USTC

levipupu90

What happened with FTT, USTC, LUNA, LUNC? When the pump Btc likes to prep for a big red candle...

partymsl

I think USTC already had a ton of pegging...

coinfeeds-bot

tldr; Terra Luna Classic has announced a plan to restore the value of its stablecoin USTC to its original dollar value. The plan, proposed by Vegas Morph, includes oracle integration, a new burn mechanism, and a 'kill switch' to prevent system abuses. Following the announcement, LUNC's price increased by 15%. The proposal aims to stabilize USTC by reactivating the market module, incorporating real-time price feeds, implementing a burning mechanism for transaction fees, and setting a hard cap on LUNC and USTC supply. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Crypto analyst Javon Marks predicts Terra Classic USD (USTC) could see a 360% increase, potentially starting this month and peaking in September. Marks bases his prediction on USTC's Bullish Divergence, higher lows, and a strong relative strength index (RSI), suggesting a bullish environment. He anticipates USTC could reach $0.08097. Despite losing its dollar peg in May 2022, USTC has shown signs of revival, partly due to community-led burns, with over 2.32 billion USTC burned since then. Marks also made bullish predictions for Terra Classic (LUNC), suggesting a potential 5.7x price gain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

SuperiorFarter

That’s what I thought when USTC fell under 1 cent.

quentinL52

the infamous LUNA. bought very low sadly i was on a trip and did not get the chance to manage my fund when it went down, fun part is that i went with USTC too for that juicy staking rewards. lost more than half my portfolio in that mess. the googd part is that now i have recover 2x of what i initialy lost

puttjatt

Nah that was USTC

Beer101010

Sure thing since it went so well with USTC / LUNA. I wish he keep his mouth shut more often. And i do hold ada...

reddorical

I think the ticker USTC is available 😁

njamimaranga

Crypto Coin | Portfolio(%) |Price Value($) | Exp Value :--|:--:|--: GAS | 25 | 7.1 | 30 USTC | 25 | 0.0276 | 0.08 SUPER | 12.5 | 0.059 | 1.5 MEME | 12.5 | 0.025 | 0.04 BONK | 12.5 | 0.000012 | 0.000025

njamimaranga

Also don't forget to throw some on GAS, USTC, MEME, BONK, SUPER, SANTOS, AVAX. I'm just hoping BTC crabs for a little time until 1st February and gives me time to search Money. Because once it's over. These coins will triple in value and the price they are currently is a joke. It's unbelievable how people can't see a good opportunity like this.

coinfeeds-bot

tldr; Terra Luna Classic (LUNC) and LUNA have experienced strong buying pressure, with LUNC's price jumping from $0.000115 to $0.000145 before facing a liquidation event. LUNA has seen long liquidations but no short liquidations yet. Both cryptocurrencies have recovered from recent dips and are facing resistance at higher price levels. Open interest for both has declined, indicating active buying near low points. The Terra Luna Classic community has rejected proposals to burn USTC, focusing instead on chain development and project liquidity. LUNC is currently trading at $0.00013, while LUNA is at $0.74, with both facing potential resistance ahead. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Equivalent_Rip375

$BTC buy AVAX $AVAX exchange for USTC $USTC

gunshotacry

Oh wow, thanks again. I was doing cross chain. I'll try bETH to USTC

GanjaMan4Twenty

A lotta foam right now bruh. Once it settles I’d assume so. What’s more important is looking at USTC until the foam settles. Then again this is all just speculation… anything can happen 😎

coinfeeds-bot

tldr; The article discusses the resurgence of Terra Luna Classic (LUNC) and Terra Classic USD (USTC) in the cryptocurrency market. The community's proposal shift has led to significant gains for both tokens, with LUNC re-entering the top 50 by global market cap and USTC experiencing a 400% increase in value. The article also mentions the upgrade of the Terra Luna Classic chain to address a sequence mismatch issue and the strategic buying strategy for USTC. Additionally, upcoming developments like a DeFi card and the influence of MintCash UST 2.0 on USTC's price are discussed. Overall, the article highlights the positive momentum and developments within the Terra Classic community. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Smush-D

