Topic: Is Terra Luna bringing the whole market down? (Read 697 times)

Quote from: keyscore44 on May 09, 2022, 04:39:10 PM

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?

it is not terra luna that brining the market dumping instead it is the manipulator that bringing the issue constantly to make people panic more , we have so many big issues in the past and even scams here and there , also there are hacking of big exchange but what happened? market always recovered right?
it is become exaggerating to when the problem arise now and makes the market dumping .

Fakhrulenclix

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The decline in market prices that is currently happening is a natural thing, but it's not all because of Luna, it's just that the fall that happened to Luna and Ust made them down without being able to get up because the developers were unable to save their coins.
but that's not the case with other coins, if you look at the current market price, I think price movements tend to be stable, which means that the decline that occurred for a long time has ended even though it hasn't recovered, but there is no further decline in depth, which is something that positive and possible to recover.

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Quote from: South Park on May 29, 2022, 04:19:01 AM

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 think that the Luna treasury alone is not able to make the entire cryptocurrency market drop so drastically.
However, the financial security of Luna that you write about seems to me very unstable and in my opinion this may be one of the reasons why this project may be in danger of collapse.

This is absolutely the reason for the market sentiment, 80k btc was withdrawn and causing instability Luna stable coin loses it values dropping drastically so nothing much rather that Luna but seems the market is gaining it strength back since the launched of Luna 2.0.

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Quote from: Samurai trieng on May 23, 2022, 10:32:17 AM

that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna, it is very impossible if luna can decrease the entire market because LUNA is only an ordinary coin and currently has left by the developer and terra luna was down almost 100%.

I disagree, Terra Luna was one of the most important coins in this market and when it collapsed almost overnight then this had the effect of bringing the whole market down, besides the evidence supports this, as when it became apparent that Terra Luna was crashing then the rest of the coins in the market began to go down as well, now if Terra Luna was a coin that no one but a few people knew about then you may have a point, but it was in fact a very popular coin which caused massive losses not only to retail investors but even exchanges were affected by it.

We have to understand that this Terra thing happened right in the middle of a lot of bad news, global stock markets and inflation news all came out in the same week.

For sure the collapse just made people so fearful that most sold when they would not have anyway, and confidence in crypto is totally shaken,,, but it is not the main cause, it is for sure a large contributing factor yes.

Think about it though, Terra was made out of nothing and people just poured money into it. They lost a gamble, and that made them fearful of the entire crypto market.

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Quote from: makishart on May 25, 2022, 09:25:31 PM

Quote from: Samurai trieng on May 23, 2022, 10:32:17 AM

that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna,

I can't agree with this. Luna has massively made so many people scared to invest in the crypto. What in the hell billion marketcap project can go to the zero in a night. This didn't even make sense. It's better if you are also watching the various news about luna. Even yellen was also talking about luna and regulators are also preparing the draft for the stable token regulation. This is giving massive impact to the everything. It makes regulators pays more attention to the luna and crypto.
Luna was disaster for crypto. It was also bringing bitcoin down as well caused by all of LFG reserved funds being sold to the market.

To be honest the market has shown a decline since the beginning of this year, and what happened to Terra Luna made the market situation
even worse. Many investors are panicking about what happened to Terra Luna, because Terra Luna is very popular and able to be in the top 10.
So when the price falls drastically, of course it affects the market as a whole, because many people panic what happened to Terra Luna will also
happen to other popular coins. So I totally agree if it is said that what happened to Terra Luna made the crypto market fall.

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Quote from: Samurai trieng on May 23, 2022, 10:32:17 AM

that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna, it is very impossible if luna can decrease the entire market because LUNA is only an ordinary coin and currently has left by the developer and terra luna was down almost 100%.

I disagree, Terra Luna was one of the most important coins in this market and when it collapsed almost overnight then this had the effect of bringing the whole market down, besides the evidence supports this, as when it became apparent that Terra Luna was crashing then the rest of the coins in the market began to go down as well, now if Terra Luna was a coin that no one but a few people knew about then you may have a point, but it was in fact a very popular coin which caused massive losses not only to retail investors but even exchanges were affected by it.

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Quote from: $anounimus$ on May 25, 2022, 10:59:29 PM

This can be a big problem for the market in general, as it will encourage further volatility in an already volatile market. As with any investment strategy that looks too good to be true, caution is always advised. The crypto market is very volatile. Maybe in 5 years, the market capitalization in Terra Luna will be 10% of the total market capitalization of all cryptocurrencies, in my view, this may be a turning point that pulls the market out of its current slump.

It's just the timing though, we are in a bear market and it just worsen because of the Luna debacle. We all know that the market is going to be volatile regardless of the trend lines, but there could be some catalyst that will make the price go on a downward spin and that is Terra Luna. Billions of dollars wipe because of some costly mistake from them or if it is plan ahead, we can only speculate at this point.

$anounimus$

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This can be a big problem for the market in general, as it will encourage further volatility in an already volatile market. As with any investment strategy that looks too good to be true, caution is always advised. The crypto market is very volatile. Maybe in 5 years, the market capitalization in Terra Luna will be 10% of the total market capitalization of all cryptocurrencies, in my view, this may be a turning point that pulls the market out of its current slump.

