Terraform Labs, the company behind Terra, has officially declared its non-participation in the Mint Cash UST 2.0 stablecoin project. Mint Cash's objective is not to restore USTC to $1 but to initiate new projects, with user valuations impacting USTC's current price outlook. Binance has unveiled a USTC perpetual contract with up to 50x leverage. Mint Cash UST 2.0, inspired by TerraUSD's collapse, is launching a fully decentralized stablecoin. Terra, previously a blockchain giant, faced setbacks leading to the emergence of Terra 2.0 and Terra Classic. In response to Mint Cash's airdrop, USTC clarified its position as a separate BTC-collateralized stablecoin built on Terra Classic codebase. Despite expectations, Mint Cash prioritizes new projects, influencing USTC's valuation. Binance's surprising move adds a USTC perpetual contract with 50x leverage. Disclaimer: The information provided is general market commentary and not investment advice; independent research is recommended before making investment decisions.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing."
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