This burn is from Binance alone,other exchanges where they are listed can join the burn process and accelerate the total burns. Having said that,I don’t know if they will return to the former glory as you postulated but imo if they can get to a dollar from the position they are now and repeg USTC that would be a huge achievement. Even as we talk now Lunc is the highest gainer in binance. It is going parabolic.

coinfeeds-bot

tldr; The relevant text for the article title "USTC skyrockets after LUNC vote as rising AI altcoin trends on Reddit" is not found in the given text. Therefore, the summary is an empty string. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Nathanv92

Guys I just came back after 3 yrs. What happened to USTC!!!??

Matttombstone

People will FUD tokens without really reading into it. There's the mentality that LUNC and USTC failed therefore must be bad, and any work going into it must be a scam to try get more money out of people. Of course there's always that small potential, but USTC and LUNC were run by Do Kwon and Terra Form Labs. They are no longer run by DK or TFL, they are run by a separate group with community backing. There are plans to repeg USTC. Last I read, they wanted to ensure the swap mechanism was returned with LUNC as well. LUNC is being burned, even Binance burns LUNC and supports the community. They burned 3.9B tokens this month, worth $717,483, that's a sizable chunk. If the largest exchange is supporting it, there has to be something there. If USTC does indeed repeg, there's a potential for a near 17x gain from current prices. If the plans to have LUNC and USTC swappable does get implemented, there's the potential for LUNC to burn like crazy, it could also make massive gains. It's an interesting project, because if it does work out, it can quite literally make people a lot of money. It has a little more to it than "look, it dog". I do believe if it worked out, it'll be the biggest come back story in crypto history, and I think crypto as a whole really needs a story like this. Everyone shits on the project, but if they backed it and supported it and saw it return to some form of glory, it could have massive, positive impact on Crypto as a whole.

Staxu9900

Not bad, I managed to buy at the bottom in 2021 and sadly sold just before pump when CZs drama came out, but I only put £10 each to USTC and LUNA just as “oh what the hell, why not”, can’t see buyers like me can cause this shit pumping like this. It more looks like, “yeah…sniff sniff, fuk it, Im all in, LAMBO BEGORE CHRISTMAS 🤪🍾👏🥳🎉🍻🎊🙌🏾

Ashamed_Moment_2477

True…seems like want to reestablish the pairing. So pumping till USTC is again 1$

Environmental_Toe603

I bought 50$ worth of USTC a while ago because I saw people are putting thought and effort into revitalising it.

Smush-D

Are you aware that Binance has been burning 🔥 the token every month? This month alone they burnt like 4b Lunc(if my figures are correct) and next month might even be higher and coupled with the new USTC pairing. These are the real factors driving the prices not those things you listed above.

blockroad_ks

In the case of USTC, the Anchor devs have released a complicated proposal to swap and burn USTC for another coin. There's also a repeg proposal, Binance have listed some new trading pairs, and a few other ideas being floated around. LUNC is decentralised and has no connection to TFL anymore. It's full of drama and if you're interested in learning about tokenomics and crypto fundementals, it's an interesting place to be.

piggleii

Is it possible to mint LUNC for USTC at the moment?

Super_Iron6408

Lunc and USTC are blowing through the roof, they might actually make a comeback

Casaltaln

What surprised me the most was USTC. Ustc, Sol, Gas, and Krest actually beat my expectations by performing so well. I'm glad I have a decent amount in each, so I'm not left out in any way.

