Do you think they can't recover from this downfall? And slowly, exit the market? They said they restart the blockchain - https://www.coindesk.com/business/2022/05/12/luna-issuer-terra-halts-blockchain-after-week-of-losses/, but will this address the decline of LUNA and UST? I have the feeling that they won't recover this easy. Who knows, they are about to exit even if they are showing their faces? But who will seriously run after them?
Topic: Holy Crap ! Terra is gone to zero ?!?! - page 4. (Read 623 times)
Do you think they can't recover from this downfall? And slowly, exit the market? They said they restart the blockchain - https://www.coindesk.com/business/2022/05/12/luna-issuer-terra-halts-blockchain-after-week-of-losses/, but will this address the decline of LUNA and UST? I have the feeling that they won't recover this easy. Who knows, they are about to exit even if they are showing their faces? But who will seriously run after them?
Down 100 % on CoinMarket Cap !! What !?!
There are still a few percentages remaining.It currently shows down by 97.09% and that's close to 100%. This coin changed a lot of lives when it hit ATH and now, it had also changed a lot of lives but negatively.
When it has reached a centavo value with what has made it look like it had the rug pulled. Feeling sorry for those people that have heavily invested on it and don't even hold a bitcoin.
Oh well, another big lessons for us that this project will do some rug pulls, even if you think that they are really trusted because they are showing their real faces.
Good thing is that I didn't bother to look at this coin during it's run last year, from 1xx% now close to 0, what a massive turn around.
And with that, feel sorry for those investors who buy in late, definitely they are not going to get out with their money and hopefully again, this is a learning process for everyone.
Do you think they can't recover from this downfall? And slowly, exit the market? They said they restart the blockchain - https://www.coindesk.com/business/2022/05/12/luna-issuer-terra-halts-blockchain-after-week-of-losses/, but will this address the decline of LUNA and UST? I have the feeling that they won't recover this easy. Who knows, they are about to exit even if they are showing their faces? But who will seriously run after them?
Couldn't really believe a project a big as it was can be literally be gone in few days. According to Do Kwon tweet days ago they were lending thousands of BTC to market makers. His followers doubt it since they send out all the 70K BTC on their wallet and its sort of liquidated. Worse than Bitconnect scam. And some of us thought it would bounce quickly right? Anyone who bought the dip must have lost it all.
That move they've made is already a red flag, how come they wouldn't notice such liquidation off BTC? Too bad for the people who invested on LUNA, now their money are gone forever. This is an eyeopener to everyone who doesn't know what brings a meme coin. Better to invest on BTC than any other shitcoins out there.
Down 100 % on CoinMarket Cap !! What !?!
There are still a few percentages remaining.It currently shows down by 97.09% and that's close to 100%. This coin changed a lot of lives when it hit ATH and now, it had also changed a lot of lives but negatively.
When it has reached a centavo value with what has made it look like it had the rug pulled. Feeling sorry for those people that have heavily invested on it and don't even hold a bitcoin.
Oh well, another big lessons for us that this project will do some rug pulls, even if you think that they are really trusted because they are showing their real faces.
Good thing is that I didn't bother to look at this coin during it's run last year, from 1xx% now close to 0, what a massive turn around.
And with that, feel sorry for those investors who buy in late, definitely they are not going to get out with their money and hopefully again, this is a learning process for everyone.
Yes but if you check the "All Time High" numbers down below to the right, it says 100 %. But even though it's that far down it keeps dropping in decimal value numbers ! And rank position too... I sold at $36 , and I thought I was too late...
Mathematically will never be 100% unless the price crashes to 0.00000000000000000000000, at the moment is 0.005.
But probably the point is that it has lost so much value now, checking cmc it is down to 98% and trading 0.013$. This could be one of the worst this year, or during the bear market.
It is reported as well that the blockchain has temporarily halted because the price almost go to 0.
Everyone was just talking about them last March if I'm not mistaken, when they start to go headline about buying bitcoin in the billions. Now, almost all of it's value is gone because of the bank run they experience on their stable coin.
Down 100 % on CoinMarket Cap !! What !?!
In my opinion, the Luna coin is now destroyed and died due to its team making TerraUSD closely related to it as this algorithmic stable coin failed and had a huge negative impact on Luna coin, and because its investor base lost confidence and credibility in it, so I see that it is impossible for Luna coin to rise again after it dumped so hard in several days unless a miracle happened, so we have to learn the lesson, that there is no safe investment other than Bitcoin and that the team is the most important part of the project.
Down 100 % on CoinMarket Cap !! What !?!
Luckily, I've also never dropped any money on Terra before or after this incident. Honestly, I just watched all the news about Terra falling so deep. Throughout the history of cryptocurrencies, Terra catastrophe has left a lasting mark. Because of the impact, it turns out that many say this has been planned from the beginning and has been structured.
Down 100 % on CoinMarket Cap !! What !?!
There are still a few percentages remaining.It currently shows down by 97.09% and that's close to 100%. This coin changed a lot of lives when it hit ATH and now, it had also changed a lot of lives but negatively.
When it has reached a centavo value with what has made it look like it had the rug pulled. Feeling sorry for those people that have heavily invested on it and don't even hold a bitcoin.
