Breaking: USTC Soars 137% After This Strategic Investment

In a dramatic twist, the price of TerraClassicUSD (USTC) is on a massive uptrend today as it makes impressive an emphatic move to erase one zero.

Reasons for USTC Breakout

At the time of writing, market data places the price of USTC at $0.03568 after the algorithmic stablecoin rallied as high as 137.20% in the past 24 hours. For a token whose growth has been stagnant for the better part of the past week, it has now pared off its losses and extended its gains to 170% in the trailing 7-day period.

The growth stems from an update shared by an X user identified as Trader QT, an Official Partner of Luna Classic Labs. According to his revelation, a total of 25.6 million USTC worth about $500,000 has been acquired by Terra Classic Labs as part of its Treasury Reserve Policy at an average purchase price of $0.021 per USTC.

The USTC stablecoin which de-pegged from its intended $1 peg back in May 2022 has been placed on a different recovery model aimed at reviving its price. This latest acquisition from Terra Classic Labs might bolster this ultimate goal and serve as a major prop for the stablecoin.

This is a developing story, please check back for updates

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