CoinMarketCap has begun updating the current supply of TerraClassicUSD (USTC) every 2 hours.
Cryptocurrency price-tracking platform CoinMarketCap (CMC) has started updating its data on the TerraClassicUSD (USTC) circulating supply every two hours to reflect current data, as the community remains committed to its campaign to reduce the asset’s supply by burning daily.
The independent community-driven group Terra Rebels first highlighted the development in the early hours of Friday. “In addition to LUNC supply updates on CoinMarketCap and coingecko, USTC is now updating as well,” the Terra Rebels official Twitter handle disclosed in a tweet.
— Terra Rebels (@TerraRebels) November 25, 2022
Terra Classic (LUNC) validator and prominent Terra influencer Classy further shared the development, disclosing more insight on the situation, including that the supply updates from CMC appear to be coming in every 2 hours.
“$USTC is now having its supply updated on @CoinMarketCap every 2 hours,” Classy revealed ten minutes after the disclosure from the official Terra Rebels handle. Classy further shared a screenshot detailing the updated supply at the time.
Data from Classy’s screenshot revealed a circulating supply of 9.81B USTC. Recent data shows that the current circulating supply is 9,805,941,162 USTC as of press time. Additionally, the total supply is currently 9,806,470,248. Data from CoinGecko also puts USTC’s circulating supply at 9.8B as of press time, although little is known about the price tracker’s update timeline. USTC supply is changing with time because of continuous burns due to the 0.2% burn tax.
This development from CMC comes barely two weeks after reports surfaced, suggesting that the renowned price tracker had begun updating the circulating supply of LUNC to reflect staked tokens and current data, as previously reported by The Crypto Basic.