Honestly how can you still believe in LUNA and call out to hodl it? Are so fuckin blind or dumb?
This is a very unfortunate incidence in the crypto space. This is really devastating for investors. According to OutlookIndia (https://www.outlookindia.com/business/how-crypto-whales-wiped-off-terra-luna-on-binance-other-platforms-read-here-to-know-more-news-196106), this was caused by big investors, otherwise known as whales. During the midnight of May 7 and the early morning of May 8, big investors, who are also called crypto whales, began to sell approximately 285 million UST simultaneously on Curve, Binance, Anchor and other platforms. They also started to short Luna crypto currency at the same time. Since UST and Luna are tied together by an algorithm program the massive selling and shorting caused the balance to be put off. The day ended with UST losing its 1:1 ratio to trade at $0.98 that day, and Luna was down by 6 per cent at $76.51. Today, the value of 1UST at CMC is $0.3871.
Where lies the trust in the crypto space? Investors waking up to see even their "STABLE COINS" seriously devalued. This is lesson learned and I hope other stable coins and future ones will have a more robust approach to prevent this ugly situation repeating.
Where lies the trust in the crypto space? Investors waking up to see even their "STABLE COINS" seriously devalued. This is lesson learned and I hope other stable coins and future ones will have a more robust approach to prevent this ugly situation repeating.
Luna was hold in my wallet and i just shocked after seeing the downfall. I thought that was temporary and hold my assest but i was wrong! Then i bought luna with low price so that i can Cover loss on average if it pump but it goes down and still going downnn. This is the most terrible thing I've seen after 2017, crush of bitcoin. I was optimistic even some hours ago but now there's no hope. Its OVER...
It's pretty crazy, they're free-falling like a kindergarten slide. even if viewed now from Binance's twitter they are now on the Delist of the Future pair.
how many people lose money with just one day here.
But there really are some reasons there
1. they use their reserve funds using bitcoin and when bitcoin goes down there are certainly many investors who are worried because they think they don't have enough spare funds now which makes a lot of investors leave at the same time.
2. The value of UST has decreased because many have withdrawn funds from the anchor protocol in the Tera ecosystem. in this case, of course it is sustainable because UST and Luna are tied so that many burn UST to get $1 in luna and can be converted into USDT or USDC
how many people lose money with just one day here.
But there really are some reasons there
1. they use their reserve funds using bitcoin and when bitcoin goes down there are certainly many investors who are worried because they think they don't have enough spare funds now which makes a lot of investors leave at the same time.
2. The value of UST has decreased because many have withdrawn funds from the anchor protocol in the Tera ecosystem. in this case, of course it is sustainable because UST and Luna are tied so that many burn UST to get $1 in luna and can be converted into USDT or USDC
Down 100 % on CoinMarket Cap !! What !?!
Yeah that is really crazy. Even yesterday and the day before i was always thinking about investing a few bucks into Terra when it was around 2 USD or so and i was already regretting it when i did not buy them when it went up to around 6 dollars yesterday but now i am pretty happy that i did not buy any Terra. I am not really sure at the moment if Terra will have a future and if they can recover from that huge losses that happened the last few days and are still happening at the moment. The sad thing is that Terra is bringing down pretty much the whole crypto market with them after all Terra was a top 10 project.
Alot of buying and selling is still going on at exchanges. Traders are still active trading Luna and making profit from it, and investors are buying enough to hold. Check the exchanges it is listed on and see what goes on there. Luna is not dead. The price is picking up and it is around two cents after falling to $0.008 today. It can still rise like what happened to Ripple with SEC in 2020. Am buying more Luna and holding.
Luna had good market before,but it had loss everything now.Most of the people had invested huge amount their for the expectation of very high value and long run project.But Luna team had used this trap to cash out all the holding to Bitcoin and reduced both the price of bitcoin as well as the Luna.Now luna was became a scam project.
Now the blockchain is stopped, transactions are blocked. This is the right decision, because in a few days we would have over 100 billion LUNA coins.The founders have very big problems, they will be sued and criminal cases will be brought against them, so negotiations are underway now.The LUNA team agrees to all the conditions of large funds, because they have no choice.
I think we all should at this stage just give up on LUNA. It' keeps falling since the beginning of the week and the owner hasn't yet come public to announce his revival plan yet but rather opening rooms for suggestions. However, it's delisted on the no. 1 exchange.
Withdrawal for Luna is suspended on Binance I believe that delisting will follow, all this Chaos is intentional, those companies with Luna are manipulating the market for unknown reasons I think they will be visited by SEC and this one is going to be a long case journey.
Couldn't really believe a project a big as it was can be literally be gone in few days. According to Do Kwon tweet days ago they were lending thousands of BTC to market makers. His followers doubt it since they send out all the 70K BTC on their wallet and its sort of liquidated. Worse than Bitconnect scam. And some of us thought it would bounce quickly right? Anyone who bought the dip must have lost it all.
Down 100 % on CoinMarket Cap !! What !?!
I wrote about the reasons for increasing the number of coins in this post.https://bitcointalksearch.org/topic/m.60112622
This is an algorithmic coin and it is controlled by a smart contract that cannot be stopped.
Probably with a larger increase in the LUNA coins, the exchange will delist this coin
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