USTC Surges 300% on Binance Listing and Bitcoin Revival Plan After Terra Collapse
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USTC gained 300% in a week fueled by a new Binance perpetuals contract listing and a bitcoin-backed revamp plan by Mint Cash.
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USTC and LUNC are remnants of the collapsed Terra blockchain and ecosystem from last May.
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Binance started offering USTC perpetual contracts with up to 50x leverage, unleashing speculative trading.
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Mint Cash proposed using bitcoin to collateralize a new Terra stablecoin and airdropping tokens to USTC and LUNC holders.
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The SEC charged Terraform Labs and Do Kwon with fraud over the failed algorithmic stablecoin USTC which lost its $1 peg.