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Terra Classic ($LUNC), the token left behind by the collapsed Terra stablecoin project, exploded 85% this week after Binance listed perpetual contracts for the network’s $USTC stablecoin. Terra Classic is up a further 17% in the last 24 hours alone.
Terra Classic’s algorithmic USD stablecoin, $USTC, has also benefited from Binance’s announcement. $USTC is up 297% in the past 7 days. However, its price remains at just $0.053, far below its intended $1 peg.
Binance’s new $USTC perpetual contract enables traders to speculate on the future of this token with up to 50x leverage. It’s anticipated to significantly increase trading activity around Terra Classic since Binance is the world’s largest crypto exchange by a wide margin.
Trading volume in $USTC peaked around the announcement at more than $760 million according to CoinMarketCap. Prior to the announcement, Terra Classic typically experienced trading volume of less than $25 million per day.
Mint Cash Suggests Future for Terra Classic, Coming Airdrops
Another factor likely contributed to the sudden resurgence of Terra Classic. Mint Cash, a payments project focused on Bitcoin, announced a new stablecoin that would be built around $USTC.
Whereas $USTC’s peg has always been linked to $LUNC, the outline by Mint Cash suggests that Bitcoin could be used as collateral to help the stablecoin hold its peg. Mint Cash users would be incentivized to hold the token as part of a rewards system.
It remains unclear how exactly $LUNC will benefit from this arrangement or when it could be rolled out. However, the Mint Cash team also announced that it’s working on an airdrop for $LUNC and $USTC token holders.
TG.Casino Raises $3.2 Million, Offers 182% Staking APY and Lucrative Buyback and Burn Program
While the news around Terra Classic is exciting, trading in this token remains highly speculative. $USTC is still 95% off of its $1 peg and it’s far from guaranteed that Mint Cash’s plan for $USTC will succeed.
Traders looking for the next explosive token may want to check out $TGC, the native token of newly launched Telegram casino TG.Casino. TG.Casino is currently in presale and has already raised more than $3.2 million out of a $5 million hard cap.
TG.Casino is revolutionizing the online gambling industry by bringing casino gaming and sports betting to Telegram, the global messaging app with more than 700 million users. Anyone around the world can join with no Know Your Customer (KYC) checks, making it possible to bet and win completely anonymously.
TG.Casino has partnered with top gaming software providers to offer hundreds of games, including 24/7 live dealer tables for blackjack, roulette, and more. The platform also has a sportsbook with betting on more than 30 popular markets.
TG.Casino plans to reward investors in its $TGC token by using gambling revenue to buy back tokens on the open market. 60% of the repurchased tokens will be distributed to $TGC investors as a staking reward. The remaining 40% will be burned, reducing the total token supply and pushing up the price of $TGC.
Even better, $TGC investors don’t have to wait for the presale to end to start earning. The project is offering a 182.21% APY rewards rate in $TGC for investors who buy tokens during the presale and stake them right away.
Traders can buy $TGC now at a price of $0.17. But traders who want to lock in this discounted price need to hurry since the next price increase is just hours away.
