Boom for USTC, LUNC as Binance Broadens Spot Trading Options

LUNC, USTC gain tremendous bullish momentum following Binance’s addition of new Spot trading pairs.

Woman dancing in between USTC coins.
Created by Kornelija Poderskytė from DailyCoin
  • Top crypto platform Binance lists two USTC trading pairs on Spot.
  • Terra Luna Classic tokens soar following Binance’s announcement.
  • Chain revitalization efforts sparked a momentous weekly run for USTC.

The globally leading crypto exchange Binance answered popular demand by adding several frequently traded cryptocurrencies on Binance Spot. In an official announcement this Wednesday, Binance declared the immediate inclusion of five new trading pairs, while two involve Terra Classic chain’s malfunctioning stablecoin Terra Classic USD (USTC).

Starting tomorrow, USTC/FDUSD and USTC/TRY will be added on Spot. FDUSD is a popular stablecoin issued by First Digital. According to Binance’s announcement, crypto traders can enjoy a 0% maker fee on trading pairs involving the FDUSD stablecoin.

Revival Escalates with LUNC and USTC on a Meteoric Rise

Emerging as the day’s top gainer, Terra Classic USD rode the bullish news with an instantaneous 52.5% run to briefly position near the six-cent mark. Approaching the cryptocurrency global market cap TOP 100 for the first time since the 2022 crash, USTC’s performance throughout November has been monumental, inking 369% profit in the last 30 days. At press time, Terra’s stablecoin $USTC trades at $0.052, as per CoinGecko.

Terra Classic chain’s main cryptocurrency, Terra Luna Classic (LUNC), also got its mitts on the recent bull run, obtaining 25.5% profit in the last 24 hours. LUNC stormed back into the TOP 100 by global market capitalization after the Terra Classic community passed governance proposal #11885. Dealing with a sequence mismatch issue on the chain, Terra’s community unanimously voted to restore the dynamic validator commission.

At press time, LUNC trades at $0.00012033, according to CoinGecko. Enjoying a parabolic 81.1% monthly increase, LUNC is now on a journey to a full-on revitalization, as several key features of Terra’s pre-crash glory were gradually restored since last month. These include the market swap function between $LUNC and $USTC and Terraport dApp relaunch, while a decentralized LUNC wallet is also currently being developed.

On the Flipside

  • Understandably, stablecoins are not supposed to fluctuate in market value as much as regular cryptocurrency tokens.
  • Terra Luna Classic is still -100% down from its all-time high (ATH) set at $119.18 on April 5, 2022, before USTC’s depegging.

Why This Matters

Mutual holder efforts to revitalize Terra Classic’s blockchain can set a historical precedent for crypto if the community manages to repeg the stablecoin to $1.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.