{"id":608058,"date":"2023-02-14T23:49:18","date_gmt":"2023-02-15T05:49:18","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/14\/terras-classic-stablecoin-surges-on-busd-failure-but-is-still-only-worth-0-03\/"},"modified":"2023-02-14T23:49:18","modified_gmt":"2023-02-15T05:49:18","slug":"terras-classic-stablecoin-surges-on-busd-failure-but-is-still-only-worth-0-03","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/14\/terras-classic-stablecoin-surges-on-busd-failure-but-is-still-only-worth-0-03\/","title":{"rendered":"Terra\u2019s classic stablecoin surges on BUSD failure, but is still only worth $0.03"},"content":{"rendered":"<div id=\"main\">\n<p><img decoding=\"async\" alt=\"Terra\u2019s classic stablecoin surges on BUSD failure, but is still only worth $0.03\" src=\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/imgresize\/timthumb.php?src=https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/terra-ustc.jpg&#038;w=70&#038;h=37&#038;q=75\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/imgresize\/timthumb.php?src=https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/terra-ustc.jpg&#038;w=105&#038;h=55&#038;q=75 1.5x, https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/imgresize\/timthumb.php?src=https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/terra-ustc.jpg&#038;w=140&#038;h=74&#038;q=75 2x\"> <span>Terra\u2019s classic stablecoin surges on BUSD failure, but is still only worth $0.03<\/span> <span> <span> <span>Mike Dalton \u00b7<\/span> <span>19 hours ago<\/span> <span>\u00b7 <span> 1 min read<\/span> <\/span> <\/span> <\/span> <span><\/span><\/p>\n<div>\n<div>\n<p>The algorithmic USD stablecoin saw gains of 19% today.<\/p>\n<div>\n<div>\n<p><a href=\"https:\/\/cryptoslate.com\/author\/mike-dalton\/\" title=\"Mike Dalton Profile\"> <img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/mike-dalton-author-150x150.jpg\" height=\"80\" width=\"80\"> <\/a><\/p>\n<\/div>\n<div>\n<p><span> 1 min read<\/span><\/p>\n<p><span>Updated:<\/span> February 14, 2023 <span>at 2:59 am<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<p><img decoding=\"async\" alt=\"Terra\u2019s classic stablecoin surges on BUSD failure, but is still only worth $0.03\" src=\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/imgresize\/timthumb.php?src=https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/terra-ustc.jpg&#038;w=600&#038;h=315&#038;q=75\" ><\/p>\n<p>Cover art\/illustration via CryptoSlate<\/p>\n<\/div>\n<\/div>\n<div data-title=\"Terra\u2019s classic stablecoin surges on BUSD failure, but is still only worth $0.03\" data-url=\"https:\/\/cryptoslate.com\/terras-classic-stablecoin-surges-on-busd-failure-but-is-still-only-worth-0-03\/\" data-id=\"298609\">\n<section>\n<header>\n<h2>Ad<\/h2>\n<\/header>\n<p> <a href=\"https:\/\/link.cryptoslate.com\/22e157\" rel=\"sponsored noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"500\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/bitget-get-mac-campaign-600500.png\" alt=\"Bitget\"><\/a><\/section>\n<p>The depegged stablecoin Terra Classic USD (USTC) regained a small amount of value today alongside news that issuance of Binance USD (BUSD) will be halted.<\/p>\n<p>The price of USTC rose 19.14% to 3.1 cents over 24 hours on Feb. 13. For the past several months (until Feb. 3) it has been worth 2.7 cents or less.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/ustc.png\" alt width=\"826\" height=\"396\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/ustc.png 826w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/ustc-300x144.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/ustc-768x368.png 768w\" data-sizes=\"(max-width: 826px) 100vw, 826px\" ><\/p>\n<p>USTC\u2019s earlier gains may be due to a <a href=\"https:\/\/cryptoslate.com\/terra-ustc-surges-66-following-approval-to-re-peg-to-1\/\">planned protocol upgrade<\/a> set for Feb. 14 or due to hype around Cardano\u2019s <a href=\"https:\/\/cryptoslate.com\/cardano-stablecoin-djed-tvl-hits-10m-in-24-hours-ada-up-4\/\">competing algorithmic stablecoin<\/a>.<\/p>\n<p>However, today\u2019s gains seem to be partially due to Binance USD\u2019s failure, which has caused a loss of confidence in centrally backed stablecoins among some investors. As such, confident investors may be motivated to invest in decentralized stablecoins \u2014 specifically those that have lost their peg and therefore have a chance of partial recovery.<\/p>\n<p>That trend is supported by gains seen in other decentralized <a href=\"https:\/\/cryptoslate.com\/cryptos\/stablecoin\/\">stablecoins<\/a>, which can be algorithmic or overcollateralized by crypto. Neutrino USD is up <span>13.11%<\/span> to $0.20, USDX [Kava] is up 0.78% to $0.84, and VAI is up 1.96% to $0.97.<\/p>\n<p>Though USTC\u2019s gains today are the highest in that category, its minor growth is insufficient to allow it to reclaim its former $1.00 price peg \u2014 a level it has not seen since the Terra project collapsed in May 2022. Furthermore, USTC is no longer associated with the revived Terra project, which does not use a stablecoin as a core feature.<\/p>\n<p>Still, today\u2019s gains may provide enough room for holders to earn on their investments.<\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/cryptoslate.com\/terras-classic-stablecoin-surges-on-busd-failure-but-is-still-only-worth-0-03\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Mike Dalton<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Terra\u2019s classic stablecoin surges on BUSD failure, but is still only worth $0.03 Mike Dalton \u00b7 19 hours ago \u00b7 1 min read The algorithmic USD stablecoin saw gains of 19% today. 1 min readUpdated: February 14, 2023 at 2:59 am Cover art\/illustration via CryptoSlateAd The depegged stablecoin Terra Classic USD (USTC) regained a small<\/p>\n","protected":false},"author":1,"featured_media":608059,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2071,106762],"tags":[],"class_list":{"0":"post-608058","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-classic","8":"category-terras"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/608058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=608058"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/608058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/608059"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=608058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=608058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=608058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}