"I didn't expect USTC to go crazy high after being silent for so long."
Unwittingly, the algorithmic stablecoin TerraClassicUSD (USTC) shocked the entire cryptocurrency market when its price managed to climb to $0.047 from $0.013 on November 25, 2023.
The massive increase in USDTC was triggered by an update shared by user X called Trader QT, an Official Partner of Luna Classic Labs that revealed a total of 25.6 million USTC worth $500,000 was acquired by Terra Classic Labs as part of the Treasury Reserve Policy.
Earlier, USDT was placed on a recovery model to recover its price, but the latest acquisition by Terra Classic Labs may support its main goal of serving as the main supporter of the stablecoin.
In addition to stabilizing USTC's liquidity, Terra Classic Labs which currently has a clear motive also intends to rise again and become an investment asset that can increase user holdings.
Terra Classic Labs who bought a large amount of USTC when the price was at $0.021 has seen his investment grow by 76.6%.
Since the fate of USTC is tied to the Terra Classic token (LUNC), there is a possibility for its price to climb higher plus there is a community trying to increase its value through upgrades and burning.
As of this writing, the price of USTC surged by 168.91% at $0.041 in the last 24 hours with a market capitalization of $371 billion and recorded a 212.39% increase over the last week while LUNC gained 26.81% at $0.000097.