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Quote from: Samurai trieng on May 23, 2022, 10:32:17 AM

that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna,

I can't agree with this. Luna has massively made so many people scared to invest in the crypto. What in the hell billion marketcap project can go to the zero in a night. This didn't even make sense. It's better if you are also watching the various news about luna. Even yellen was also talking about luna and regulators are also preparing the draft for the stable token regulation. This is giving massive impact to the everything. It makes regulators pays more attention to the luna and crypto.
Luna was disaster for crypto. It was also bringing bitcoin down as well caused by all of LFG reserved funds being sold to the market.

RussianEnglishTranslation

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I didn't invest in Luna or UST because it looked like a scam, and it was. I do think that a fully algorithmic stablecoin can work, but it does need proper coding and a peg. That's why I am excited to see what CNDL Candle Labs is doing. Their chain is technically superior to Luna in its own right but it's also designed to host metaverses specifically, not stablecons. I think this is a much more sustainable direction for a chain and I think that it is positioned to do well over the coming years as metaverses gain in popularity. The cool thing is that I didn't even have to buy CNDL. Since they have a beta program right now, I got some coins just by testing their wallet etc. This might be a good opportunity for some of you who lost money on Luna to recoup some of those funds.

Samurai trieng

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that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna, it is very impossible if luna can decrease the entire market because LUNA is only an ordinary coin and currently has left by the developer and terra luna was down almost 100%.

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Quote from: manok jepang on May 21, 2022, 09:57:51 AM

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.

The trouble we are having right now is that it keeps going on and we are not recovering because Luna is still trying to get Luna better, the team and the investors are all trying their best to keep it going. They are aware that Luna will not recover but at the end of the day UST could recover in their mind, but it is not and it's 6 cents already and it's terrible.

But, the amount of money spent on trying to recover that or even trying to keep it going for a little while, instead of letting both of them to die, is a trouble. That is why I believe that we could not be really expecting them to make it back, so just let them be and the market will go up a lot.

Wildwest

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I don't think it's terra luna that causes the current market situation to drop drastically, because before there is a problem with the terra luna project the value of bitcoin and altcoins has indeed begun to fall, and currently bitcoin and altcoins are struggling to bounce back even though this takes time but I believe it won't take long for all to return to the highest value, luna's project is currently doing major repairs so that there is no eraser on the largest exchanges today.

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the crypto market is currently in decline and that is because the market is in a bearish condition, I not at all that this market decline is influenced by Terra Luna, because that is a very unlikely thing to happen.

It's true, the market has been bearish since the end of 2021 but with the collapse of Luna and Ust the whole market was dumped leading to a serious crash. Before that Dokwon spent a lot of money to buy bitcoin and some other altcoins to support ust but after ust started depeg they have to sell bitcoin and other altcoins to offset the ust price in order to maintain a stable level for ust. This caused panic selling dragging the entire market down rapidly.

manok jepang

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the crypto market is currently in decline and that is because the market is in a bearish condition, I not at all that this market decline is influenced by Terra Luna, because that is a very unlikely thing to happen.

ajochems

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It was true fact happened a week ago. Total market loss the trust on the crypto currency,it’s like a gambling on investment in crypto currency. But the fact is different from the real,people stop investing and full cash out of crypto currency to Fiat. At the last total people almost cash out and market was dam collapsed. So the price of most of the coin reduced.

andyou1234

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I don't think that Terra Luna can bring down the entire market, because this token doesn't have strong fundamentals at all to be able to sustain its own destruction, the point is how a token can make other tokens follow it while he himself can't at all making himself able to survive from a slump, the thing is different with BTC where the coin has been proven to be able to affect all coins in crypto can depend on its growth.

saladin7000

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I think terra luna does not affect the price fluctuations in the market, because LUNA is one of the coins that is still in the development stage and the project developers have not succeeded in doing that, where currently terra luna has dropped almost 100% of the ATH price and the worst thing is that terra luna has been removed from the list on binance, of course this makes the holder of terra luna bleed.

ringgo96

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For UST I think it will get worse for them to live at the moment and they have to wait for the recovery that is currently happening, with the situation getting worse they want to lift back what is currently very difficult for us to accept, but with the current decline in terra luna affecting market conditions worse of course I am not sure because there is something else going on until the value of bitcoin and altcoins decreases.

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Quote from: Chato1977 on May 20, 2022, 05:28:55 AM

so yeah this may add flavor to the dumping but remember that even before that Terra Luna issue? the market starts dumping lol.

The market has been dumping before luna but luna was making it even worst caused by the poorly design of its stable token. This is also bring so many people are feeling panic. it's dead just only in a few days. What a pathetic project. Bunch of followers have gone and the trust of community already disappeared and so this is also giving so many impact to the crypto investors. They are starting to distrust the crypto.
Don't you even aware about that? Roll Eyes

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I don't think it is Terra Luna Itself making the whole market down , because we have several situation in the past that makes high scamming than this but still market did survive .
so yeah this may add flavor to the dumping but remember that even before that Terra Luna issue? the market starts dumping lol.

