Why USTC gave +170% today?

TerraUSD Classic (USTC) is an algorithmic stablecoin associated with the Terra Classic (LUNC) ecosystem. It has experienced significant growth recently, with a 24-hour increase in value of 20.18%, reaching $0.0180

The stablecoin's trading volume has increased by 409%, indicating widespread adoption

Some possible reasons for USTC's rise include:

1 Organic growth: The recent spike in USTC's value shows organic growth, which refers to the increase in value of USTC occurring naturally, without the influence of external factors or artificial means

2 Terra Classic community's efforts: The community is working to improve its infrastructure, accelerate the burning of LUNC, and promote new initiatives like staking that may renew enthusiasm for and increase the supply of the stablecoin

3 Market dynamics: The growth in USTC could be an indication of a sharp rise in demand and emphasizes the market's rising confidence in this stable-coin

Despite the recent growth, USTC is still trading at a significantly lower price than its pre-de-pegging incident, when it was pegged to the USD at a 1:1

Some in the community believe that USTC is gaining momentum to retest the $1

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