What is the USTC coin? Is the USTC coin now pegged to the US dollar?
USTC coin is now decoupled from the US dollar. Reasons for the decoupling include massive sell-offs, failure of the algorithmic stabilization mechanism and the collapse of the LUNA currency. Despite the decoupling, the USTC coin may still have a certain value, but there is also the risk of price fluctuations and losses. Its development team has been disbanded and its future development is uncertain.
USTC Coin: A stablecoin decoupled from the US dollar
What is the USTC Coin?
USTC coin is a stablecoin pegged to the US dollar, created by Terraform Labs. It was launched in May 2022 with LUNA Coin and aims to provide price-stable infrastructure for the DeFi ecosystem.
Is the USTC coin now pegged to the US dollar?
No, the USTC coin is no longer pegged to the US dollar. On May 11, 2022, the peg mechanism between the USTC currency and the US dollar failed, causing its price to plummet.
The reason why the USTC currency is decoupled from the US dollar
The reason why the USTC currency is decoupled from the US dollar is due to a series of factors, including:
- Massive sell-off: A large number of USTC coin holders sold simultaneously, exacerbating the price drop.
- Algorithmic stability mechanism failed: USTC coin’s algorithmic stability mechanism failed to effectively maintain the currency price pegged to the US dollar.
- LUNA Coin Collapse: The value of the LUNA Coin linked to the USTC Coin has fallen sharply, further damaging the stability of the USTC Coin.
Potential value and risk of USTC coin
The potential value and risk of USTC coin are as follows:
- Potential Value: Despite decoupling, USTC may still have some value as it remains a popular stablecoin used in many decentralized finance protocols.
- Risk: USTC currency is no longer pegged to the US dollar, with the risk of price fluctuations and losses. In addition, its development team has been disbanded and its future development is uncertain.
The above is the detailed content of What is the USTC coin? Is the USTC coin now pegged to the US dollar?. For more information, please follow other related articles on the PHP Chinese website!
Blackrock Pushes Bitcoin Into Spotlight: Could Be Too Risky Not to Own Any in Today's MarketMay 05, 2025 am 11:46 AMRobbie Mitchnick, head of digital assets at Blackrock, the world's largest asset manager, emphasized during the Token2049 crypto conference that institutional views on bitcoin could dramatically shift
Early Shiba Inu Investors Hit Jackpot—Now Eyes Are on Arctic Pablo CoinMay 05, 2025 am 11:44 AMWe've all heard the story by now—the incredible rise of Shiba Inu. The meme coin that started as a fun, light-hearted alternative to Dogecoin became one of the most talked-about and profitable cryptocurrencies of its time.
Solana (SOL) Price Rebound Holds Above $150 as CME Prepares to Launch XRP FuturesMay 05, 2025 am 11:42 AMThe Solana price rebound is holding above $150 after recent losses, offering signs of recovery.
Ruvi (RUV) Blazes a Trail Through May 2025, Trading at an Impressive $96,856 and Carrying Strong Forecasts of Reaching Anywhere from $250,000 to $700,000 by the End of the YearMay 05, 2025 am 11:40 AMRuvi's presale isn't just about speculating; it's about making early gains your reality. Here are examples of its incredible earning potential based on various investment levels:
![Dogecoin [DOGE] saw a 33.5% decrease in trading volume in the past 24 hours](https://img.php.cn/upload/article/001/246/273/174641630633814.jpg?x-oss-process=image/resize,p_40)
Dogecoin [DOGE] saw a 33.5% decrease in trading volume in the past 24 hoursMay 05, 2025 am 11:38 AMDOGE saw a 33.5% decrease in trading volume in the past 24 hours, at the time of writing. This could be a weekend effect, when trading volume tends to fall
Binance Coin (BNB) is Buzzing as it Hovers Around the $600 Mark. Analysts Predict a Potential Bullish Climb.May 05, 2025 am 11:36 AMThis innovative blockchain solution is grabbing attention, offering not just token utility with cutting-edge artificial intelligence but a jaw-dropping VIP presale program
Dogecoin (DOGE) Price Surged 2.3% to Breach the $0.17 ResistanceMay 05, 2025 am 11:34 AMDogecoin (DOGE) surged 2.3% over the last 24 hours to breach the $0.17 resistance amid renewed optimism around Bitcoin ETF-driven inflows.
Qubetics (TICS) Is Rewriting Web3 Development — And Its Presale Is About to ExplodeMay 05, 2025 am 11:32 AMTrying to time the crypto market can feel like chasing shadows—but when the signals line up and the volume starts flowing, it's the weekend picks that often pack the most explosive moves.
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!
Hot Article
Hot Tools
Atom editor mac version download
The most popular open source editor
Safe Exam Browser
Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.
EditPlus Chinese cracked version
Small size, syntax highlighting, does not support code prompt function
mPDF
mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),
PhpStorm Mac version
The latest (2018.2.1) professional PHP integrated development tool
