USTC Coin Surges 9%: Is Terra Classic’s Proposal for $1 Repeg the Driving Force? (USTC)

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The price of USTC, Terra Luna Classic’s stablecoin, has surged by 9% following a community vote on a proposal to repeg the token to $1.
The proposal aims to restore and maintain the stability of the USTC peg through a community-driven mechanism.
The price of LUNC, the native token of Terra Luna Classic, also climbed by 1%.

USTC price jumps 9% after Terra Luna Classic community votes on a proposal for USTC repeg to $1. LUNC price also climbs 1%.

USTC Price Surge

TerraClassicUSD (USTC) price has jumped 9% over the last 24 hours, backed by a strong trading volume increase of over 800%. USTC is currently ranked 67 in terms of trading volume, surprising the crypto community due to the sudden boost. Are plans for USTC revival to $1 in effect?

Terra Luna Classic Proposal For USTC Repeg

Proposal 12102 “The Ultimate Repeg Plan – A Community-Driven Repegging Proposal” is under voting stage on Terra Classic Station wallet. The proposal’s aim is to establish a resilient and community-driven mechanism focused on incrementally restoring and preserving the stability of the USTC peg.

Community Response to the Proposal

The proposal hasn’t received much voting from the community, with 18% “Yes” votes. It saw a high number of “No” votes at... Read the full article for FREE at COINOTAG!