TerraClassicUSD (USTC) Hits Self Reported Market Cap of $36.71 Million

TerraClassicUSD (USTC) traded 6.6% lower against the US dollar during the 24 hour period ending at 9:00 AM E.T. on January 8th. One TerraClassicUSD coin can currently be purchased for approximately $0.0066 or 0.00000007 BTC on major exchanges. In the last seven days, TerraClassicUSD has traded up 2.3% against the US dollar. TerraClassicUSD has a market cap of $36.71 million and approximately $3.11 million worth of TerraClassicUSD was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Cronos (CRO) traded 6.3% lower against the dollar and now trades at $0.0997 or 0.00000111 BTC.
• Avalanche (AVAX) traded 4.4% lower against the dollar and now trades at $13.75 or 0.00015294 BTC.
• Hedera (HBAR) traded down 5% against the dollar and now trades at $0.12 or 0.00000132 BTC.
• NEAR Protocol (NEAR) traded 4.9% lower against the dollar and now trades at $1.67 or 0.00001856 BTC.
• Internet Computer (ICP) traded 5.9% lower against the dollar and now trades at $3.10 or 0.00003453 BTC.
• Cosmos (ATOM) traded 1.1% higher against the dollar and now trades at $2.45 or 0.00002731 BTC.
• Algorand (ALGO) traded down 5.4% against the dollar and now trades at $0.13 or 0.00000146 BTC.
• Fetch.ai (FET) traded 5.2% lower against the dollar and now trades at $0.27 or 0.00000300 BTC.
• Theta Fuel (TFUEL) traded up 1% against the dollar and now trades at $0.0197 or 0.00000022 BTC.
• PayProtocol Paycoin (PCI) traded 0.9% lower against the dollar and now trades at $0.0691 or 0.00000077 BTC.

About TerraClassicUSD

TerraClassicUSD (CRYPTO:USTC) uses the hashing algorithm. It was first traded on April 24th, 2019. TerraClassicUSD’s total supply is 6,085,149,793 coins and its circulating supply is 5,554,306,306 coins. TerraClassicUSD’s official Twitter account is @terra_money and its Facebook page is accessible here. The official website for TerraClassicUSD is www.terra-classic.money. 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 purchase alternative cryptocurrencies such as TerraClassicUSD directly using U.S. dollars. Investors seeking to trade TerraClassicUSD should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase TerraClassicUSD using one of the aforementioned exchanges.

USTC/USD price chart by TradingView