What is the current price of TerraClassicUSD?
The current price of TerraClassicUSD is $0.005224 with a 3.93% change in the last 24 hours.
Hyperliquid perpetuals only. One snapshot every 5 minutes, up to 20 returned price levels per side. Liquidity beyond those levels is unknown. This is not a liquidation heatmap or a fill estimate.
Loading recorded snapshots…
Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
TerraClassicUSD is the failed algorithmic stablecoin formerly known as TerraUSD, or UST. It was designed to hold a value of one US dollar without holding dollars, and in May 2022 it broke that peg and collapsed, erasing roughly $40 billion of value in a matter of days and taking the Terra blockchain down with it.
USTC is what the token was renamed after the collapse. It still exists as a live denomination on the Terra Classic chain, which the community continues to run, and it still trades. It is not a stablecoin in any working sense: the mechanism that was supposed to hold the peg was disabled after the collapse, and the token has never returned to one dollar. Treat it as a distressed asset with an unresolved recovery story, not as a dollar substitute.
Sources for verification:
Terraform Labs was founded in 2018 by Do Kwon and Daniel Shin. TerraUSD launched in September 2020 on the Terra blockchain, paired with the network's volatile token LUNA.
The system's growth was driven less by the stablecoin design than by yield. Anchor Protocol, built on Terra, advertised a return of roughly 19.5 percent on UST deposits, subsidized from a reserve rather than earned from lending demand. That rate pulled in enormous deposits and briefly made UST one of the largest stablecoins in the industry.
There was an earlier warning that most of the market never saw. In May 2021, UST slipped below its peg. Kwon publicly credited the Terra Protocol algorithm with restoring it. In fact, as United States prosecutors later established, he had arranged for a high-frequency trading firm to secretly buy millions of dollars of UST to prop up the price. That deception, presenting an intervention as a self-correcting algorithm, became the core of the criminal case against him.
The original mechanism was a two-token mint-and-burn loop enforced by the chain itself. To create 1 UST, a user burned one dollar's worth of LUNA at the oracle price. To redeem 1 UST, a user burned it and received one dollar's worth of LUNA. The theory was that arbitrage would hold the peg: if UST traded at 98 cents, buying it and redeeming it for a dollar of LUNA was profitable, which should push the price back up. Nothing backed UST except the market's willingness to absorb newly minted LUNA.
That is where it broke. In early May 2022, large withdrawals from Anchor and concentrated selling pushed UST below the peg. The redemption path then worked exactly as designed and made the situation worse: holders burned UST for LUNA, LUNA's supply expanded from hundreds of millions of tokens into the trillions within days, and the price of LUNA fell toward zero. Once LUNA was worthless, so was the collateral behind the redemption promise. This is the death spiral that critics of algorithmic stablecoins had been describing for years. The Luna Foundation Guard had accumulated a bitcoin reserve intended to defend the peg; it was deployed and exhausted without restoring it, and validators halted the chain twice in mid-May 2022.
On May 28, 2022 a new chain, Terra 2.0, launched with a fresh LUNA token. The original chain was renamed Terra Classic. LUNA on that chain became LUNC and UST became USTC.
The mechanism is no longer live. On Terra Classic today, the swap module that once minted and burned between LUNC and USTC is configured with a minimum stability spread of 100 percent, which makes the old arbitrage path economically dead unless governance votes to change it.
columbus-5, the original Cosmos SDK chain, still producing blocks and maintained by independent validatorsuusd denomination on that chain, with bridged and exchange-issued representations on other networksThis section is short because there is very little to describe honestly. USTC has no functioning stabilization mechanism, no issuer, no redemption right and no reserve. It is not usable as a dollar substitute and should not be treated as one.
What remains is:
Repeg proposals have been debated continuously since 2022, generally involving collateral backing rather than a return to the algorithmic design. None has been completed, and none has restored the peg.
It is the largest and most consequential stablecoin failure in the history of the industry, and the only one that produced a fifteen-year prison sentence.
It is also unusual in that the chain survived its own collapse. Most failed projects stop producing blocks. Terra Classic kept running, was abandoned by its creators, and was taken over by a volunteer community of validators and developers who maintain it through on-chain governance.
The difference is categorical, not a matter of degree. A fiat-backed stablecoin such as USDC or USDT holds cash and short-term instruments and honors redemptions. A crypto-collateralized stablecoin such as Dai is overcollateralized on chain, so a fall in collateral value triggers liquidation rather than infinite issuance. Both models can fail, but both have something behind them.
USTC had neither. Its backing was reflexive: it was worth a dollar as long as the market believed the token used to redeem it was worth something. When that belief broke, the design converted a loss of confidence into unlimited token issuance, which is the opposite of what a collateral system does. That failure is a primary reason regulators in multiple jurisdictions now require stablecoin issuers to hold real, auditable reserves.
Realistically, there are three: speculation on a future repeg, which is unresolved and has no committed timeline; participation in the Terra Classic community ecosystem, including staking and burn-related activity; and historical or research interest, as the reference case study in algorithmic stablecoin failure.
There is no payments use case, no treasury use case and no store-of-value use case.
The Terra Classic chain is secured by delegated proof of stake, with validators staking LUNC and stakers delegating to them. Governance proposals, including burn tax changes, software upgrades and repeg plans, are decided by on-chain votes.
Security of the chain is not the issue with USTC. The chain works. What is absent is any mechanism that gives the token a stable value, and no amount of validator security supplies that.
These are stated bluntly because the history demands it.
USTC matters because of what it proved, at a scale no one could ignore: a stablecoin backed only by a reflexive relationship with a volatile token will fail under stress, and the failure will be sudden rather than gradual. The consequences reshaped the industry. It triggered the credit contraction that took down several large lenders and funds through 2022, it accelerated stablecoin regulation in the United States, Europe and Asia, and it produced one of the largest fraud sentences ever handed down in the sector. Understanding USTC is the cheapest way to understand why reserve quality and redemption rights are the questions that matter about any stablecoin.
USTC remains listed on a number of centralized exchanges and on Terra Classic decentralized exchanges. Availability has narrowed since 2022 and varies by jurisdiction and venue, and some exchanges apply additional risk warnings or trading restrictions to it.
USTC has been available on venues including:
Confirm both the listing and the deposit network before transferring, since versions of USTC exist on more than one chain.
USTC can be held on an exchange, which is custodial, in a Terra Classic wallet such as Station for the native uusd denomination, or in an EVM wallet for bridged and exchange-issued representations on other networks. Hardware wallets work through a compatible interface.
Confirm which version you hold. Native USTC on Terra Classic and a bridged representation on another chain are not interchangeable, and sending one to the wrong network is unrecoverable.
Compare USTC with the surviving Terra assets and with functioning stablecoin models on Coinrithm:
Track TerraClassicUSD live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for TerraClassicUSD on CoinRithm before using real money.
Use a crypto paper trading account to demo trade TerraClassicUSD with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading TerraClassicUSD with real money.
Read the complete paper trading guideThe current price of TerraClassicUSD is $0.005224 with a 3.93% change in the last 24 hours.
The daily trading volume is $278,566 representing a 6.59% change in the past 24 hours.
The market capitalization of TerraClassicUSD is $29,130,815, ranking #451 globally.
The fully diluted valuation (FDV) of TerraClassicUSD is $31,735,661, calculated assuming the total supply of 6,074,661,242 USTC is in circulation.
Circulating: 5,576,056,397. Total: 6,074,661,242. Max: N/A.
In the last 24 hours, TerraClassicUSD traded between a low of $0.004974 and a high of $0.005443.
USTC/USDTTether USDT0.005224 USDT
