The key differences between TerraUSD (UST) and TerraClassicUSD (USTC) stablecoins primarily lie in their operational blockchain, peg to USD, and market rank and cap.Operating Blockchain: Terra vs. Terra Classic UST operated on the original Terra blockchain. Post the market crash in May 2022, Terraform Labs rebranded this blockchain as Terra Classic, and UST was renamed TerraClassicUSD (USTC). A new Terra blockchain was launched, moving away from supporting stablecoins, with a new native digital token called LUNA, while the original LUNA was rebranded as LUNA Classic (LUNC).Peg to USD UST was a highly popular stablecoin, maintaining a consistent peg to the US dollar until the May 2022 crash. In contrast, USTC has struggled to regain its $1 peg since then. Recently, there have been significant efforts, including a proposal by developer Tobias Andersen (Zaradar), to re-peg USTC to the dollar. This proposal outlines various routes and mechanisms, such as quantitative easing and tightening, to stabilize USTC's value. Market Rank and Market Cap Before its collapse, UST was among the top 10 cryptocurrencies by market cap, peaking at over $9 billion. As of December 2023, USTC's market rank stood at 94, with a market cap of approximately $245 million. However, following the release of the re-peg proposal, USTC's price surged significantly, trading at around $0.41, indicating a potential recovery and increased market confidence.