TerraClassicUSD Hits Market Cap of $71.30 Million (USTC)

TerraClassicUSD (USTC) traded up 5.5% against the dollar during the twenty-four hour period ending at 11:00 AM E.T. on March 14th. One TerraClassicUSD coin can now be bought for about $0.0128 or 0.00000015 BTC on popular exchanges. Over the last week, TerraClassicUSD has traded up 1.5% against the dollar. TerraClassicUSD has a total market cap of $71.30 million and $6.98 million worth of TerraClassicUSD was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• Hedera (HBAR) traded 2.7% higher against the dollar and now trades at $0.20 or 0.00000233 BTC.
• Avalanche (AVAX) traded 4% higher against the dollar and now trades at $19.21 or 0.00022601 BTC.
• NEAR Protocol (NEAR) traded 5% higher against the dollar and now trades at $2.70 or 0.00003173 BTC.
• Internet Computer (ICP) traded 3.5% higher against the dollar and now trades at $5.67 or 0.00006666 BTC.
• Cronos (CRO) traded 2.9% higher against the dollar and now trades at $0.0835 or 0.00000098 BTC.
• Algorand (ALGO) traded 5.9% higher against the dollar and now trades at $0.20 or 0.00000240 BTC.
• Cosmos (ATOM) traded up 5.4% against the dollar and now trades at $4.13 or 0.00004860 BTC.
• Fetch.ai (FET) traded up 5.3% against the dollar and now trades at $0.52 or 0.00000611 BTC.
• Kava (KAVA) traded up 9.8% against the dollar and now trades at $0.48 or 0.00000560 BTC.
• Akash Network (AKT) traded up 4.3% against the dollar and now trades at $1.40 or 0.00001653 BTC.

TerraClassicUSD Coin Profile

USTC uses the hashing algorithm. It was first traded on April 24th, 2019. TerraClassicUSD’s total supply is 7,869,512,252 coins and its circulating supply is 5,554,587,641 coins. TerraClassicUSD’s official website is commonwealth.im/terra-luna-classic-lunc. TerraClassicUSD’s official Twitter account is @terra_money and its Facebook page is accessible here. TerraClassicUSD’s official message board is medium.com/terra-money.

According to CryptoCompare, “After the UST depegging, Terra community voted for governance proposal 1623, and a new chain will be created assuming the Terra name. The version represented on this page (the original chain) will still function and be re-branded as Terra Classic.The original Cosmos chain will still run, with market swaps (mint/burn function) disabled.All balances will remain as they are.Luna will become Luna Classic (LUNC).Terra stablecoins (UST, KRT, EUT, etc.) will be renamed Terra Classic stablecoins (USTC, KRTC, EUTC, etc.).CryptoCompare has taken the following steps to ensure data for both the new version of LUNA and the original LUNA Classic remained available throughout the process:Initially all data for the new version of LUNA was mapped to a temporary ticker called LUNA2, leaving 'LUNA Classic' data on the LUNA ticker.Once the majority of exchanges completed their intended actions and normal trading has resumed we moved all 'LUNA Classic' data from LUNA to its new ticker LUNC.Finally once all LUNA Classic data was cleared from the LUNA ticker we migrated all new LUNA data (held under LUNA2) back to the intended LUNA ticker.You can read more about the 'Terra revival plan' here.Terra aims to build a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native token, Luna. Terra’s mission is to set money free by building open financial infrastructure. Luna, as the native staking asset from which the family of Terra stablecoins derives their stability, utility, and value, acts both as collateral for the entire Terra economy and as a staking token that secures the PoS network. Luna can be held and traded like a normal crypto asset, but can also be staked to accrue rewards in the network generated from transaction fees. Luna can also be used to make and vote on governance proposals.The family of Terra stablecoins is designed to achieve stability through consistent mining rewards with a contracting and expanding money supply. For example, if the system has detected that the price of a Terra currency has deviated from its peg, it applies pressure to normalize the price. Currently, the family of Terra stablecoins includes: KRT (Terra stablecoin pegged to Korean Won), UST (Terra stablecoin pegged to US Dollar), MNT (Terra stablecoin pegged to Mongolian Togrog), SDR (Terra stablecoin pegged to IMF SDR), with more being added in the future.”

Buying and Selling TerraClassicUSD

It is usually not presently possible to buy alternative cryptocurrencies such as TerraClassicUSD directly using U.S. dollars. Investors seeking to trade TerraClassicUSD should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy TerraClassicUSD using one of the aforementioned exchanges.

USTC/USD price chart by TradingView