> community to not give up and revive the tokens to their full functionality has created the hot topic of the day in the crypto market. 
<blockquote>
 In the last three days, the <a href="https://coingape.com/binance-announces-ustc-perpetual-contract-lunc-price/">USTC price has surged 390%</a> showcasing a massive leap from $0.01329 to the current value of $0.0652. This massive rally was followed by a recent development highlighted by an X platform user named Trader QT, that Terra Classic Labs has strategically acquired 25.6 million USTC, amounting to approximately $500,000, as part of its Treasury Reserve Policy. This acquisition was made at an average purchase price of $0.021 per USTC.
</blockquote> 
Thus, the rising USDT price has witnessed a roadblock at the September 2022 peak of $0.07536, indicating that stablecoin is witnessing some hindrance. Analyzing the previous price behavior has shown such a crucial area of interest(AOI), that can obstruct or bolster the USDT goal to $1. 
However, the $1 mark is 1400% away from the current price of $0.066, projecting a long road before USTC reaches its destined value. 
The post <a rel="nofollow" href="https://coingape.com/markets/is-ustc-price-going-to-1/">Is USTC Price Going to $1?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Is USTC Price Going to $1?

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