Before its collapse, TerraUSD (UST), later rebranded as TerraClassicUSD (USTC), was a leading algorithmic stablecoin and the third-largest in the crypto market. The downfall began in early May 2022, when large holders (whales) started withdrawing UST liquidity from Anchor Protocol, a popular DeFi platform offering high returns on UST lending, as high as 19.5%. The platform struggled with an imbalance between lenders and borrowers of UST, rendering its high yields unsustainable.The panic intensified in May 2022 as UST investors rapidly sold off the stablecoin. The Terra blockchain responded by excessively minting LUNA, attempting to restabilize UST's peg to the US dollar. Unfortunately, this led to a drastic price crash for both LUNA and UST, culminating in the implosion of Terra’s primary crypto assets and investor losses estimated at over $40 billion.Following these events, Terraform Labs initiated a revival plan, creating a new Terra blockchain (Terra 2.0) and rebranding Terra 1.0 to Terra Classic. LUNA and UST tokens were renamed to LUNA Classic (LUNC) and TerraClassicUSD (USTC), respectively. As of late 2023, USTC had shown signs of recovery despite facing challenges such as being listed as an unregistered security by the SEC. Its price rose significantly, reaching about $0.03685 by November 28, 2023. Several price predictions for USTC have been made, ranging from $0.0375 to $0.065 by the end of 2023 and even up to $1.03 by 2030​​.Despite the past challenges, the Terra Classic ecosystem is showing signs of recovery, with new projects launching and existing projects gaining traction. USTC is slowly regaining its peg to the US dollar, and new use cases are being developed, such as in DeFi and stablecoin swaps. However, it's important to remember that the cryptocurrency market is volatile, and USTC's price could be affected by negative news or developments​​.