coinfeeds-bot

tldr; The article discusses Binance's decision to remove nearly four billion Terra Luna Classic (LUNC) coins from circulation, leading to a surge in community excitement. This move by Binance signifies a five-fold increase in the monthly Terra Classic burns. The Terra Classic community is also urging Binance to burn Terra Classic USD (USTC) as well. The article highlights the positive impact of cryptocurrency burning on the long-term market value and viability of the cryptocurrency. Additionally, it mentions the significant price increases for LUNC and USTC, marking the most successful month for these altcoins since 2022. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; The article discusses the significant 300% gain of TerraClassicUSD (USTC) in a week, driven by plans for a bitcoin-backed revamp and a Binance perpetual contract listing. USTC and LUNC are remnants of the failed Terra ecosystem, which collapsed last May. The gains occurred as Binance started offering perpetual contracts for USTC with up to 50x leverage, and there is increasing anticipation of a USTC revamp plan that would use bitcoin as a foundation. The recent developments have unleashed a speculative frenzy around the token, with trading volume exploding in the last few days. This surge comes after the collapse of the Terra ecosystem, which led to the deployment of a new version of the Terra blockchain with a brand new native token called LUNA, consequently renaming the old blockchain to Terra Classic and the tokens to LUNC and USTC. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; The article discusses the significant bullish momentum gained by LUNC and USTC following Binance's addition of new spot trading pairs. Binance listed two USTC trading pairs on Spot, leading to a momentous weekly run for USTC. Terra Luna Classic tokens soared, with USTC experiencing a 52.5% run and LUNC obtaining 25.5% profit in the last 24 hours. The article also highlights the efforts to revitalize Terra Classic's blockchain and the potential historical precedent if the community manages to repeg the stablecoin to $1. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

customtoggle

USTC to the moooooon! \#NotManipulated, #NaturalMovements, #FutureOfFinance, #USDTBillionMagicBeans

coinfeeds-bot

tldr; The article discusses the significant price increase of USTC following the decision by the Terra Luna Classic community to address a critical sequence mismatch issue. The community passed a proposal to incorporate a dynamic validator commission module to tackle the issue, resulting in a triple-digit daily run for Terra Classic tokens. The approval of the proposal led to a substantial increase in USTC and LUNC prices, with USTC experiencing a 303% upswing. The article also highlights the impact on Terra Classic USD and Terra Classic’s native $LUNC, as well as the bullish breakout confirmed by the daily charts. Additionally, it mentions the gains made by Terra Luna Classic and the potential for a run towards higher price ranges. The article emphasizes the significance of community proposals in making effective decisions democratically. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

BlockMeReddit

So you obviously got in on the recent 300+% USTC that happened over the last few days, right? Because, I mean, technical analysis, right?

verysillyman

USTC Terra Classic UST is doing over 100% gain a day for some reason

internetisbad23

They started with the new process of repegging USTC to $1. hence even USTC is pumping ~120% or atleast it was yesterday. From the 6.something trillion LUNC they burned some 200-300billion tokens. (Not sure of correct numbers)

kenken2k2

USTC, a supposingly stable coin bumped up 500% Imagine the fuck that. a stable coin, 500%, i cant make this up.

Super_Iron6408

USTC is going through the roof, daily trading volume over twice the market cap. Someone has some inside info 🤔

JozeeCat

USTC

bl4ckj4ck1

FTT +150% LUNA+80% LUNC +40% USTC+35% Thoughts?

coinfeeds-bot

tldr; The article discusses the recent destruction of 778 million LUNC tokens by Binance, as part of Terra Classic's efforts to revitalize its cryptocurrency. This burn brings the total number of burned tokens to 76 billion, reducing the total supply of LUNC. The article also mentions the request by the Terra Classic community for Binance to perform a similar burning procedure with Terra Classic USD (USTC). The price of LUNC has seen a 5% gain following the burn, but still faces a 2.5% deficit in weekly terms. The article emphasizes that crypto burning does not always result in immediate price gratification, and that the long-term value of a coin depends on building on-chain and adoption cases. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Holiemolie93

Celsius gives a nice interest rate on USTC the last time I looked there

gazman195

Started at the end of 2017 but last year was the roughest by far. Getting funds stuck in Celsius and Vauld didn't help. Barely dodged USTC as well.

