Almost six months have passed since the other major failure that marked the cryptocurrency world, namely in Terra Luna, but the community supporting the project has shown that it is resilient to adversity.
This resulted in a loss of value TerraClassicUSD Touching $0.02 after the events of May did not prevent those who invested in the digital currency.
UST is currently worth $0.02, but according to the community that still supports it, it could come back with an interesting coup to establish itself again at $1.
After six months of a USTC “slip” that hurt the market so much, early investors are hoping to see the algorithmic stablecoin still at $1.
The currency freed itself from its bonds with the dollar on May 9, but the fact remains that a recovery is possible.
Terra Luna: The Community Hopes to Recover the Cryptocurrency Project
The premise has been the subject of long discussion on social media especially on Twitter which is the reference social network for the planet’s community.
Terra Money UST (after USTC shame) In the end, it is common that, with the support of those who have always invested in it and may have lost money, it can aspire to the price range of the US dollar.
“Let’s Reconnect the USTC” is the most popular slogan, the kind of “Make America Great Again” so dear to Americans that refers to the USTC Reconnect.
Will Chen, who has worked as a developer on both Terra One and Terra Money, believes recovery, however absurd, is a potential goal.
“Reconnecting the USTC is the first time a community has attempted something like this on such a scale. Like LUNC, once the combined effort to replicate the USTC achieves odds-defying progress/momentum that surprises all non-believers, everyone will want to join.”
Developer and researcher Chen’s tweet was taken down on Twitter, reaching 1,154 likes and 400 shares.
An unconvinced person objected that it was not so simple, explaining:
“Ask for $9.5 billion that no one has, or burn more than 90% of the USTC (= defaulted). Which would be fine…but it would take a lot more than slogans.”
However, a supporter of blockchain reconnection responded:
“No, it doesn’t take $9.5 billion. The market valued the debt at less than $200 million. Luna Foundation Guard Assets are still servicing the debt, by buying back on the USTC. A little bit of inflation on the LUNC and the tax rate could go toward canceling the debt. Could Binance CEO CZ to burn debt with spot trading fees.”
This answer indicates that anything is still possible even though the USTC has deteriorated a lot since October.
November saw the Earth’s ecosystem leave more than 90% of its value on Earth.
your color Very little a share today, stopping at $0.00015820, but the community and investors are also hopeful that Luna will return to its former glory.
UST Terra should rise to replicate its success and recover one US dollar share with practically (without outside help from the crypto world) 4,900% of its current value, a performance worthy of Bitcoin.
Today, the USTC token has 9,805,804,874 units and records $15.33 million per day, a bit to regain the rally but still proof that the resilience of investors in the cryptocurrency world is great and nothing is impossible.