Cryptocurrencies are having a moment, and while the technology is still in its early stages and it’s impossible to tell whether this is just another bubble or the beginning of something big, there are some that believe that it is the former. That said, there are still plenty of people who believe in cryptocurrencies and think that they’re here to stay.
Terra classic is an interesting investment vehicle. It provides a good way to hedge against inflation by providing stable returns in both USD and BTC, which is not something many other assets can do. However, its main selling point is being able to cash out at any time at a fixed rate.
What is Terra Classic USD or USTC?
Terra Classic USD or USTC is a digital currency used for online trading. Terra Classic USD or USTC is the digital version of its real-world counterpart, the U.S. dollar. The digital currency is used for online trading and transactions. It can be exchanged for fiat currencies like the U.S. dollar (USD).
Terra Classic USD or USTC is an open source cryptocurrency that was developed in 2014 by Terra Money, Inc. The company has a mobile wallet available for download on Android devices.
Terra Classic can be easily purchased with bitcoin on the OpenLedger DEX, which is an exchange that supports multiple cryptocurrencies like Litecoin, Bitshares, and Dash. The coin can also be purchased at various cryptocurrency exchange like Kucoin, Poloniex, Kraken, and Bittrex.
Blockchain Fork: The Collapse of Terra USD
Terra USD (TRS) was a stablecoin—a cryptocurrency that is pegged to a stable asset like gold or the United States dollar—that has now become defunct after its blockchain encountered technical difficulties that led to a fork. This instability caused investors in TRS to lose money and took away one of their best options for storing value in cryptocurrency during periods of high volatility.
The cryptocurrency community has finally been forced to reckon with the fact that blockchains are not impervious to abuse and corruption. In a stunning announcement, the team behind Terra USD recently revealed that they had carried out an “emergency hard fork” on the blockchain in order to “rectify an exploit which resulted in large amounts of coins being frozen”.
The exploit was found by a group of users who were attempting to use a previously unknown bug in the system which would allow them to transfer large amounts of tokens at no cost.
Unbeknownst to them, they stumbled upon a bug that had been secretly placed into the code years ago by the team, which allowed them to prevent transactions from taking place on the blockchain, leaving all funds locked in place.
In response to this revelation, many users have begun demanding answers and action from Terra USD executives—the CEO has remained silent since her last public statement on October 1st, 2017.
Community members have also expressed their concerns about interactions between the company and other developers, who were brought on board as contractors for the project.The entire team behind Terra USD appears to be composed of only two individuals: Katherine Wu and Erica Zielinski.
Terra USD Price Prediction in 2022
It is not easy to predict the future, but investors are trying to be optimistic and make a prediction based on the data gathered.
USTC price has stayed at 0.0015 for a long time, which is quite stable for another crypto currency. In the past, there were many ups and downs in the price of Terra, but now it stays very stable. It means that investors are confident about the project.
Terra core team continues to make good progress, such as completing the next generation product, having more exchanges listing Terra, marketing and increasing community members, etc., then we will see a huge increase of value for this coin in 2022.
Monte Carlo simulation can be used to predict the price of Terra USD in 2022. The result shows that large changes occur in around May 2018 and February 2019 – October 2019. And there are big fluctuations around November 2017 – January 2018. This period is very unstable and risky because it is after ICO distribution until before BETA launch.
The developers behind Terra USD have already created a small community that is active in trading this digital asset with one another, but it still has much more room to grow. In 2022, I predict that it will have grown enough to become a widely accepted medium of exchange over the internet and will have risen to a market capitalization of more than $1 billion.
Is USTC Worth Investing?
It all depends on your risk appetite. You should know that crypto are risky, volatile and speculative assets, which means that they are very different from stocks and other traditional investments. If you’re not prepared to lose all of your money, don’t invest in them.
However, if you’d do fine with a 30% drop in the value of your investment or even 50% or more drop, you can perhaps be a good candidate for crypto investing. You must also keep in mind that crypto investing is a long-term proposition as most cryptos require months or years to mature enough to pay out dividends.
It’s not something you want to do if you need liquidity anytime soon. So before deciding whether to invest in crypto USTC USDT or any other crypto, it’s important to have an honest conversation with yourself about how much risk you can afford to take and how comfortable you are with potentially losing money on this investment.
