The cryptocurrency market continually provides a ray of hope to participants, only to brutally crash some time later. Just a day ago, the overall cryptocurrency market had turned green, but the bulls could not hold out for long. Today, once again, the market opened on a bearish note. Currently, the global crypto market has fallen by 2.31% in the last 24 hours and stands at $916.86 billion.

Even TerraClassicUSD (USTC), which had been thriving lately, has crashed along with other cryptocurrencies. At time of writing, TerraClassicUSD is trading at $0.0452 down 5.97% in the last 24 hours.

On the other hand, when USTC weekly trading is considered, the coin has gained over 50% by entering the top gainers list. This is mainly due to the immense social activity that pushed the coin to reach a high of $0.61 before falling.

In September, USTC had attempted to reach $0.06, a target that it was finally able to reach on the 10th of the month.

Rise Up in TerraClassicUSD Social Activity

Recently, Binance, the leading crypto exchange, announced its plans to list USTC as a borrowed asset on its platform. Apart from this, the other factor that has increased the social activities of the USTC is a proposal to peg the USTC back to the US dollar. This has given rise to debate among the community that has fueled the social activity of the USTC.

TerraClassicUSD was introduced after the Terra Network’s original LUNA chain and its TerraUSD (UST) stablecoin in May. It lost its peg against the US dollar, causing Terra (LUNA) to drop. Now the community is striving to regain lost trust with its innovative strategies.

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This post Terra Classic USD (USTC) surged 60% in 7 days, extended rally possible in next week

was published first on https://coinpedia.org/altcoin/terra-classic-usd-ustc-surged-60-in-7-days-is-extended-rally-possible-in-coming-week/

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