Topic: Is Terra Luna bringing the whole market down? - page 4. (Read 703 times)
we most likely it happened this time. LUNA is in trouble, even their stable coin is in the range of $0.7 to $0.8, while the price of Luna itself is almost down 100%. This makes panic sell worst this year. this affects other altcoins, and makes the market bleed. however, I think LUNA is the biggest contributor to the current events. other things are triggered by a price drop that is severe enough to make people sell their assets. I hope this will be fixed soon and prices will recover.
Terra and Luna can keep minting but they will never resolve their problem.
I don't know... So long as there are people willing to buy Luna, there's hope that UST can be shored up again. I'm just shocked there are people willing to buy Luna. I mean, it's probably a great opportunity for a quick flip (or will be at some point when it hits bottom) but it's been shown that they'll dump as much of it as there are buy orders for in order to try and save UST and bring it back to $1. The price has fallen so much though, I'm sure the people in control will be able to exploit it to make a small fortune on the way back up once they've decided they fleeced enough of their holders. So glad that I stayed far away from this situation. It seemed clear that backing a stablecoin with Bitcoin was a bad idea, especially since the Bitcoin was being purchased at elevated rates due to the public nature of the purchase. At least Do Kwon learned why the big boys buy quietly OTC. He thought he was too big to fail. Now he'll probably be looking over his shoulder the rest of his life.
Terra and Luna can keep minting but they will never resolve their problem.
We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
today your worry about ust pegged happen and luna foundation selling their bitcoin and caused bloody market.Luna and UST be main reason why bitcoin and another altcoin dumped hard. today we learn alot from Luna ,investing in top 10 coinmarket didnt guarantee our investment will safe. If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
I do not think that UST is the one bringing the market down. Bitcoin is already on that path before Terra Luna crashes. It don't think it is one of the reason why BTC price plummet since I don't hear any news that they are liquidating their BTC holdings yet.
As far as I know they increased the minting of Luna per day to solve the current problem.
Do Kwon, the coin’s creator, made a last-ditch effort to return UST to its $1 peg by increasing the rate at which new luna is minted per day. The venture is essentially allowing supply of its stablecoin to be eaten up, a move it hopes will boost the price.
bear market is the moment where all the altcoins fall following bitcoin except stablecoins. UST as one of the stablecoins that is probably the most free-falling at this time even though it had strengthened for a while, one of the option that the terraluna team might have done is to sell all bitcoins to support the price of UST in this bear market
So you guys don't think Terra LUNA will recover? I was thinking of going in long with a little bit of capital at around $ 1 / LUNA. You think that's a bad idea?
No one knows on about recovery whether it could happen or totally this coin and knowing that it had able to reach ATH on last months and now it is down on 98% if that price which you could really say that this is some sort of money grab or total manipulation because if this one had that strong support it wont really be going down into that ridiculous percentage.
Not only Luna but also in other coins in the market specially into this bearish trend which is something thats not surprising.
So you guys don't think Terra LUNA will recover? I was thinking of going in long with a little bit of capital at around $ 1 / LUNA. You think that's a bad idea?
We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
Looks like, yes. I tried to warn people but then I started to not care... Stable coins are a huge risk for the crypto space. The bigger they get, the riskier crypto becomes. TerraUSD was relatively a smaller stable coin when compared with USDT. If UST can cause that much pain, imagine what would happen if USDT was going down. I hope that day never comes but when or if it does, it will be much worse than this.
Luna soon will reach $6. The only traders that buy luna are to shorting the market. bunch of guys have planned to sell their terra luna for the stable token. It's over for terra luna. This will become another bad thing to be written in the crypto book history if there was a company who collapse caused by failed to manage its product called stable token. I just wanna see how many traders are still interesting to buy this token. It's sad to see that dumping more than 75% in 3 days. What a shame
True, Luna's price now only somewhat hovers around $2 because traders are shorting it, anticipating even a low price after this. The whole scheme of Terra and Luna is a failure in this time of the market where only reputation stable coins like USDT or maybe BUSD could maintain their peg's price. Terra and Luna can keep minting but they will never resolve their problem. 
Luna soon will reach $6. The only traders that buy luna are to shorting the market. bunch of guys have planned to sell their terra luna for the stable token. It's over for terra luna. This will become another bad thing to be written in the crypto book history if there was a company who collapse caused by failed to manage its product called stable token. I just wanna see how many traders are still interesting to buy this token. It's sad to see that dumping more than 75% in 3 days. What a shame
If not, then its Terra Selling to pump thier ust. At least Terra company is being transparent enough and sincere about its plans on bitcoin. So its what we should expect if ust is not in same level as usdt.