IanfinityXD

USTC, has a very low market cap

Wonzky

And looks like it did shit all, as expected Why would USTC ever repeg to $1? The project is dead, founders in jail, this just seems like bag holders trying to offload whatever they can

coinfeeds-bot

tldr; Binance has burned 1 billion Terra Luna Classic (LUNC) tokens in its monthly burning batch. The Terra Classic community has also voted for Binance to start burning $USTC tokens. This could potentially boost the market price of $USTC and re-peg it back to $1 USD. The community is taking steps to revitalize the embattled blockchain, including burning tokens and reducing the supply. Terra Classic members have also suggested a hard cap on $LUNC tokens. The Terra Classic chain is still active and decisions are made through governance proposals. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

South-Security-Mouse

I can see MOON going to $1 before USTC does

coinfeeds-bot

tldr; The article discusses a proposal submitted to the Terra Classic community to halt the minting of USTC, a cryptocurrency that de-pegged from the US dollar. The proposal aims to close loopholes in the minting mechanism and allow for the re-pegging of USTC to the US dollar. After a voting process, the proposal to halt minting and reminting was passed, which could have a positive impact on the token's price. The article suggests that if USTC were to regain its dollar peg, its market cap could reach around $9 billion. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

mnkbstard

a token that was supposed to be 1:1 with USD completely depegs and can't recover after a year. *if this proposal successfully restores the token value, it will prove once for all that the USTC algo token is a reliable alternative to USD backed tokens....* i couldn't say this without laughing, but writing bullshit is actually easier.

MarcusStoic

Here are some major news in Crypto from yesterday: 🌕 Upbit identifies and halts fake $APT tokens deposited by scammers, suspends APT transactions, and is contacting affected users. 🌕 Over 200k Chileans complete Worldcoin ID verification amid investigations into the company in multiple countries. 🌕 SEC seeks statement from Terra Co-Founder Do Kwon amid lawsuit, while he's imprisoned in Montenegro, raising questions in crypto circles. 🌕 Expected heightened Bitcoin volatility as $3B in options expire on Sept. 29, marking the end of the month and quarter, potentially impacting prices. 🌕 TerraClassic community votes to halt minting of Terra Classic USD (USTC) to aid recovery after the Terra ecosystem's $45B collapse. 🌕 Judge extends defense time in SEC's case against Justin Sun and company to Dec 8, 2023, for possible resolution exploration. 🌕 FTX's ex-legal team refutes claims of aiding Sam Bankman-Fried's alleged fraud, stating their services were within legal bounds. 🌕 Ex-Deutsche Bank exec Rashawn Russell pleads guilty to crypto fraud, facing 30 years and $1.5M restitution. 🌕 Singapore Police seize $2.4B in assets amid major money laundering probe, doubling initial figures. 🌕 BananaGun sees trading volume soar to $250M, with a daily average of $2.2M, indicating rising user interest.

MarcusStoic

Here are some major news in Crypto today: 🌕 Upbit identifies and halts fake $APT tokens deposited by scammers, suspends APT transactions, and is contacting affected users. 🌕 Over 200k Chileans complete Worldcoin ID verification amid investigations into the company in multiple countries. 🌕 SEC seeks statement from Terra Co-Founder Do Kwon amid lawsuit, while he's imprisoned in Montenegro, raising questions in crypto circles. 🌕 Expected heightened Bitcoin volatility as $3B in options expire on Sept. 29, marking the end of the month and quarter, potentially impacting prices. 🌕 TerraClassic community votes to halt minting of Terra Classic USD (USTC) to aid recovery after the Terra ecosystem's $45B collapse. 🌕 Judge extends defense time in SEC's case against Justin Sun and company to Dec 8, 2023, for possible resolution exploration. 🌕 FTX's ex-legal team refutes claims of aiding Sam Bankman-Fried's alleged fraud, stating their services were within legal bounds. 🌕 Ex-Deutsche Bank exec Rashawn Russell pleads guilty to crypto fraud, facing 30 years and $1.5M restitution. 🌕 Singapore Police seize $2.4B in assets amid major money laundering probe, doubling initial figures. 🌕 BananaGun sees trading volume soar to $250M, with a daily average of $2.2M, indicating rising user interest.

