USTC price wavy as Lunc Community votes to make it a coin

Terrausd token remained in a narrow range because the members of the Terra Luna community voted to replicate it and change their name.

Terrausd (Ustc) The price is traded on Tuesday from 0.01266 dollars by 45% from its highest levels this year. This withdrawal has led its market cap to $ 70 million.

Classic Terra Luna (Beast) Community vote on the proposal that seeks to review the USTC from Stablecoin in the universal standard token or meme coin.

This suggestion It reflects the reality that the USTC no longer works as stablecoin, and the chances of returning to PEG of $ 1 are thin. With $ 0.01260, it will have to increase by over 7,300% to achieve parity with the US dollar.

The aim of this voice is to preserve the development and bypassed regulatory constraints.

Binance, the greatest supporter of Lunco, but announced plans for the delicacy of the USTC later this month, and other exchanges can follow. The argument is that the exchanges could continue to include the USTC if no longer classified as Stablecoin.

The reclassification of the USTC would also release it from the regulations relating to Stablecoin, simplifying compliance.

The proposal also strives to change the name of the USTC from Terrausd into a universal standard token classic, while retaining symbol of Tikara USTC.

Terrausd appeared from Collapse Terra in 2022 yearswhich led to a loss of $ 40 billion. The original terraust or UST was an algorithmic stablcoin, which aimed to preserve PEG $ 1. This made me rely on the balance of supply and demand that managed arbitration. She also had a relationship with Ment and burning with Luna.

Technical price analysis Price

The price of the USTC collapsed and the bottom to $ 0.0085 at the beginning of this year. Then they rose a little to current 0.0125 dollars, just below the key resistance to 0.01387 dollars. This level was significant, because in April, July and August marked the lowest swing.

The price of the price formed a small double bottom sample to 0.010 USD whose neckline is at 0.02193, the highest level this month. The double bottom is one of the most reverse reversal signs in the market.

Therefore, the USTC could refuse and re-set key resistance to 0.03140 dollars, the highest level in 2024. years, which is about 145% above the current price. However, the fall below support to 0.0085 USD would not undo the Bullish look.