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USTC, due to its increase, brought a new movement to the crypto world. In the last 24 hours, the value of the algorithmic stablecoin USTC increased by 137.20%, which raises the token’s price to $0.03568. The token’s growth was stagnant for most of the past week, but it has now recovered its losses and managed to increase its earnings to 170% in the last seven days.
This rise was triggered by an update shared by Trader QT, known as X user and the Official Partner of Luna Classic Labs. According to this update, Terra Classic Labs, under the Treasury Reserve Policy, have bought a total of 25.6 million USTC. This transaction was made at an average of $0.021, totaling the cost to $500,000.
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After losing its target of 1 dollar stable in May 2022, USTC decided to use a different recovery model to revive its value. Terra Classic Labs by making this purchase, could have provided significant support for the stablecoin.
Terra Classic Labs, in addition to helping rebalance the Terra Classic brand, sees USTC as a stabilized liquidity source and plans to largely benefit from its return. USTC, after losing its stable status, has now become a mechanism where users can increase their assets as an investment asset.
When the average purchase price of the investment made by Terra Classic Labs’, $0.021, is exceeded, it can be seen that this rate has increased by 76.6%. So, Terra Classic Labs can see how quickly it gets the return on its investment.
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