coinfeeds-bot

tldr; The Terra/Luna ecosystem has voted to discontinue the minting of the USTC stablecoin, also known as Terra USD. The decision was made through a software update, with 59.42% of the community in favor and 40.56% against. The move aims to address the deviation of USTC from its peg to the US dollar and pave the way for a re-pegging of the stablecoin. The community is optimistic about achieving this re-peg and the decision highlights the importance of community consensus in stablecoin governance. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Affectionate_Hand_76

1. Terra Classic community votes to stop minting Terra Classic USD (USTC) after loosing 99.99 %of its value. 2. Base surges past Solana as total value locked nears $400M. 3. Crypto exchange Bybit suspending services in U.K. after warning from FCA. 4. Crypto market crabs to new range. MOON’s below 0.30, BTC below 26.5 K & ETH at 1580. Notable Financial Dates Coming Up: * September 27 - Moons snapshot. * September Jobs Data: October 06. * October 13 - SEC deadline to appeal against Grayscale spot ETF. * October 16 - SEC deadline to file response against Bitwise Bitcoin ETP trust.

0xjoel

Why did they suspend the USTC mint tho Curious?

Flamesinwater

Bought some USTC today, guess it’s got the same chance of repeg as does Bitcoin hitting 500K or DOGE reaching a dollar. With Do Kwon gone, the Terra community is truly decentralized now and trust will slowly rebuild. USTC will stay deflationary until repeg at the very least and that is very attractive at this point. The only legit competition for USTC is USDC and it’s fully centralized, you are better off buying the dollar from the federal reserve.

coinfeeds-bot

tldr; The Terra Classic community has voted to cease minting and reminting activities for TerraClassic USD (USTC) in order to stabilize its peg to the U.S. dollar. The move aims to protect the interests of the community and external investors by reducing the supply of USTC. This decision comes after USTC detached from the U.S. dollar in May 2022, causing a significant decline in Terra's value and a broader downturn in the crypto markets. The proposal also suggests that major crypto exchanges will start burning USTC. The community has been concerned about spam and has recently voted to increase the minimum deposit requirement. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

hungry-father

Why would someone honestly buy USTC after we saw that basically all algorythmic stablecoins are a scam/ponzi

DonerTheBonerDonor

Fun fact: If you bought $1 worth of Luna Classic (LUNC, not USTC) right now and it went up to its ATH of >$100, you'd have $2,000,000. All from a $1 investment. So yeah, let's just get rid of Luna and everything it stands for, it should no longer be a part of crypto.

Burzzzt88

Not sure what surprises me more. The fact that people invest in USTC or the fact there is still a community behind it

coinfeeds-bot

tldr; The Terra Classic community has voted to stop minting Terra Classic USD (USTC), the algorithmic stablecoin that caused the collapse of the Terra ecosystem. The decision aims to protect the community and outside investors by halting the swapping mechanism that led to the de-pegging of UST in May 2022. The community hopes to burn the trillions of tokens created during the collapse and eventually regain the coin's original $1 peg. So far, only 1% of the circulating tokens have been burned. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Cryptolurker040

USTC is still a thing? Is it like a stable meme coin?

Clpunit

Add some complexity, tell John that USTC is also a stablecoin!

Farquea

I could but I want to get rid of the USTC and convert it to BTC not hold it

Kaybest_

I have never heard of USTC. But damn these regulators are catching up with binance

Farquea

I did and told me as a Canadian user I can't (re)verify. I can withdraw I just don't know where to withdraw the USTC too. Coinbase has it but its not on the same network.

FattestLion

USTC is a sure bet. Heard it’s going back to $1.00 !

