The recent surge in Terra Classic USTC's price can be attributed to increased network activity, positive technical signals, community efforts to restore values, and the pivotal decision to stop USTC minting. User transactions hit new highs, indicating renewed interest and confidence in the project.
Additionally, the staking ratio trended upwards, showcasing enhanced user engagement. Technical analysis revealed a bullish divergence with the breaking of the 200-day moving average.
Crucially, the Terra Luna Classic community's proposal to halt USTC minting by raising the Tobin tax to 100% significantly contributed to the price rally, aiming to stabilize and revitalize the USTC and the entire Terra Luna Classic chain.
