Terra ecosystem stablecoinservice TerraClassicUSD, 46 millionIt rose with an inflow of $.
The UST, which emerged with the restructuring after the Terre crisis, fix for $1 is on its way with firm steps. The slow recovery of the ecosystem after its disintegration is also giving positive signals for the stablecoin. Especially Do Kwon ‘s legal developments are losing their impact on the ecosystem. Cryptocurrency traders planned the possibility of pegging at $1 for USTC. With burn mechanisms, exchange support, and community action, the popular stablecoin is making bulls hungry.
USTC Spends the Day Up 10 Percent
After the short-term mass uptrend in the crypto market, the market started to turn red again. However, USTC, which was thought to have collapsed, managed to get the bulls behind it again.
FinboldAccording to data shared by USTC, about 15 percent experienced a rise. Also, last week, about 20 percentIt had a rise.
In the last 24 hours, the popular stablecoin has reached a market cap of $400 billion. There was an inflow of 46 million dollars on the purchase side of the project. In other words, the market value of the project increased by 12 percent in one day.
USTC technical analysis started to give positive signals. The project, which has become a buy in daily metrics, indicates that the bulls are hungry.
Why Is USTC Rising?
Terra managed to survive the crisis stablecoin It has the support of the community. Especially Terra Rebels, spends a lot of time on the ecosystem of the project.
Three weeks ago on the USTC side, the transition to the PoS side caught the attention of the community. The thought of restructuring and creating an ecosystem for stablecoin contributed positively to the development of the project. After these developments, stablecoin experienced a 35 percent rise.
