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TürkçeTerraClassicUSD Information
TerraClassicUSD has garnered attention as a stablecoin that aims to provide a reliable alternative in the ever-evolving cryptocurrency landscape. Its unique mechanisms are designed to maintain price stability, appealing to both investors and users alike. As the crypto market continues to mature, TerraClassicUSD's resilience will be crucial in determining its role within the broader ecosystem.
TerraClassicUSD (USTC) is a cryptocurrency that has undergone significant evolution since its inception, mainly as part of the Terra ecosystem. As a once-prominent stablecoin, it aimed to provide stability and scalability to the blockchain domain. However, its journey has been marked by volatility and substantial shifts in market dynamics.
A Brief History of TerraClassicUSD
Launched as part of the Terra blockchain's broader ambitions, TerraClassicUSD initially targeted the stablecoin sector with a unique algorithmic backing. The coin's price was intended to remain stable against the US dollar, leveraging a dual-token system involving LUNA to maintain its peg. At its all-time high (ATH) of $1.092 on January 11, 2021, USTC stood as a leading stablecoin, attracting considerable interest and investment.
However, the system faced a catastrophic collapse in May 2022, leading to the de-pegging of USTC from the USD. This event not only devastated the value of USTC but also significantly impacted the entire Terra ecosystem, resulting in the rebranding and restructuring of the original Terra network.
Current Market Standing
As of the latest data, TerraClassicUSD trades at approximately $0.0225, reflecting a dramatic decline from its ATH. With a market capitalization of around $130 million, USTC has rebounded modestly since its all-time low of $0.00601921, achieved on June 18, 2022. The circulating supply currently sits at around 5.83 billion, with a total supply of nearly 8.14 billion tokens.
Pros and Cons of TerraClassicUSD
Advantages
One of the primary advantages of USTC is its historical association with the Terra ecosystem, which continues to evolve and develop. Additionally, the coin's low price point makes it accessible for new investors looking to enter the cryptocurrency space without significant financial commitment. The rebranding of the Terra protocol has also fostered a new community dedicated to rebuilding and promoting USTC.
Disadvantages
Conversely, USTC faces monumental challenges in regaining the trust of investors. The aftermath of the 2022 collapse has left a shadow over the coin, and many potential investors remain skeptical about its future viability. The volatility that led to its downfall is still a concern, and the lack of robust mechanisms to ensure price stability poses a significant risk. Moreover, the decreasing interest in algorithmic stablecoins, particularly following the collapse of other similar projects, may hinder USTC's recovery trajectory.
Future Outlook for TerraClassicUSD
The future of TerraClassicUSD hinges on several factors, including the ongoing recovery efforts within the Terra community and the broader acceptance of algorithmic stablecoins in the cryptocurrency market. If the Terra ecosystem can prove its resilience and adaptability, USTC may witness a resurgence in interest and value.
However, investors should remain cautious and conduct thorough research when considering USTC. Its potential for growth exists, but so do the risks associated with its tumultuous past. In conclusion, while TerraClassicUSD embodies both significant potential and pitfalls, its path forward remains uncertain, requiring careful monitoring and analysis.
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from price
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General Information |
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Title
TerraClassicUSD
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Symbol
ustc
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Whitepaper
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Website
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Community
-
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Last Updated
2024-12-08 23:59
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Price Data |
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Current Price $
0.02960493
$
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High 24h
0.03030675
$
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Low 24h
0.02886018
$
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Price Change 24h
0.0001941
$
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Price Change % 24h
0.65997
%
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Market Data |
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Market Cap
164904155
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Total Volume
18760577
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Market Cap Change 24h
1375806
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Market Cap Change % 24h
0.84133
%
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Return on Investment (ROI)
-
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Supply and Availability |
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Circulating Supply
5562954701.5727
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Total Supply
7876871264.7317
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Max Supply
-
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Historical Data |
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All Time High (ATH)
1.092
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ATH Change %
-97.29502
%
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ATH Date
2021-01-11 22:30
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All Time Low (ATL)
0.00601921
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ATL Change %
390.69298
%
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ATL Date
2022-06-18 20:35
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