TerraClassicUSD jumps over 35 in 24 hours as repeg proposal emerges

After the broadly publicized collapse of Terraform Labs’ stablecoin TerraUSD (UST) and its native token Terra (LUNA), the stablecoin now under the name TerraClassicUSD (USTC) has seen its price rally to a monthly high as the Terra Classic community welcomes the re-peg proposal. Tobias Andersen, a blockchain engineer and senior developer at Bitcoin Suisse AG. TerraClassicUSD price rallied to a new monthly high; the cost of USTC, Terra Classic’s algorithmic stablecoin, has climbed by over 37.44% and is now trading at $0.04057 on October 10, up from $0.02989 just a day earlier. Similarly, the Terra Classic (LUNC) token, which represents the native governance and utility digital assets of the Terra Classic network, saw a slight increase in value.