ConMarketCap, the leading crypto price tracking platform, has started to update its data on the TerraClassicUSD (USTC) circulating supply every two hours in order to reflect the most recent data for the Terra Classic community that is committed to reducing the digital asset’s circulating supply via several burn initiatives.
The new development was first spotted and reported by the handler of Terra Rebels’ Twitter handle on November 25. Aside from ConMarketCap, the report says that another top crypto price tracking platform CoinGecko has also effected a similar change to the USTC data update.
Terra Rebels tweeted, “In addition to LUNC supply updates on @CoinMarketCap and @coingecko, USTC is now updating as well.”
— Terra Rebels (@TerraRebels) November 25, 2022
The new development was corroborated by Classy, a Terra Classic influencer and LUNC validator. In a tweet on the same day, Classy shared a screenshot that explains the USTC data update on CoinMarketCap better. He disclosed that the USDT supply updates seem to be coming every 2 hours.
Captioning a screenshot for illustration, Classy wrote, “USTC is now having its supply updated on CoinMarketCap every 2 hours.”
— Classy 👾 (@ClassyCrypto_) November 25, 2022
According to the data shared by the LUNC validator, USTC has a circulating supply of 9.81 billion tokens. Also, data from CoinGecko show a tally figure with that of CoinMarketCap.
It’s worth noting that the USTC supply will keep changing due to continuous burns via the 0.2% burn tax.
Moreover, this new development is coming a few weeks after the leading crypto price tracking platform started to consistently update the LUNC circulating supply to reflect staked tokens and other Terra Classic-related data.