The real reason for $USTC’s rise comes from the former Anchor team’s plan to restart a stablecoin project, Mint Cash, which will be cold-started through $USTC. The current public information is:

1. The collateral for this stablecoin project is $BTC

2. USTC holders will be able to deposit into a contract in the future and will receive tokens for new projects.

3. The goal of this project is not to return USTC to US$1, but it will greatly increase the current value of USTC.