TerraClassicUSD (USTC) Skyrockets 137% in 24 Hours Following Major Acquisition and Binance’s Strategic Move

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TerraClassicUSD (USTC) has experienced a significant surge in value, increasing by 137.20% within a 24-hour period. Currently trading at $0.06479, USTC has seen a remarkable reversal after weeks of stagnation. This surge can be attributed to Terra Classic Labs’ recent acquisition of 25.6 million USTC tokens, worth approximately $500,000, at an average price of $0.021 per token. This move has not only strengthened the stability and liquidity of USTC but also presents an attractive opportunity for investors. The acquisition has already resulted in a 76.6% increase in investment value for Terra Classic Labs. The fate of USTC is closely tied to its sister token, Terra Classic (LUNC), which has also experienced a notable increase of 49%, reaching $0.0001188. These developments highlight the efforts of the USTC and LUNC communities to enhance the value of both assets through various measures, including upgrades and burning. Additionally, the Terra Luna Classic community has passed a significant proposal aimed at addressing critical issues and further revitalizing LUNC and USTC.The recent price surges extend beyond USTC and LUNC, with Terra’s native token, LUNA, also experiencing a 15% increase in value over the past 24 hours. This surge follows a 400% rise in trading volume, indicating growing interest among traders.In a strategic move, Binance, the world’s largest cryptocurrency exchange, has announced plans to launch a USTC perpetual contract with up to 50x leverage. This announcement coincides with the surge in USTC and LUNC prices. The USTC perpetual contract on Binance will be available for trading starting November 27, with funding fee settlements every four hours using USDT as the settlement asset. Binance will also offer users the ability to trade the USTC perpetual contract across multiple margin assets under the Multi-Asset Mode. Qualified USD-margined futures liquidity providers can benefit from 0.005% maker fee rebates for trades on the USTCUSDT Perpetual Contract for a limited time.It is important for readers to conduct their own research before making any decisions related to cryptocurrencies.

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