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Quote from: AakZaki on May 13, 2022, 09:38:44 AM

I was so surprised by this, imagine he was almost down 100%. Currently I see in Binance the lowest price reaches 0.003. Even this price is technically unreasonable, if you want to buy it I am also a little afraid because this coin is not yet clear how it will be. The most appropriate if you have residual funds then scalping is the best way.
I slightly disagree if luna has a big effect on BTC. BTC has its own pattern. This time is right in the middle of the halving period and it happened also in last year's halving. So far I think it's still natural, I'm just sorry for those who have Luna at the price of ATH.

yes you are right the current value of terra on binance is almost close to zero, of course it will raise big doubts when planning to buy the token, and the current decline of terra luna cannot affect other coins on the market, because LUNA influence not been too big in crypto growth, I think currently only BTC can affect the crypto market.

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Quote from: darewaller on May 13, 2022, 02:22:55 PM

Quote from: mindrust on May 11, 2022, 12:45:23 PM

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.

They never listen, you always try to tell people what they should avoid, I can't tell you how you could make money because if I knew it then I would be wealthy right now, but I can teach you how to avoid losing money and they never listen. They are always focused on how they could make money and rarely ever focus on how they could avoid losing.

I try my best to tell them what to avoid, and how they can spot a situation that could go south, and they ignore it for the sake of making profit. I have so many friends who bought a ton of Luna today for example, anywhere between 2 to even 10 dollars, because they believe it will recover, why take the risk though?

On average people overestimate their capabilities, the people that do not listen to your advice about how not to lose money do so because to them that possibly does not even exist in their minds, for them the only scenario that exist is to earn a small amount of money or to earn a big sum of money, they never think about losing and this is nothing really that rare, how many people take risky decisions with their lives only to lament the outcome they got and then they tell you that they never believed something like that could happen to them? This is very common, which explains why so many people seem to behave in a way that does not seem to make sense for those that can see the dangers of their actions.

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Quote from: diffract on May 13, 2022, 06:00:07 PM

So Do Kwon posted this: https://twitter.com/stablekwon/status/1525238422264172544
The Luna Foundation Guard is "documenting the use of the LFG BTC reserves during the depegging event."

Does this mean more bad news for BTC's price action?

even if there is another Bad news , i will take this as a chance because there is nothing we can do now but to take the advantage instead of being depress and disappointed , we already knew how this market work and dumping is part of the system.
so take this to favor you? or be a loser all your life.

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Quote from: ScamViruS on May 13, 2022, 05:57:52 PM

Quote from: cdog on May 13, 2022, 03:27:22 PM

Quote from: usekevin on May 13, 2022, 02:34:05 PM

On deep thinking about the full market movement,it will be the true one.Because the price of Luna was reduced 99.9% from the old value.This give huge impacts to the market.Many people had cash out their entire money from the Luna.Some people had withdrew entire and get the funds out to their bank accounts.It was reasons for the dump.

The effect of a 99% decline in luna prices is very bad for the crypto market, a lot of people's speculation about the bear market today is related to the price loss factor on luna and ust coins, I think not all traders cash out of losses but they will recover losses on bitcoin trading and other top altcoins.

It is true that Luna's collapse did not bring good news for the crypto market. Looking at the situation in the market, one can understand what is really happening and fear has been created in the market among the traders. When one coin was fundamentally very strong and one top coin was Luna. No crypto investor / trader ever thought that this coin would crash this way. But in reality it has happened and traders are closing other trades so as not to fall into such a situation. Hopefully this situation will get better soon and Luna investors will be able to recover their losses from other opportunities.

The market experienced its bad moment, and if this issue haven't happened we could've experienced the crash for some other reason. The cyclic process have taken place and for some period we'll experience bearish move with minor bullish fluctuation. Until then it can be used as an opportunity to invest and the next bullish move can happen in a much faster way.

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Quote from: davincicode666 on May 13, 2022, 01:28:13 AM

Quote from: cdog on May 13, 2022, 03:27:22 PM

You know what's scary?
TRON and ADA are working on new algorithmic stable coins. Previously we had one and look what it's done, what will happen if we have double trouble? These new projects will have a serious reputation to build up, and whoever attacked UST won't sleep on new algo stables.

UST has been in trouble during the downturn with her and Luna recently so it's best to ignore it first and take a look at the others like TRON and ADA you mentioned because I think both of them are still doing very well so far and not having the same problems as UST at the moment.

We can't ignore the issue as it's serious. Maybe it is easy for you to say this because you are not one of those who lost their money on those assets but indeed that we can't be like this forever. How can we progress if we don't move on? We can try again investing on other coins and hope for the best out of them. Maybe we can get lucky and we can recover the huge money that we lost before.

To be honest I have a trust more on tron and ada than terra luna. The two coins have better devs on them so they know the risk that they are going to venture. This was like a break or make moment because if this fails, many will leave these coins but if it's a success the more they get investors.

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So Do Kwon posted this: https://twitter.com/stablekwon/status/1525238422264172544
The Luna Foundation Guard is "documenting the use of the LFG BTC reserves during the depegging event."

Does this mean more bad news for BTC's price action?