FattestLion

USTC looks pretty stable below 10 cents

Clpunit

If you had to store all your crypto funds in a stable coin for 3-4 years or use a stable as a safe haven, which one would you store it in? Wary about stables, especially after what happened to USTC

nblastoff

Oh no... What about the 1.07 worth of USTC i still have on binance!

coinfeeds-bot

tldr; The relevant text of the article is about the rejection of a funding proposal by the Terra Classic community and the offer of funding by Nova Validator to the USTC Quant Team. The proposal suggested a payout of 285 million $LUNC to the team for their coding work. However, only 23% of the community members voted yes, while 50% abstained and 25% voted no. The rejection divided the community, but Nova Validator stepped in and offered to fund the USTC Quant Team directly. This move was seen as a response to the breach of contract by validators who refused to pay for work that had already been done. The article also mentions allegations that Happy Catty Crypto has been hindering progress and blocking developers on social media. Overall, the Terra Classic community is aiming to revitalize the network. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

coinfeeds-bot

tldr; Failed crypto custodian Prime Trust revealed new details about its past financial shortfalls in a filing submitted to bankruptcy courts on Aug. 24. That filing indicates that Prime Trust’s investment in the TerraUSD (USTC) stablecoin resulted in millions of dollars of losses for the company. Specifically, the company’s investment in the now-failed stablecoin led to […] The post Prime Trust lost $8M after Terra collapsed; bought $76M ETH in unrelated wallet loss appeared first on CryptoSlate. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

coinfeeds-bot

tldr; The parent company of crypto custodian Prime Trust, Prime Core Technologies, has reported losing approximately $8 million in client and treasury funds through investments in TerraUSD (USTC). The company filed for bankruptcy in August, citing the collapse of TerraUSD and increased spending as contributing factors. The collapse of TerraUSD in 2022 was a significant event that led to a major crypto market crash, resulting in the bankruptcy of several firms. Terraform Labs founder Do Kwon is currently serving a prison sentence for using falsified travel documents. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

JustBe-Chillin

So misinformation here and it shows. Terra2.0 is dokwon's sinking ship. Lunc is a purely a community owned chain now. No single person at the helm running everything. UST and LUNC have absolutely nothing to do with Terra2.0 either learn about it or don't comment ? The UST burn directly burns nearly 1B of the 9B debt. Therefore in simplest terms, reducing the overall debt by 1/9th There's also a current testnet platform for people to design and implement a new Algorithm... Yes it's still very early days. But there's a reason- Kraken, Binance still allow it trade and USTC needs %4900 to recover back to 1$, whoever has been in crypto before will understand this has never happened and is still as experimental as luna was originally. If people think it won't happen that's up to them but if you're classing ustc as another "Token" then %5000 is definitely possible. In fact extremely possible but in a bear market what do people expect. We aren't in a bull run and purely the pumps seen by all other tokens have been cashgrabs and to use retail as exit liquidity. If people don't actually research any of the stuff going on behind the scenes they're never gunna understand what a COMMUNITY OWNED BLOCKCHAIN/STABLECOIN would do for the crypto space and decentralisation as a whole.

Zeric79

I know USTC are the old Terra dollars that depegged and put LUNA (now LUNC) into its death spiral. But that connection has been severed, so if the plan is to burn LUNC then they would need to swap USTC for LUNC and then burn it. Burning USTC directly seems like a effort to climb back to the $1 value.

Asleep_Fact_2549

That's true. Unfortunately, most people only read the headlines and make what they want if it. This could be a good development for USTC

Arghaz

Sure, USTC and LUNC will still not be in high regard by the majority but we should still keep facts correct. Knowledge is important and if you don't understand certain things or believe everything that is written you are more likely to become a victim of a scam in the future. I just want to keep facts correct the way that I can, both in this post and information about a cryptocurrency as well as any other. Don't you agree?