Yes, terra was pumping its UST used bitcoin from the treasury/LFG. It seems like some bitcoins have been moving to the new wallet but this company has sold more than 500 millions USD worth of bitcoin to the market but the problem is selling in a loss was a disaster to this company. That's why terra wants to issue another 1.5 billions loan to make the UST stable. The idea by backing the stable asset with unstable asset was a very bad idea. This idea needs to be restructured again.
Agreed. Maybe if they had chosen an additional asset or two with low correlation that could rebalance... Paxg, for example, comes to mind. might not be enough on its own but if there were a few of those assets mixed in, it might be enough to offset the volatility ...
If not, then its Terra Selling to pump thier ust. At least Terra company is being transparent enough and sincere about its plans on bitcoin. So its what we should expect if ust is not in same level as usdt.
Yes, terra was pumping its UST used bitcoin from the treasury/LFG. It seems like some bitcoins have been moving to the new wallet but this company has sold more than 500 millions USD worth of bitcoin to the market but the problem is selling in a loss was a disaster to this company. That's why terra wants to issue another 1.5 billions loan to make the UST stable. The idea by backing the stable asset with unstable asset was a very bad idea. This idea needs to be restructured again.
It's impossible, unless if they sell all their bitcoin that they bought previously because surely it can make an impact in the market. But seems they're not the reason behind of the situation of the market in my personal opinion, because obviously we are currently on panic selling from weak hands that bought bitcoin during the bearish that the price of bitcoin is almost down 50% from ATH. and i have doubts miners are involved as well on this situation..
We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
this is a domino effect of implementing stablecoins that are backed bitcoin. during bull markets we will never realize this, but during market crashes like today. we see clearly stablecoins turning into unstable coins. as you said everything is interconnected and the effect is a downturn in the crypto market.
I think Miners are currently selling according to the picture i see on twitter
.
If not, then its Terra Selling to pump thier ust. At least Terra company is being transparent enough and sincere about its plans on bitcoin. So its what we should expect if ust is not in same level as usdt.
then let us wait for a moment when they will going to explain their side or at least shows their behavior nowadays ..If not, then its Terra Selling to pump thier ust. At least Terra company is being transparent enough and sincere about its plans on bitcoin. So its what we should expect if ust is not in same level as usdt.
because this dumping season may continue to happen and maybe there will more bad to come .
I don't expect any Bull coming this may until September , and that is at least 4 months of this dump , and also I believe that there are something from the whales to take part in this dumping .
I think Miners are currently selling according to the picture i see on twitter
.
If not, then its Terra Selling to pump thier ust. At least Terra company is being transparent enough and sincere about its plans on bitcoin. So its what we should expect if ust is not in same level as usdt.
.If not, then its Terra Selling to pump thier ust. At least Terra company is being transparent enough and sincere about its plans on bitcoin. So its what we should expect if ust is not in same level as usdt.
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We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
Luna ponzinomics will surely fuel the bear for more downward direction. This is the repercussions of hyping the market with huge APY while can't sustain in the long run. Of course everybody that staking on high APY will easily take profit when the market turns south just like what happening right now. I wonder if LUNA foundation will do a buy back to cover the value loss on there stablecoin or will be happy on the money they bag from traders that purchase UST in exchange for temporary high APY.
It's not only bringing the market down but it's also bring its own token like tera and ust to go down as well. Tera foundation didn't expect if the dump will create massive sell for their own tokens. I do believe if the disaster for this company is coming. UST was just an experiment and it has not even tested. So many platforms have tried to created various stable tokens but these companies have gone. I expect the same thing to happen with tera foundation with those platforms.
We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.
If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
I was impressed by what they've been doing a few months ago about a continuous purchase of bitcoin. Now, we're seeing the expense of it and you're right with what you've said. As they try to maintain it through possible sell-offs as their stable coin is about to downfall, we actually are seeing its fall, and if this continues and isn't able to maintain its position as stable. Possibly that we're going to see the domino effect of it but, this isn't just all about UST and Luna. But this is an overall experience of the world market which still has an active conflict of Russia and Ukraine. If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.
Is this what's happening now already?
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