Luna coin and UST by the LFG is the news in the crypto space for the last couple of days. UST got de-pegged and this has caused the crash in the crypto market and which has resulted in a big dip in the crypto portfolio. My portfolio is down by more than 50% and it's even dropping so not sure how much it will reduce in the coming days. No one likes the portfolio to get dropped and it's a very bad feeling indeed. I never expected that my portfolio would be down like this but the reality is that we can not do anything except hold all the assets. The portfolio in red does not mean that we are in a loss unless we don't sell out anything and I am following the same.
UST has recently ‘de-pegged’ to $0.45 from its value of $1. This marked a drop of about 55 percent. Since both UST and LUNA are interlinked, the massive drop in UST value has resulted in LUNA’s overall drop.
This is not the first time and there have been many similar scenarios when the market crashed but this is different and a big one. This price is shocking and truly was never expected that a project can fall like this and this is not all because this has also caused the market crash. If we look at the bigger picture and in a month range then LUNA's price was approx $100 and now it's not even 4 cents.
The Crypto market is highly volatile and at least this situation clearly proves it because now this coin has no value in the market and even exchanges are stopping the margin trade. Maybe in the coming days, we can also see the delisting from exchanges. It's obvious that when the project is not doing well and there are many rumors that it's all planned but difficult to say what is right or wrong. Now I remember the time 2 years back when SEC had filed the case against XRP and that was the time when XRP was falling like this and even got delisted in many US exchanges.
Investing in the Luna project now is not a wise decision however a risky decision can be taken with a low amount. It's like any amount that if we lose then it does not affect us. Also, the earning possibility is not even 1% but if it happens then we can earn big however this is not suggested at all. It's always suggested to invest in a solid project and LUNA was doing well but with UST the kind of APR paid seems to be high. Paying 20% apr on the stable coin is a really big thing and although we have now have it with HBD also but that is a different mechanism.
Thank you so much
Stay Safe
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Buy LUNA right now? No more than couple dollars just for exposure.
Buy UST right now? Maybe a tiny amount.
Way too unstable to risk any substantial amount.
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yes I think buying for $10 is not bad but I see that blockchain is paused now so even that is not a good option anymore
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There was a little drama with USDT today as well, it broke its peg for few hours, same with USDC, some are saying it’s a coordinated attack on stable currencies. There seems to be a lot going on in the background
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A house of cards has been built my friends. Its going to blow up big time and after that regulation means crypto will be done. Truly feel like it's over, i know its not but this shit aint recovering and people are not recovering.
I can remember you talking about this implosion like it was yesterday. Money isn’t safe in the banks, money isn’t safe in crypto. I’m just caught in the middle
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very well said my friend and its the same situation for me as well.
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Safety is certainly a concern and if a big project like luna can crash like this then I think in crypto anything can happen. It may take time but its not over for sure
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The USDT thing is over now. Did you HBD my friend? Its doing pretty well and I expect it to be a quite popular decentralized stable coin. Market seem to be recovering now
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There is a lot of uncertainty, this is the first time I've seen a cryptocurrency go up 1000% and down 1000% over and over in the same day.
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right. Its the biggest ever for me as well that I have seen in my last 3 years in crypto
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Maybe $10 worth.
yes not more than this but now blockchain is paused so even that is not good.
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I rather stay away from it. Wasn't very interested in it before and even less now.
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I never bought luna and UST and happy with my decision.
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Hello Reeta!
I was looking at it from one way, maybe throwing 5 dollars there and whatever happens happens, maybe those 5 dollars will become 50 dollars or even more or maybe you will lose 5 dollars only. I'm not sure whether it's worth it though since I would say that requires someone to read about the plans for compensations and not just throw money without thinking.
Thanks for sharing!