TerraClassicUSD Trading 5.4% Lower This Week (USTC)

TerraClassicUSD (USTC) traded down 3.4% against the dollar during the 1-day period ending at 7:00 AM E.T. on October 3rd. One TerraClassicUSD coin can currently be purchased for approximately $0.0057 or 0.00000007 BTC on major exchanges. TerraClassicUSD has a market capitalization of $31.85 million and approximately $1.28 million worth of TerraClassicUSD was traded on exchanges in the last 24 hours. Over the last seven days, TerraClassicUSD has traded down 5.4% against the dollar.

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

• Cronos (CRO) traded down 5.1% against the dollar and now trades at $0.0658 or 0.00000078 BTC.
• NEAR Protocol (NEAR) traded 4% lower against the dollar and now trades at $4.69 or 0.00005536 BTC.
• Avalanche (AVAX) traded down 1.7% against the dollar and now trades at $11.01 or 0.00013012 BTC.
• Hedera (HBAR) traded 4.4% lower against the dollar and now trades at $0.10 or 0.00000120 BTC.
• Internet Computer (ICP) traded 1.6% higher against the dollar and now trades at $3.32 or 0.00003926 BTC.
• Algorand (ALGO) traded down 3% against the dollar and now trades at $0.13 or 0.00000150 BTC.
• Cosmos (ATOM) traded 3.3% lower against the dollar and now trades at $1.68 or 0.00001985 BTC.
• Fetch.ai (FET) traded down 3.1% against the dollar and now trades at $0.22 or 0.00000266 BTC.
• Akash Network (AKT) traded 2.6% lower against the dollar and now trades at $0.65 or 0.00000772 BTC.
• Theta Fuel (TFUEL) traded 1.5% lower against the dollar and now trades at $0.0103 or 0.00000012 BTC.

TerraClassicUSD Profile

TerraClassicUSD (USTC) uses the hashing algorithm. Its genesis date was April 24th, 2019. TerraClassicUSD’s total supply is 6,075,305,368 coins and its circulating supply is 5,554,306,306 coins. The official website for TerraClassicUSD is www.terra-classic.io. The official message board for TerraClassicUSD is medium.com/terra-money. TerraClassicUSD’s official Twitter account is @terra_money and its Facebook page is accessible here.

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. Telegram, Discord, Reddit, MediumWhitepaper”

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 Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase TerraClassicUSD using one of the aforementioned exchanges.

USTC/USD price chart by TradingView