USTC stablecoin increased by 400% in 3 days.
Manipulation or opportunity?
The algorithmic stablecoin Terra USD (formerly UST, now USTC), which collapsed in the spring of 2022, has risen in price by 400% over the past three days amid news of the approval of the extradition of its founder Do Kwon from Montenegro. As of November 27, 10:30 Moscow time, the UST token is trading around $0.06, according to the Coinmarketcap service.
🔥 On the morning of November 27, the largest cryptocurrency exchange Binance announced the launch of perpetual futures for the USTC token. Trading will begin at 15:30 Moscow time.
In addition to the USTC stablecoin, significant growth was shown by the Terra token (formerly LUNA, now LUNC), which grew by 60% over the same period.