TerraUSD Classic (USTC) Up 25%, What's Happening?
The TerraUSD Classic Run According to data from CoinMarketCap, the TerraUSD Classic stablecoin is up by 25.48% over the past 24 hours to $0.01624. While it remains unclear what is driving the resurgence in the stablecoin at this time, it is worth noting that the growth appears organic, taking a look at its overnight buying momentum. advertisement Per the data, more than $92.4 million worth of the stablecoin has been traded over the past 24 hours, a figure that has grown by 702%. The massive embrace of the stablecoin appears to have pushed its price to the highest level in more than a month. As a stablecoin pegged to the United States Dollar on a 1:1 basis, USTC is supposed to be trading at a price of $1, however, since its historic de-pegging event more than a year ago, USTC has been trading considerably lower with a 52-week high of $0.06. The de-pegging of TerraUSD Classic resulted in a lot of pangs for the broader digital currency ecosystem as its ripple ef...