Asleep_Fact_2549

Will it make much difference in how people see USTC? As far as people are concerned, those two are connected. It will take a lot to gain that trust back

Zeric79

I've not been following that story for quite some time. Is the new plan to burn USTC in an attempt to repeg it to the dollar and connect it to LUNC again?

aSchizophrenicCat

Repeg is never going to happen, therefore LUNC and USTC do not have a chance. Investor confidence is near zero. No whales nor shrimps will touch this shit with a 10 foot pole. It’s done. Do yourself a favor and stop holding out hope here.

GME-NeverSell

It would be 0.01% if indeed it was LUNC that was being burned, but it's USTC, so it's about 8%

GME-NeverSell

You didn't read. They are burning 800 million USTC, not 800 million LUNC. That's about 8% of the total supply. It's not major and won't make a big proce impact, but you still had your facts wrong.

swanky_bubbles

It's 8% of the supply of USTC

Arghaz

It is USTC that are going to be burned, not LUNC.

swanky_bubbles

9.7 billion* it's USTC not LUNC

Arghaz

800M is 8-10% of USTC supply that is like 9.7 billion. USTC is about to be burned, not LUNC.

Traditional_Song_293

USTC Is the play, get some on spot till the price is good.

Arghaz

There seem to be some misunderstanding in the comments, the burn is of USTC according to the post, not LUNC. USTC have a supply of around 9.7 billion, so burning 800M is burning like 8-10%, so a significant chunk of USTC. I'm not saying that this makes it a buy in any way, just want facts to be correct.

Arghaz

Well Yeah, USTC have a supply of 9.7 billion so 800M is about 8-10%...

Arghaz

It says the burn is of USTC and not LUNC. USTC don't have a supply of trillions I think? Not saying that changes the statement that you should stay away, but important to get facts straight.

Arghaz

The burn was of USTC not LUNC, or is the USTC supply the same as LUNC?

MindTheMindForMind

I don’t think that will never be someone that will invest again in LUNC-USTC, but i guess that there are a large portion of old holders hoping for a recovery that likely will never happen…

ChucklesFreely

LUNC and USTC have a chance if the repeg happens. this will increase volume and accelerate the burn rate. Once the burn brings the supply back to a reasonable level, the value will increase. Burning 800 million USTC is also going to help, as there are under 10 billion of them.

thunderchicken_

Even with 800 million USTC burned, there's no guarantee that the peg would stay protected. The new devs had over a year and some months to get a re-peg figured out and look where they are now...

pbjclimbing

Why don’t they try to make some UST holders whole instead of burning USTC. People love dark horses in crypto, but this one you should stay the fuck away from.

TOXICCARBY

What is USTC

JugobetrugoN1

*USTC joined the chat*

Winter-Newspaper-281

LUNC and USTC are straight-up worthless today. That definitely should be at the very top of the list. I'll never forget watching LUNA crash. It was brutal and simply kept going and going. There are people who lost their shirts because they bought it at $2! How does something lose 98% of its value and still wind up bankrupting dip buyers!?

lukekibs

Oh mother of God almost $15 million in volume on USTC today. Looks like the degens are back

FattestLion

I saw the news of UST depegging on r/cc, so I rushed to unstake my UST from a CEX, which had 2 days cooling off for early unstake. Managed to sell at $0.85 to take only 15% loss vs 99% or whatever that USTC went to. This is not a story about profits but loss minimisation thanks to r/cc

coinfeeds-bot

tldr; The legal team representing Terraform Labs and Do Kwon, the founder of the collapsed Terra blockchain, has referenced the recent victory of Ripple and XRP against the SEC to support their bid for the dismissal of the SEC's lawsuit over Terra Classic (LUNC) and USTC collapse. They argue that the SEC's claims against tokens like USTC and LUNC lack merit and do not meet the criteria to be classified as investment contracts. The legal team also highlights the difference between institutional sales in the two cases. This reference to the XRP victory is not the first strategic move by the defendant's legal team. The significance of the Ripple case ruling strengthens the argument that the SEC's case lacks a strong foundation and points out inconsistencies in the regulatory approach to different cryptocurrencies. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*