LUNC Community Proposes USTC to be a Meme Coin, Here are the Details!

Jakarta, Pintu News – On Tuesday, the price of TerraUSD (USTC) was recorded at $0.01266, representing a 45% drop from this year’s high.

With a market capitalization of just $70 million, the Terra Luna Classic (LUNC) community is voting on a proposal to change USTC’s classification from stablecoin to Universal Standard Token or meme coin.

Check out the full news here

USTC Status Change

The Terra Luna Classic (LUNC) community is considering a proposal to convert TerraUSD (USTC) from a stablecoin to a Universal Standard Token or meme coin. This proposal comes as USTC no longer functions as a stablecoin, and the chances of it returning to the $1 exchange rate are slim.

Currently, USTC is trading at $0.01260, which means it would require an increase of more than 7,300% to reach parity with the US dollar. This proposal aims to maintain listing on exchanges and avoid regulatory restrictions.

Binance, LUNC’s biggest backer, has announced plans to remove USTC from their trading list by the end of this month, and other exchanges will likely follow suit. If USTC is no longer classified as a stablecoin, then exchanges can continue to list it without following strict regulations.

Read also: Critical Exploit in BNB Chain Meme Launchpad, User Security at Risk?

Regulatory Implications and New Name

By changing the classification of USTC, the token will be exempt from the regulations that apply to stablecoins, making compliance easier. Additionally, there is a proposal to change the name of USTC from TerraUSD to Universal Standard Token Classic but keep the ticker symbol USTC.

This move is expected to open a new chapter for USTC in the crypto market. Removing the stablecoin label from USTC is also expected to reduce confusion among investors and users, given that USTC has long been unable to maintain a stable exchange rate. This change may provide new opportunities for USTC to operate more flexibly in a dynamic crypto ecosystem.

Read also: Pump.fun to Migrate to Aptos? Recent Posts Spark Market Speculation!

Technical Analysis of USTC Price

The price of USTC has formed a double-bottom pattern at $0.010 with a neckline at $0.02193, which is this month’s high. The double-bottom pattern is one of the most bullish reversal signals in the market.

This suggests that USTC has the potential to bounce back and test the key resistance at $0.03140, which is the highest level since 2024 and about 145% above the current price.

However, if the price drops below support at $0.0085, the bullish outlook will be derail. Investors and traders should note these levels to make informed investment decisions in the face of ongoing USTC volatility.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. USTC Price Wavers as LUNC Community Votes to Make It a Meme Coin. Accessed on March 19, 2025
• Featured Image: Token Insight