TerraClassicUSD (USTC), the collapsed UST, suddenly soared by more than 300% over the last 24 hours. The stablecoin has once again joined the top 100 cryptocurrencies as a result of this sudden increase.
TerraClassicUSD has managed to record a spike of more than 400% over the last 7 days despite the increased volatility associated with Terra’s recently issued coin LUNA 2.0. As of the time of writing, USTC is trading at an average price of about £0.034. Its 24-hour trading volume is £67.6 million, up 413%.
The data shows that in the past 24 hours, USTC’s total market capitalisation increased by almost £163 million to currently stand at £327 million. The stablecoin currently occupies position 84 among the top cryptocurrencies.
The price of Terra Classic (LUNC) has also increased significantly during the past few hours. Over the last 24 hours, LUNC has gone up by 50%. Its 24 hour trading volume increased by 600% to £288 million.
Data shows a significant inflow of capital during the last few hours. The market capitalisation of Terra Classic has risen by £169 million over the past 24 hours. The current value is £509 million. At press time, the token was trading at an average price of £0.000079.
Earlier, Do Kwon, co-founder of Terra, was criticised by the hacktivist group “Anonymous” in their most recent video. They described the historic crash of Terra during the bear market and promised to make it public. Anonymous further stated that Kwon would face legal prosecution.
The hacktivist group brought attention to claims that Kwon was withdrawing £65.2 million every month before the chain’s collapse. It stated that the team will be investigating Terra head’s activities since he entered the cryptosphere.
Terra (LUNA) price has also increased by more than 33%. As of the time of writing, it is trading at an average price of £2.17. However, compared to its all-time high of £15.9, it is down by 87%.