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Quote from: usekevin on May 13, 2022, 02:34:05 PM

On deep thinking about the full market movement,it will be the true one.Because the price of Luna was reduced 99.9% from the old value.This give huge impacts to the market.Many people had cash out their entire money from the Luna.Some people had withdrew entire and get the funds out to their bank accounts.It was reasons for the dump.

The effect of a 99% decline in luna prices is very bad for the crypto market, a lot of people's speculation about the bear market today is related to the price loss factor on luna and ust coins, I think not all traders cash out of losses but they will recover losses on bitcoin trading and other top altcoins.

It is true that Luna's collapse did not bring good news for the crypto market. Looking at the situation in the market, one can understand what is really happening and fear has been created in the market among the traders. When one coin was fundamentally very strong and one top coin was Luna. No crypto investor / trader ever thought that this coin would crash this way. But in reality it has happened and traders are closing other trades so as not to fall into such a situation. Hopefully this situation will get better soon and Luna investors will be able to recover their losses from other opportunities.

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Quote from: usekevin on May 13, 2022, 02:34:05 PM

On deep thinking about the full market movement,it will be the true one.Because the price of Luna was reduced 99.9% from the old value.This give huge impacts to the market.Many people had cash out their entire money from the Luna.Some people had withdrew entire and get the funds out to their bank accounts.It was reasons for the dump.

The effect of a 99% decline in luna prices is very bad for the crypto market, a lot of people's speculation about the bear market today is related to the price loss factor on luna and ust coins, I think not all traders cash out of losses but they will recover losses on bitcoin trading and other top altcoins.

usekevin

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On deep thinking about the full market movement,it will be the true one.Because the price of Luna was reduced 99.9% from the old value.This give huge impacts to the market.Many people had cash out their entire money from the Luna.Some people had withdrew entire and get the funds out to their bank accounts.It was reasons for the dump.

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Quote from: mindrust on May 11, 2022, 12:45:23 PM

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.

They never listen, you always try to tell people what they should avoid, I can't tell you how you could make money because if I knew it then I would be wealthy right now, but I can teach you how to avoid losing money and they never listen. They are always focused on how they could make money and rarely ever focus on how they could avoid losing.

I try my best to tell them what to avoid, and how they can spot a situation that could go south, and they ignore it for the sake of making profit. I have so many friends who bought a ton of Luna today for example, anywhere between 2 to even 10 dollars, because they believe it will recover, why take the risk though?

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For sure, there is no denying that at all. I mean it has been bringing it down for few days now and it looks like it's not going to stop anytime soon by the looks of it. It can't impact it that much anymore, all the money got out of it and it won't make that much noise to be fair.

However, what we need to do right now is to check what's going on and see if others could follow. If other coins follow suit then it could be terrible but if not then we are going to be fine. I think that there could be a few more projects that will crash after this, it looks like it's totally possible to repeat the action for at least 2 others but I hope that won't happen.

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I was so surprised by this, imagine he was almost down 100%. Currently I see in Binance the lowest price reaches 0.003. Even this price is technically unreasonable, if you want to buy it I am also a little afraid because this coin is not yet clear how it will be. The most appropriate if you have residual funds then scalping is the best way.
I slightly disagree if luna has a big effect on BTC. BTC has its own pattern. This time is right in the middle of the halving period and it happened also in last year's halving. So far I think it's still natural, I'm just sorry for those who have Luna at the price of ATH.

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Quote from: strunberg on May 12, 2022, 03:12:46 AM

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

no more people will trust to LUNA , today Luna hit new low again and no buying pressure in this coin. Its become nothing now for Luna and UST , most crypto traders now short Luna till to earth not only moon again. we become witness how dark this Luna rugpull and UST, alot investors become poor man due holding Luna which is recognized as best projects.

That's scary. Even the project that we already trusted for quite some time can still betray us. I agree with what @X-ray said, this will be recorded in the history of cryptos but it's not something that everyone should be proud of so I am not sure if many people will look back at it someday especially if they are among to those who got scammed by this coin as that can only bring them a stress and heartaches but for sure there are still that will buy this coin as they think this coin can still recover.

Now, we finally know why the market and the price of btc is dumping really hard. This issue might have contributed a lot along with other negativeness.

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Quote from: EdenHazard on May 12, 2022, 07:30:25 PM

You know what's scary?
TRON and ADA are working on new algorithmic stable coins. Previously we had one and look what it's done, what will happen if we have double trouble? These new projects will have a serious reputation to build up, and whoever attacked UST won't sleep on new algo stables.

UST has been in trouble during the downturn with her and Luna recently so it's best to ignore it first and take a look at the others like TRON and ADA you mentioned because I think both of them are still doing very well so far and not having the same problems as UST at the moment.

Tony116

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You know what's scary?
TRON and ADA are working on new algorithmic stable coins. Previously we had one and look what it's done, what will happen if we have double trouble? These new projects will have a serious reputation to build up, and whoever attacked UST won't sleep on new algo stables.

Double trouble incoming indeed if they insist to work on TRON / ADA stable coins ... it's proven very poor .. awful and scared concept on what so called stable coin , look where LUNA now , it's worth $0.00008 from hundred dollar within a month , what a scandal! The UST terra blockchain network has officially stopped working now.

