TerraClassicUSD Price Predictions: Can USTC Regain Its $1 Peg?

  • TerraClassicUSD (USTC-USD) surged approximately 250% higher at one point today.
  • This comes following an announcement from hacktivist group Anonymous that they’re targeting founder Do Kwon.
  • This move has inspired investors to dive into what could be a squeeze token.
TerraClassicUSD price predictions - TerraClassicUSD Price Predictions: Can USTC Regain Its $1 Peg?

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Today’s rather muted market action has been overshadowed by some impressive price performance among specific cryptocurrencies. On watch today is TerraClassicUSD (USTC-USD), which soared 250% over the past 24 hours at one point today. This move has inspired interest around TerraClassicUSD price predictions, as investors look for momentum in the crypto space to latch on to.

This positive momentum with former stablecoin USTC comes as hacktivist group Anonymous targets Terra’s founder, Do Kwon. As fellow InvestorPlace contributor Brenden Rearick points out in a recent piece, the move is something investors are cheering.

Indeed, many investors in both USTC and Terra (LUNA-USD) lost nearly everything in a rapid crash which saw the value of this project plummet from the 11-figure range to 9 figures almost overnight. Many investors lost more than 99% of their money in this investment. Additionally, many experts think this project has no hope of rebounding from here.

Despite a Terra Ecosystem Revival Plan put forward by Kwon, there’s little hope among many that this project can be revived. Trust is gone in anything tied to Terra. And as much as crypto maxis would like to believe, some level of trust is necessary with any investment.

That said, Anonymous’ famously cryptic warnings about coming after Kwon have many looking to the future. Perhaps there is some future for TerraClassicUSD which doesn’t involve Kwon. Time will tell.

With that said, let’s dive into where the experts think this stablecoin could be headed.

TerraClassicUSD Price Predictions

For context, USTC currently trades around 4 cents per token.

  • CryptoPredictions suggests USTC could hit 4.85 cents by August.
  • CoinArbitrageBot places a 1-year forecast of 20.8 cents on USTC.
  • Finally, CoinCodex predicts USTC could be in for some near-term pain, with a July 4 price target of only .61 cents.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2022/06/terraclassicusd-price-predictions-can-ustc-regain-its-1-peg/.

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