Some people, including myself, bought large amounts of Luna, taking advantage of the significantly low price with an extremely low budget and without having any expectations. I knowingly bought them, knowing that they were a lost cause, and because I anticipated that people would rush to buy them for whatever reason.
It is gambling if you catch a falling knife when it has yet touched the ground. It is good enough if you catch it at the ground but it is so challenging to know when to catch it safely.
However, how are Luna and FTT not dead coins? Both have failed, and their developer is long gone; just because their price might be increasing and there's a possibility of taking advantage of it doesn't mean that it's still alive. There definitely is a possibility to yield large amounts of money, but from my perspective, it's way too risky.
LUNC Terra Classic is becoming a community led project and I think it will be fine. Separating it from UST and having support from community, nodes, exchanges to burn it, time will help it recover. LUNC won't be a dead coin and it will recover when people are greedy again.
FTT is better than LUNC and I believe at the end of this fiasco, FTX exchange will be acquired by some entity and FTT will fly again.
Last few days, rumours that FTX can retrieve enough capital to be solvent for users. People were greedy again and they gambled with FTT token. Today Bitcoin has a correction as predicted, altcoins will be bleeding today and tomorrow.
