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The real reason for the rise of USTC comes from the former Anchor team's plan to restart a stablecoin project, Mint Cash, which will be cold-launched through $USTC.
1. The collateral of this stablecoin project is $BTC
2. Holders of USTC will be open to deposit into a contract in the future and will receive tokens for the new project.
3. The goal of the project is not to bring USTC back to $1, but it will greatly increase the current value of USTC.