At the time of writing, USTC is trading around $0.05, which is a fivefold increase from $0.01 on November 25.
Similarly, the price of Terra Luna Classic (LUNC) has also surged by nearly 30% in the last 24 hours and is currently trading at $0.00009.
One of the main reasons for the rapid growth of these infamous pairs is the positive developments within the Terra Classic network, driven by community efforts to revive the ecosystem to its former glory in 2021.
Specifically, according to data shared by the Terra Classic Foundation, the network has recently set new records for the number of daily transactions. For instance, on November 22, the Terra Classic network recorded a remarkable 589,000 transactions, a significant increase from the average of 300,000 transactions recorded in the past month.
The staking ratio on the Terra Classic network has been trending upwards, rising by over 15% after a brief decline in mid-November.
This improvement in staking and network usage indicates a more positive sentiment among users towards the project, driving ecosystem recovery.
However, Terra Classic still has a long way to go to regain the glory it once had. Therefore, Terra Classic needs to maintain this attractiveness for an extended period to return to its former golden era.
During the peak of 2021, Terra was one of the most widely used blockchains, thanks to the introduction of the LUNA token and the TerraUSD (UST) stablecoin. However, the collapse of the billion-dollar empire and the legal issues involving Do Kwon led to the emergence of two separate chains, Terra 2.0 and Terra Classic.