Unlike other stablecoins, the USTC price is not backed by a reserve of stable assets. Instead, USTC is an algorithmic stablecoin with prices maintained by Terra's market module algorithm. If the demand for USTC is higher than its supply, the price of USTC surpasses its dollar peg. In this case, the Terra protocol incentivizes users to burn LUNC and mint USTC, thereby increasing the supply of USTC to match the market demand and restore its peg. On the other hand, if the USTC supply is higher than the market demand, it falls below its peg. Here, users are incentivized to burn USTC and mint LUNC, reducing the USTC supply.

Where can I buy USTC?

Easily buy USTC tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include USTC/USDT . You can also swap your existing cryptocurrencies, including Bitcoin (BTC) , Ethereum (ETH) , Tether (USDT) , and USD Coin (USDC) , for USTC with zero fees and no price slippage by using OKX Convert .

How much is TerraClassicUSD worth today?

Currently, one TerraClassicUSD is worth $0.015550. For answers and insight into TerraClassicUSD's price action, you're in the right place. Explore the latest TerraClassicUSD charts and trade responsibly with OKX.

What is cryptocurrency?

Cryptocurrencies, such as TerraClassicUSD, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.

When was cryptocurrency invented?

Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as TerraClassicUSD have been created as well.

TerraClassicUSD price

USTC

1.5/5

TokenInsight

1.5

11/09/2022

The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.

USD

$0.015550

+3.73%

24h

All

TerraClassicUSD price live data

The current price of TerraClassicUSD is $0.015550. Since 00:00 UTC, TerraClassicUSD has increased by +3.74%. It currently has a circulating supply of 5,580,026,011 USTC and a maximum supply of 9,784,317,475 USTC, giving it a fully diluted market cap of $86.71M. At present, TerraClassicUSD holds the 0 position in market cap rankings. The TerraClassicUSD/USD price is updated in real-time.

TerraClassicUSD price performance in USD

Time period	Change amount	%Chg
Today	$0.00056000	+3.73%
7 days	-$0.00249	-13.81%
30 days	-$0.00637	-29.07%
3 months	-$0.00985	-38.78%

TerraClassicUSD market information

24h low$0.014260

Last price $0.015550

24h high$0.015940

Market cap

$86.71M

2.36%

All-time high

$0.098760

-84.26% (-$0.08321)

Jun 29, 2022 (2 years ago)

All-time low

$0.0058400

+166.26% ($0.0097100)

Jun 19, 2022 (2 years ago)

ICO date

04/24/2019

$1.0000

5,580,026,011 USTC

$152.05M

About TerraClassicUSD (USTC)

TerraClassicUSD (USTC), previously known as TerraUSD (UST), is the decentralized and algorithmic stablecoin of the Terra Classic blockchain, created to deliver scalable DeFi solutions across chains. USTC is the name and ticker symbol of TerraClassicUSD.

Popular stablecoins like Tether (USDT) and USD Coin (USDC) are controlled by centralized companies. Conversely, USTC is an algorithmic stablecoin aiming to build a fully decentralized finance ecosystem.

To mint USTC, you must burn the equivalent USD amount of Luna Classic (LUNC). Terra's market module algorithm always allows you to trade 1 USD worth of LUNC for 1 USTC and vice versa, regardless of the market price of USTC. Arbitrageurs are, thus, incentivized to maintain the price of USTC every time the value of USTC fluctuates from the pegged price.

Terra has a list of other algorithmic stablecoins pegged to their fiat counterparts. For example, TerraKRW (KRT) tracks the South Korean Won. You can swap between Terra stablecoins with minimal fees, allowing you to exchange international currencies easily.

USTC price and tokenomics

USTC stablecoin does not have a capped supply. Instead, new USTC tokens enter into circulation when LUNC tokens are burned. After the UST depeg, UST is now known as USTC and only trades on the old Terra Classic blockchain.

Similarly, the original LUNA token is renamed Luna Classic, while the new Terra 2.0 token takes the name LUNA. Terra LUNA and most of its DeFi DApps migrated to the new Terra 2.0 chain. According to co-founder Do Kwon, USTC will not be migrated to the new Terra chain, and there will be no updated version of the algorithmic stablecoin.

About the founders

Daniel Shin and Do Kwon founded Terraform Labs in 2018. The Terra Alliance, a group of e-commerce companies in South Korea, incubated this software development company. Terraform Labs launched their USD-pegged stablecoin TerraUSD in September 2020.

Shin is a Wharton School graduate. Before creating Terra, he founded the leading e-commerce platform TMON, startup incubator Fast Track Asia and the popular Chai Payment app.

On the other hand, Kwon, a Stanford graduate, worked in Microsoft's natural language processing team. In 2019, he was also featured in the Forbes 30 Under 30 list.

Terra raised 58 million USD as of January 2021. Later, in their July 2021 funding round, they raised another 150 million USD. Their investors include big names like Pantera Capital, Galaxy Digital, and Coinbase Ventures, to name a few.

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