This is terrifying moment. Wild crazy crypto!

Luna's lesson is so great, I don't think Tron, Ada or even Near will carry on with this idea. If they still insist on doing it, it's like killing themselves and becoming the next Luna. The Luna crash caused the market to evaporate $600 billion, this is the craziest thing we've ever seen, it's more than the worst thing that happened in 2018. Crypto are crazy and nothing is impossible. I hope newbies will learn from luna's lesson, cryptocurrencies are not a place where we can get rich quickly without risk.

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You know what's scary?
TRON and ADA are working on new algorithmic stable coins. Previously we had one and look what it's done, what will happen if we have double trouble? These new projects will have a serious reputation to build up, and whoever attacked UST won't sleep on new algo stables.

Double trouble incoming indeed if they insist to work on TRON / ADA stable coins ... it's proven very poor .. awful and scared concept on what so called stable coin , look where LUNA now , it's worth $0.00008 from hundred dollar within a month , what a scandal! The UST terra blockchain network has officially stopped working now.

This is terrifying moment. Wild crazy crypto!

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Quote from: $crypto$ on May 12, 2022, 06:37:04 AM

You know what's scary?
TRON and ADA are working on new algorithmic stable coins. Previously we had one and look what it's done, what will happen if we have double trouble? These new projects will have a serious reputation to build up, and whoever attacked UST won't sleep on new algo stables.

Also TETHER shows some drop as well, which supposed to be the stable coin yet its moving as well, this might be the scariest scenario in the market where most of the stable coins are dropping, so I hope no more drop like this because for sure, it can affect the whole market. Bitcoin goes below $30k again, that could be the signal of a long bear market, I hope I'm wrong because many can't really afford to see another long bear.

blockman

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Quote from: blockman on May 12, 2022, 05:47:14 AM

Quote from: xmonkeyx on May 12, 2022, 02:12:30 AM

Now the price is under half a dollar with a decline that will still occur and even some people have also assumed that Luna will die within this year and if it doesn't die, then another big increase could happen to Luna with potential that will continue to grow in the future.

UST is $0.4
Terra is out now of top 100 and priced at $0.06 and it was lower a few hours ago and, is now in ranked 128. That's totally a massive lost for these two projects.
The foundation is losing a lot and people are now starting to say that this is like bitconnect 2.0. I still don't know if that's how it's going but everyone is looking at it every single minute.

Terra Luna's bad image is bad, many investors think this will come out as scamers where the price drops 98% but some say this is an attack on an unknown party but this is a fact they can't maintain at the same time a stable coin, namely UST.
Some say their foundation will sell bitcoin and recover the price slowly. Will this convince investors again? It seems difficult that many have been disappointed with this coin, but for it there is none in my portfolio.

Yeah, everyone is now thinking that they've rug pulled. They've sold their bitcoins and that's why the market has quickly going down. I don't think everyone is confident with them anymore and as much as possible, as an investment, they're avoiding it.
But for traders who can still scalp from them, they will stay and as long as they're profiting from it, they will continue to do it.

diffract

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You know what's scary?
TRON and ADA are working on new algorithmic stable coins. Previously we had one and look what it's done, what will happen if we have double trouble? These new projects will have a serious reputation to build up, and whoever attacked UST won't sleep on new algo stables.

livingfree

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Quote from: livingfree on May 12, 2022, 01:08:30 AM

This Terra and UST fiasco.

This truly have brought the market down as start but they're not just the whole reason why the market is down. But also there are too many reasons that have been compiled altogether so the impact is totally huge.

Just think of this time that we've officially entered the bear market and you need to be more patient at this time and you should make your plans on what actions you'll do.

it's not just a bear market that caused almost all coin prices to fall but now the price of LUNA has fallen unnaturally, in 2 days the price of LUNA has fallen so deeply even now the price of LUNA coins is under $1. I think this will be a disaster for them. we don't know what the developers did as if they didn't care about the coin anymore so it could fall that deep.

It's now under $1.

That's a total disaster and devastation for those holders that have their money mainly being held on Luna and UST. I saw a tweet from KSI that his $2.8M gone down to $1k.

That's a really sad turn down for him despite him being a lot of money, I can see how much losses he has got with it and for sure the frustration those ordinary people that have mainly invested on it.

Marvelman

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Quote from: adaseb on May 11, 2022, 10:25:42 PM

So far they are minting crazy amounts of Luna and people are taking advantage by buying UST and getting $1 worth of Luna and then selling that to repeat the process.

The supply is growing like crazy however and this will see single digit in the cents pretty soon. When Luna value is Very low then buying UST won’t make sense anymore since they only mint like 1,000,000 per minute.

I mean, really. There must have been some smart people out there who could have predicted this. What were they thinking? The price of LUNA is now less than half a cent on most exchanges. I think they will push it to zero before UST returns to $1. This is so bad for all holders, and also, for the whole market as well.

$crypto$

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Quote from: coco23 on May 12, 2022, 07:22:08 AM

Quote from: $crypto$ on May 12, 2022, 06:37:04 AM

Terra Luna's bad image is bad, many investors think this will come out as scamers where the price drops 98% but some say this is an attack on an unknown party but this is a fact they can't maintain at the same time a stable coin, namely UST.
Some say their foundation will sell bitcoin and recover the price slowly. Will this convince investors again? It seems difficult that many have been disappointed with this coin, but for it there is none in my portfolio.

