USTC Hikes 200% In 24 Hours Following Strategic Investment

TCL made an acquisition of 25.6 million USTC, amounting to $500,000 with average price of $0,021 per USTC.

Algorithmic stablecoin TerraClassicUSD (USTC) pumped more than 200% in 24 hours, reigniting hopes for Terra Classic (LUNC) recovery. The news follows the strategic investment made by Terra Classic Labs (TCL).

I can confirm that today, in an initial strategic investment, Luna Classic Labs has purchased approximately 25.6m $USTC for $500k in accordance with its Treasury Reserve Policy, at an average price of approximately $0.021 per $USTC.
— 0xEars (@0x_Ears) November 26, 2023

According to Coinmarketcap, the USTC price has soared to almost $0.0544. TCL’s acquisition of 25.6 million USTC, amounting to $500,000 with an average purchase price of $0.021 per USTC, has revitalized the USTC ecosystem. TCL made the acquisition as part of its Treasury Reserve Policy.

TerraClassicUSD | Source : coinmarketcap

This surge in USTC’s value has sparked a ripple effect, propelling LUNC to a notable increase of $0.00009957. USTC stablecoin de-pegged from $1 in May 2022. The positive sentiment surrounding USTC’s recovery is expected to rejuvenate the entire Terra Classic ecosystem.

The recent surge in prices validates the Terra Classic community’s unwavering support for USTC and LUNC, showcasing the immense influence of collective action in shaping digital asset trajectories.

Also Read: Terraform Labs Announces $15M Boost for Terra Ecosystem

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