The price of the Terra ecosystem’s algorithmic stablecoin that collapsed in May of this year, TerraClassicUSD ($USTC), has surged by over 90% over the past few days after a blockchain engineer submitted a proposal for it to be re-pegged to the U.S. dollar.
The original Terra ecosystem collapsed earlier this year and later rebranded to Terra Classic, while a new, forked blockchain took the Terra brand with it. When Terra’s ecosystem collapsed, its circulating supply jumped from 340 million tokens to 6.9 tri
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