Have they not sold all of their BTC reserves already? I think it is safe to say that their mechanism has failed , regardless of whether they are able to stabilize this situation or not. They are trying things to stabilize it (https://twitter.com/terra_money/status/1524665456476712961), but I think it's too little and too late, now they would have to come with some truly drastic measures.
LUNA won't recover to old prices as it's inflation is already way too high.

I don't know about when they will sell BTC to stabilize this but for sure this concern will not change anything, indeed I think it's the same about their mechanism has failed, until the price fell to pieces, but I see the price of TerraUSD (UST) has increased 37% at the current price of $0.62 that's also still not enough to stabilize anything but with the increase in TerraUSD the foundation seems to be doing it.

Now that my friend is getting stressed after seeing Luna's price, she looks suicidal.

coco23

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Quote from: $crypto$ on May 12, 2022, 06:37:04 AM

Terra Luna's bad image is bad, many investors think this will come out as scamers where the price drops 98% but some say this is an attack on an unknown party but this is a fact they can't maintain at the same time a stable coin, namely UST.
Some say their foundation will sell bitcoin and recover the price slowly. Will this convince investors again? It seems difficult that many have been disappointed with this coin, but for it there is none in my portfolio.

Have they not sold all of their BTC reserves already? I think it is safe to say that their mechanism has failed , regardless of whether they are able to stabilize this situation or not. They are trying things to stabilize it (https://twitter.com/terra_money/status/1524665456476712961), but I think it's too little and too late, now they would have to come with some truly drastic measures.
LUNA won't recover to old prices as it's inflation is already way too high.

$crypto$

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Quote from: blockman on May 12, 2022, 05:47:14 AM

Quote from: blockman on May 12, 2022, 05:47:14 AM

Now the price is under half a dollar with a decline that will still occur and even some people have also assumed that Luna will die within this year and if it doesn't die, then another big increase could happen to Luna with potential that will continue to grow in the future.

UST is $0.4
Terra is out now of top 100 and priced at $0.06 and it was lower a few hours ago and, is now in ranked 128. That's totally a massive lost for these two projects.
The foundation is losing a lot and people are now starting to say that this is like bitconnect 2.0. I still don't know if that's how it's going but everyone is looking at it every single minute.

Terra Luna's bad image is bad, many investors think this will come out as scamers where the price drops 98% but some say this is an attack on an unknown party but this is a fact they can't maintain at the same time a stable coin, namely UST.
Some say their foundation will sell bitcoin and recover the price slowly. Will this convince investors again? It seems difficult that many have been disappointed with this coin, but for it there is none in my portfolio.

coco23

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Now the price is under half a dollar with a decline that will still occur and even some people have also assumed that Luna will die within this year and if it doesn't die, then another big increase could happen to Luna with potential that will continue to grow in the future.

UST is $0.4
Terra is out now of top 100 and priced at $0.06 and it was lower a few hours ago and, is now in ranked 128. That's totally a massive lost for these two projects.
The foundation is losing a lot and people are now starting to say that this is like bitconnect 2.0. I still don't know if that's how it's going but everyone is looking at it every single minute.

If I still had any UST or LUNA I would just dump them. Currently they try to stabilize UST by "printing" LUNA, which is why the UST price is still relatively stable but LUNA is going down massively. At some point the LUNA marketcap and markets are so small, that this won't be enough anymore, this will be when UST will also go down massively.
Terra should announce a "haircut" on UST, making it $0.2 or so, to stabilize the situation.
(No investment adivce, do you own research)

blockman

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Quote from: strunberg on May 12, 2022, 03:12:46 AM

Now the price is under half a dollar with a decline that will still occur and even some people have also assumed that Luna will die within this year and if it doesn't die, then another big increase could happen to Luna with potential that will continue to grow in the future.

UST is $0.4
Terra is out now of top 100 and priced at $0.06 and it was lower a few hours ago and, is now in ranked 128. That's totally a massive lost for these two projects.
The foundation is losing a lot and people are now starting to say that this is like bitconnect 2.0. I still don't know if that's how it's going but everyone is looking at it every single minute.

ice18

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This is the risk in crypto currency especially the so called algorithmic stablecoins like UST looks like they did not anticipate this one or they are still in experiment but I really hope they can still recover from this massive price crash in just 3 days, I personally bought LUNA at $16 but good thing I only spend small amount just to try, am going to hold it and see what will happens next.

sayaya17

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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

no more people will trust to LUNA , today Luna hit new low again and no buying pressure in this coin. Its become nothing now for Luna and UST , most crypto traders now short Luna till to earth not only moon again. we become witness how dark this Luna rugpull and UST, alot investors become poor man due holding Luna which is recognized as best projects.

