According to Gate News Bot on December 5, citing CoinMarketCap data, as of press time, USTC (TerraClassicUSD) is trading at $0.01, up 10.33% in 24 hours, with a high of $0.01 and a low of $0.01. The current market capitalization is approximately $37.77 million, an increase of nearly $3.53 million from yesterday.
TerraClassicUSD (USTC) originated as an algorithmic stable asset within the Terra ecosystem, designed to reflect the US dollar through supply and demand balance with LUNA (now LUNC). After its collapse in May 2022, USTC shifted to a freely traded token, with its price fluctuating according to market demand. USTC still plays a role in the Terra Classic network, powering DeFi pools, paying gas fees, and serving as a trading pair on CEX and DEX platforms. Major discussions and economic model releases about USTC are published on the Common governance forum.
Recent important news about USTC:
1️⃣ Market sentiment rebound drives up USTC price
The overall cryptocurrency market has recently shown signs of recovery, and USTC, once a mainstream algorithmic stablecoin, has attracted renewed attention from investors. In the past 24 hours, USTC’s price has risen significantly by 10.33%, reflecting a positive short-term outlook for the token.
2️⃣ Continued development of the Terra Classic ecosystem
Despite the collapse in May 2022, the Terra Classic network continues to develop. USTC remains important within the network, including providing liquidity for DeFi pools and paying gas fees. This ongoing utility helps sustain market demand for USTC and provides some support for its price.
3️⃣ Exchange support boosts liquidity
USTC maintains active trading pairs on several major cryptocurrency exchanges, helping to maintain its liquidity and market depth. The continued support from exchanges provides investors with convenient trading channels, favoring price stability and potential growth for USTC.
From a technical perspective, USTC has broken through recent resistance levels, showing short-term upward momentum. However, considering USTC’s historical volatility, investors should remain cautious about market risks.
This news does not constitute investment advice; please be aware of market volatility risks when investing.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
TAO Price Surges 43% Before Hitting Key Resistance: Huang Ren-hsueh AI Narrative Drives Rally, But Pullback Risks Are Accumulating
Driven by artificial intelligence narratives, Bittensor (TAO) has increased by 43% in the short term and is approaching a resistance zone, but it faces the risk of a price slowdown. Market sentiment is linked to the NVIDIA CEO's speech, and the upward momentum driven by emotions is limited. Technical indicators show overbought conditions, and a short-term pullback below $250 is possible. If it breaks through $300, it could rise to $312 or $329. Investors should pay attention to changes in market sentiment and capital flows.
GateNews16m ago
Prediction Markets Shift Collectively: Iran Conflict May Prolonged, Bitcoin and Inflation Face Intensified Pressure
Due to tensions in the Middle East, short-term ceasefire expectations have declined, affecting global inflation and interest rates, and putting pressure on risk assets like Bitcoin. Analysis suggests that high oil prices and high interest rates will continue to suppress the crypto market, with future market trends closely tied to geopolitical developments.
GateNews17m ago
BIS Warning: Retail Gold Buying Surges 3x, Wall Street Accelerates Selling, Market Volatility Risk Rises Across the Board!
The Bank for International Settlements report shows that over the past six months, retail investors have significantly increased gold investments, with purchase volumes growing approximately threefold, while institutional investors have continuously reduced holdings, forming a stark contrast. Retail investors' allocation to gold ETFs has reached approximately $70 billion, reflecting strong demand for safe-haven assets. Meanwhile, accelerated institutional position reductions and selling have triggered a pullback in precious metal prices, particularly with silver declining 34%. The strengthening dollar and leveraged capital flows have also intensified market volatility.
GateNews29m ago
Ethereum Staking Rate Breaks Through 31%, Institutional Inflows Accelerate Supply Squeeze
Ethereum's staking rate broke through 31.1% in March, reaching an all-time high, while centralized exchange ETH reserves fell to a new low. This has created a tightening effect on circulating supply, attracting institutions like BlackRock and Grayscale to accelerate staking. Staking activities demonstrate institutional confidence in Ethereum and may further influence ETH price. Supply tightening helps stabilize prices, but does not necessarily lead to appreciation.
MarketWhisper30m ago
PPI Surges + Middle East Tensions Escalate! Bitcoin Breaks Below $70,000, Why Is the Crypto Market Experiencing a Collective Downturn?
On March 19, the cryptocurrency market experienced a pullback due to the U.S. Producer Price Index (PPI) rising and escalating geopolitical tensions, with total market capitalization evaporating approximately $83 billion and Bitcoin declining to around $71,000. Risk-off sentiment increased in the market, altcoins showed weak performance, and LayerZero broke below $2.15. The U.S.-Iran conflict and rising energy prices exacerbated inflation concerns, with the market maintaining expectations for sustained high interest rates. U.S. regulatory advancement in security token offerings represents a long-term positive, but provides limited relief to near-term macroeconomic pressures.
GateNews31m ago
Pi Network Mainnet Faces Critical Test: Can Pi Coin Break Through the $0.18 Consolidation to Achieve True Value Revaluation?
Pi Network's Pi Coin is gradually transitioning into a real-circulation Layer 1 token. The token is currently fluctuating between $0.17 and $0.18, with market focus on user adoption and ecosystem implementation. As the mainnet opening approaches, token supply-demand imbalance is affecting the price, making it difficult to break out of the consolidation range in the short term. Long-term prospects depend on factors such as ecosystem expansion and user activity levels.
GateNews32m ago
