TerraClassicUSD price

in TRY
₺0.55131
+₺0.010038 (+1.85%)
TRYTRY
Market cap
₺3.08B #206
Circulating supply
5.59B / 6.09B
All-time high
₺3.9656
24h volume
₺351.13M
1.5 / 5

About TerraClassicUSD

Official website
Github
Block explorer
CertiK
Last audit: Sep 26, 2022, (UTC+8)

TerraClassicUSD’s price performance

3 months
+18.97%
₺0.46337
30 days
+22.69%
₺0.44932
7 days
+9.92%
₺0.50152
Today
+1.85%
₺0.54127
82%
Buying
Updated hourly.
More people are buying USTC than selling on OKX TR

TerraClassicUSD on socials

Whale Sniper
Whale Sniper
Binance - USDT Market #USTC - Unusual activity 308K USDT in 3 minutes (11%) P: 0.01446000 ❇️ (3.29%) 24H Vol: 2.95M USDT
3.01K
2
IT Tech
IT Tech
🚨 Has #AltSeason finally kicked off? In the past 14 days, 52 of 56 majors have outrun Bitcoin, some by 30-40 % (see chart 1). It feels like alts are waking up… but one snapshot can fool you. Let’s zoom out.1/🧵 👇
449.36K
68
JT
JT
$USTC yay or nay here? F9rND8bg5pSfWepvgoDvuJimeKFThxFW3VWP8d2Vpump
6.34K
2

Guides

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View TerraClassicUSD’s price history
Track your TerraClassicUSD’s price history to monitor your holdings’ performance over time. You can easily view the open and close values, highs, lows, and trading volume using the table below.
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TerraClassicUSD FAQ

TerraClassicUSD (USTC), previously known as TerraUSD (UST), is the decentralized and algorithmic stablecoin of the Terra blockchain. It was created to deliver scalable DeFi solutions across chains. After the UST depeg and subsequent migration to Terra 2.0, UST is renamed to USTC and continues trading on the old Terra Classic Blockchain.

Unlike other stablecoins, the USTC price is not backed by a reserve of stable assets. Instead, USTC is an algorithmic stablecoin with prices maintained by Terra's market module algorithm. If the demand for USTC is higher than its supply, the price of USTC surpasses its dollar peg. In this case, the Terra protocol incentivizes users to burn LUNC and mint USTC, thereby increasing the supply of USTC to match the market demand and restore its peg.

On the other hand, if the USTC supply is higher than the market demand, it falls below its peg. Here, users are incentivized to burn USTC and mint LUNC, reducing the USTC supply.

Easily buy USTC tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include USTC/USDT.

You can also swap your existing cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), for USTC with zero fees and no price slippage by using OKX TR Convert.

Currently, one TerraClassicUSD is worth ₺0.55131. For answers and insight into TerraClassicUSD's price action, you're in the right place. Explore the latest TerraClassicUSD charts and trade responsibly with OKX TR.
Cryptocurrencies, such as TerraClassicUSD, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX TR and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as TerraClassicUSD have been created as well.
Check out our TerraClassicUSD price prediction page to forecast future prices and determine your price targets.

Dive deeper into TerraClassicUSD

TerraClassicUSD (USTC), previously known as TerraUSD (UST), is the decentralized and algorithmic stablecoin of the Terra Classic blockchain, created to deliver scalable DeFi solutions across chains. USTC is the name and ticker symbol of TerraClassicUSD.

Popular stablecoins like Tether (USDT) and USD Coin (USDC) are controlled by centralized companies. Conversely, USTC is an algorithmic stablecoin aiming to build a fully decentralized finance ecosystem.

To mint USTC, you must burn the equivalent USD amount of Luna Classic (LUNC). Terra's market module algorithm always allows you to trade 1 USD worth of LUNC for 1 USTC and vice versa, regardless of the market price of USTC. Arbitrageurs are, thus, incentivized to maintain the price of USTC every time the value of USTC fluctuates from the pegged price.

Terra has a list of other algorithmic stablecoins pegged to their fiat counterparts. For example, TerraKRW (KRT) tracks the South Korean Won. You can swap between Terra stablecoins with minimal fees, allowing you to exchange international currencies easily.

USTC price and tokenomics

USTC stablecoin does not have a capped supply. Instead, new USTC tokens enter into circulation when LUNC tokens are burned. After the UST depeg, UST is now known as USTC and only trades on the old Terra Classic blockchain.

Similarly, the original LUNA token is renamed Luna Classic, while the new Terra 2.0 token takes the name LUNA. Terra LUNA and most of its DeFi DApps migrated to the new Terra 2.0 chain. According to co-founder Do Kwon, USTC will not be migrated to the new Terra chain, and there will be no updated version of the algorithmic stablecoin.

About the founders

Daniel Shin and Do Kwon founded Terraform Labs in 2018. The Terra Alliance, a group of e-commerce companies in South Korea, incubated this software development company. Terraform Labs launched their USD-pegged stablecoin TerraUSD in September 2020.

Shin is a Wharton School graduate. Before creating Terra, he founded the leading e-commerce platform TMON, startup incubator Fast Track Asia and the popular Chai Payment app.

On the other hand, Kwon, a Stanford graduate, worked in Microsoft's natural language processing team. In 2019, he was also featured in the Forbes 30 Under 30 list.

Terra raised 58 million USD as of January 2021. Later, in their July 2021 funding round, they raised another 150 million USD. Their investors include big names like Pantera Capital, Galaxy Digital, and Coinbase Ventures, to name a few.

Disclaimer

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Market cap
₺3.08B #206
Circulating supply
5.59B / 6.09B
All-time high
₺3.9656
24h volume
₺351.13M
1.5 / 5
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