I am also very surprised by LUNA's performance, you are right now that LUNA has lost the trust of many investors. After the drastic drop in LUNA prices,
make the demand for LUNA decrease drastically, and LUNA could be a scam project. Even though I am among those who judge LUNA as a good project
and I think LUNA can promise big profits in the future. But my guess was wrong, LUNA experienced a decline of up to 98%, and such a large decline
made LUNA's reputation bad. We can also see that many investors have suffered losses due to the decline in LUNA. I think LUNA has no future with
the current downturn.

turbo_trader0101

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Focus on quality projects further on...
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southerngentuk

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Quote from: xmonkeyx on May 12, 2022, 02:12:30 AM

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?

The war of the super rich is upon us and we are affected, I also don't have much investment in the Luna Terra ecosystem, but honestly witnessing the drama stories these days, I find it very funny to the market this. Perhaps the past mistakes will be a great lesson for the hype and FOMO following the crowd. Hopefully they will not lose momentum in the market. I still think this trick will be even worse in this space next time. Not only Terra, but many other names will also suffer from similar situations like this.

Maestro75

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I wanted to start a thread on Luna before I saw someone has already started it. We expect Luna holders to be feeling very bad now. The coin has fallen badly within two days and that is crazy. Its current price now is $0.07 from over $110 a month ago and it can still fall more before the end of today. Luna is a good project for me and I hope those who also trust it should not panic about what is happening to it now. They can instead buy more at its crashed price.

Lantind

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it's not just a bear market that caused almost all coin prices to fall but now the price of LUNA has fallen unnaturally, in 2 days the price of LUNA has fallen so deeply even now the price of LUNA coins is under $1. I think this will be a disaster for them. we don't know what the developers did as if they didn't care about the coin anymore so it could fall that deep.

Now the price is under half a dollar with a decline that will still occur and even some people have also assumed that Luna will die within this year and if it doesn't die, then another big increase could happen to Luna with potential that will continue to grow in the future.

strunberg

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Quote from: livingfree on May 12, 2022, 01:08:30 AM

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

no more people will trust to LUNA , today Luna hit new low again and no buying pressure in this coin. Its become nothing now for Luna and UST , most crypto traders now short Luna till to earth not only moon again. we become witness how dark this Luna rugpull and UST, alot investors become poor man due holding Luna which is recognized as best projects.

xmonkeyx

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This Terra and UST fiasco.

This truly have brought the market down as start but they're not just the whole reason why the market is down. But also there are too many reasons that have been compiled altogether so the impact is totally huge.

Just think of this time that we've officially entered the bear market and you need to be more patient at this time and you should make your plans on what actions you'll do.

it's not just a bear market that caused almost all coin prices to fall but now the price of LUNA has fallen unnaturally, in 2 days the price of LUNA has fallen so deeply even now the price of LUNA coins is under $1. I think this will be a disaster for them. we don't know what the developers did as if they didn't care about the coin anymore so it could fall that deep.

livingfree

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This Terra and UST fiasco.

This truly have brought the market down as start but they're not just the whole reason why the market is down. But also there are too many reasons that have been compiled altogether so the impact is totally huge.

Just think of this time that we've officially entered the bear market and you need to be more patient at this time and you should make your plans on what actions you'll do.

South Park

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Quote from: TheClownSong on May 11, 2022, 06:45:59 PM

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?

It is a combination of factors, to begin with the market was bearish and the price has gone down for some time, then luna has crashed more than 99% in a single week, since it was a popular coin and many people were losing a lot of money then I think it is to be expected that this had a tremendous effect on the market, as this gave more ammunition to those that argue that this market is just a big scam, so it is easy to see how this has scared away a great deal of investors that were here only for the money and nothing more.

adaseb

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So far they are minting crazy amounts of Luna and people are taking advantage by buying UST and getting $1 worth of Luna and then selling that to repeat the process.

The supply is growing like crazy however and this will see single digit in the cents pretty soon. When Luna value is Very low then buying UST won’t make sense anymore since they only mint like 1,000,000 per minute.

rugrats

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Quote from: Tony116 on May 11, 2022, 06:48:25 PM

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.

Yes, investing in topcoins does not always save us from risk and bring a profit, Luna is a wake-up call for all of us.
Always do your research before investing, investing is risky don't put all your money in one coin and invest with the amount you are willing to lose.
I think this is the end for Luna and a lesson for projects that are looking to create their own stable coins.

Farma

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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.

OgNasty

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Quote from: popeye95 on May 11, 2022, 12:37:00 PM

Terra and Luna can keep minting but they will never resolve their problem.

Do know decided to increase the supply of Luna to rescue the UST, but this also did not solve the problem. UST is backed by Bitcoin and Luna but Bitcoin was sold out yesterday to support UST but it failed. About Luna I think it really died when the investor's confidence was lost, the increase in supply couldn't help Luna recover to save UST.

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.

Tony116

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Quote from: popeye95 on May 11, 2022, 12:37:00 PM

Terra and Luna can keep minting but they will never resolve their problem.

Do know decided to increase the supply of Luna to rescue the UST, but this also did not solve the problem. UST is backed by Bitcoin and Luna but Bitcoin was sold out yesterday to support UST but it failed. About Luna I think it really died when the investor's confidence was lost, the increase in supply couldn't help Luna recover to save UST.

TheClownSong

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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?

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.

