What do you think about USTC that was Terra Luna stable coin which fell from 1.00$ to 0.01$ cent
I bought some of them atm its 0.06$ as it had a jump does it have a chance to reach 1$ again and be a stable coin
What are your thoughts on this ?
it's hard for me to make ustc return to 1$ you could say it takes a miracle for that to happen but nothing is impossible in cryptocurrencies but it takes a long time for that to happen and make people believe again ustc is a stable coin for everyone's transactions
It was a stablecoin, but it has now become a meme coin thanks to Terra Labs and Do Kwon. I don't know how the hell they thought that they were going to create an algorithmic stablecoin and it's going to work, without it having any backing of actual assets and it will be directly connected with LUNA which was the main coin of the project which was also ruined because of USTC and it's failure. The failure of the algorithmic stablecoin caused the project to fail miserably.
To be honest, I don't see any hope for USTC, LUNA, or LUNC to gain substantial value in the future. I believe they will always just be small altcoins with volatile prices that people might trade for small amounts of profit but there will barely be investors who would think of buying and holding any of them.