TerraClassicUSD (USTC) Trading Down 30% Over Last Week

TerraClassicUSD (USTC) traded 14% lower against the US dollar during the one day period ending at 10:00 AM Eastern on February 6th. One TerraClassicUSD coin can now be purchased for about $0.0107 or 0.00000011 BTC on exchanges. TerraClassicUSD has a total market capitalization of $59.41 million and approximately $8.24 million worth of TerraClassicUSD was traded on exchanges in the last day. In the last week, TerraClassicUSD has traded down 30% against the US dollar.

Here’s how related cryptocurrencies have performed in the last day:

• Avalanche (AVAX) traded 6.1% lower against the dollar and now trades at $25.46 or 0.00026039 BTC.
• Hedera (HBAR) traded down 7% against the dollar and now trades at $0.24 or 0.00000242 BTC.
• NEAR Protocol (NEAR) traded 5% lower against the dollar and now trades at $3.23 or 0.00003306 BTC.
• Internet Computer (ICP) traded down 5.3% against the dollar and now trades at $6.85 or 0.00007000 BTC.
• Cronos (CRO) traded down 7.8% against the dollar and now trades at $0.0992 or 0.00000101 BTC.
• Algorand (ALGO) traded 9.8% lower against the dollar and now trades at $0.28 or 0.00000281 BTC.
• Fetch.ai (FET) traded 8.2% lower against the dollar and now trades at $0.74 or 0.00000753 BTC.
• Cosmos (ATOM) traded down 8.2% against the dollar and now trades at $4.50 or 0.00004600 BTC.
• Akash Network (AKT) traded down 9.1% against the dollar and now trades at $1.90 or 0.00001934 BTC.
• Kava (KAVA) traded 7.4% lower against the dollar and now trades at $0.46 or 0.00000469 BTC.

TerraClassicUSD Profile

TerraClassicUSD uses the hashing algorithm. Its launch date was April 24th, 2019. TerraClassicUSD’s total supply is 7,874,985,722 coins and its circulating supply is 5,560,781,962 coins. TerraClassicUSD’s official Twitter account is @terra_money and its Facebook page is accessible here. The official website for TerraClassicUSD is commonwealth.im/terra-luna-classic-lunc. The official message board for TerraClassicUSD is medium.com/terra-money.

According to CryptoCompare, “TerraClassicUSD (USTC) is a digital asset built on the Terra blockchain and created due to the de-pegging of TerraUSD (UST) from the US dollar. USTC is designed to provide users with a digital asset that maintains a value relative to a basket of assets, including the US Dollar and other stablecoins. It is issued and managed by Terraform Labs and provides an easy and secure way to transfer value within the Terra network. In early May 2022, the price of Terra’s LUNA and UST tokens began to plummet, leading to the collapse of both tokens and the Terra network. To protect users, Terraform Labs moved users’ UST tokens to the Terra Classic wallet, exchanging them for USTC tokens, and providing more market liquidity.”

Buying and Selling TerraClassicUSD

It is usually not currently possible to purchase alternative cryptocurrencies such as TerraClassicUSD directly using US dollars. Investors seeking to acquire TerraClassicUSD should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase TerraClassicUSD using one of the exchanges listed above.

USTC/USD price chart by TradingView