The prices of the cryptocurrencies TerraClassicUSD (USTC), Terra Classic (LUNC), and Terra (LUNA) skyrocketed, with the first of these three being the most prominent.

USTC registered a 400% appreciation to $0.69 in the last three days, its highest price in more than a year. It had not reached that price since July 2022. In this way, this currency — which was once a stablecoin — was shown to gain some life, although it was not enough for it to regain its peg with the dollar.

The Terra-Luna ecosystem coin rises took place as USTC burns increased. This is shown by data from the LUNC Metrics browser.

The all-time high of 2 million USTC burned, according to the seven-day moving average, was reached. And in total, since the fork of this coin and UST, almost 1.5 billion USTC was burned.

The burning of the USTC cryptocurrency (formerly known as UST) is a process carried out by its ecosystem and the leading cryptocurrency exchange, Binance. This process involves sending the coins to a wallet address that no one has access to, taking them out of circulation. In this way, your goal is to increase its value.

In turn, the recent momentum of the USTC market occurred against the backdrop of the Nov. 24 approval of Do Kwon's extradition.