BitcoinPanther

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Quote from: https://www.cnbc.com/2022/05/11/terra-ust-stablecoin-dives-below-1-peg-luna-cryptocurrency-down-80percent.html

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 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.

ninis45

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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

carlfebz2

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Quote from: Marvelman on May 11, 2022, 02:05:21 PM

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.

Marvelman

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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?

mindrust

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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?

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.

popeye95

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Quote from: asriloni on May 10, 2022, 07:13:31 AM

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.

X-ray

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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

thecryptosleeper

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Quote from: Cryptoababe on May 10, 2022, 01:55:47 AM

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 ...

asriloni

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Quote from: Cryptoababe on May 10, 2022, 01:55:47 AM

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.

Ararbermas

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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..

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Quote from: Cryptoababe on May 10, 2022, 01:55:47 AM

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?

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.

kotajikikox

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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 .
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 .

Cryptoababe

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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.

Coin_trader

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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?

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.

shinratensei_

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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.

batang_bitcoin

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Quote from: o48o on May 09, 2022, 04:47:35 PM

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.

Ezravdb

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Yes, UST can collapse but i doubt that it would bring everything down. It would just affect some coins. USDT has been suspected not to hold as well but as they have insanely well backed up it with real world value, it won't crash.

Although there is a little suspicion on USDT, but until now there are still very many people who use USDT
because the stablecoin is still very good and almost everyone still believes in USDT than UST you mean it.

TastyChillySauce00

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Quote from: keyscore44 on May 09, 2022, 04:39:10 PM

I think that the Luna treasury alone is not able to make the entire cryptocurrency market drop so drastically.

Imagine you are shorting 50k bitcoin to the market. that's enough to create very big pressure to the market like this time. Terra luna keeps selling their bitcoin for UST but again market will decide whether they will trust UST again or not.
A wallet with 10 millions UST already lost a lot for did nothing. this is a big shame for this foundation.

Quote from: keyscore44 on May 09, 2022, 04:39:10 PM

However, the financial security of Luna that you write about seems to me very unstable and in my opinion this may be one of the reasons why this project may be in danger of collapse.

Only stupid developers will introduce stable token in valued pegged with fiat money but it's not using fiat money as a way to make it stable or backed it. How dumb these developers are. If bitcoin will be dropping so hard and that will be the end for the foundation

lornadane

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Quote from: JeffBrad12 on May 09, 2022, 06:42:28 PM

Yeah that's why algoritmic solution will not always work to be implemented in any situation. Sometime people must have realized it. Luna is putting its platform into another disaster. It's better to back it with the dollar and keep the value of bitcoin. This time it may sell some its bitcoin like what already done by microstrategy when this company is silently selling its bitcoin reserved funds to the market. That's a bit surprised to see that but this is the reality. Luna may collapse due to a poo mechanism that used by its ust stable token.

Yes what you say is true, maybe Tera Luna is currently very heavy with the dirt of other stablecoins.
So that there is a price sentiment right now but we don't have to worry about the current price decline because we also know that using a decentralized public blockchain platform for stablecoins is algorithmic and monitors asset prices, of course they are able to maintain their right price with a set of rules or software rather than underlying assets.

JeffBrad12

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Yeah that's why algoritmic solution will not always work to be implemented in any situation. Sometime people must have realized it. Luna is putting its platform into another disaster. It's better to back it with the dollar and keep the value of bitcoin. This time it may sell some its bitcoin like what already done by microstrategy when this company is silently selling its bitcoin reserved funds to the market. That's a bit surprised to see that but this is the reality. Luna may collapse due to a poo mechanism that used by its ust stable token.

Duzter

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Quote from: GreatArkansas on May 09, 2022, 06:23:54 PM

If you will see other non-crypto markets like stock markets, they are also bleeding so for me it's normal this time and Luna is nothing to do about it.
Luna experiencing some problems now, if you take a look at their UST now that is trading below 0.9 USDT, a very huge problem, started to fail about peg to $1.
But I believe this is just temporary, the team behind Terra Luna is hard working and for sure they will fix it.

Terra Luna isn't the only issue to bring the market down. According to me it is the time in which the market is supposed to have a bear market. The increase in the interest rates to keep control of the inflation is a major reason connected with the market crash. As said this isn't happening with cryptocurrency market. Almost every market is down and the increase of interest rates weren't happening only in the USA, everywhere similar situation prevails. In my country the value against dollar have gone high in history.

GreatArkansas

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If you will see other non-crypto markets like stock markets, they are also bleeding so for me it's normal this time and Luna is nothing to do about it.
Luna experiencing some problems now, if you take a look at their UST now that is trading below 0.9 USDT, a very huge problem, started to fail about peg to $1.
But I believe this is just temporary, the team behind Terra Luna is hard working and for sure they will fix it.

keyscore44

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Quote from: Menawi12 on May 09, 2022, 05:54:08 PM

Quote from: strunberg on May 09, 2022, 05:32:49 PM

Quote from: strunberg on May 09, 2022, 05:32:49 PM

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?

looks like they start selling bitcoin to buy ust, recently UST price down to 0,83 and it is not be stable coin anymore with its value. i am agree luna foundation now breaking crypto market with their algorithm . bitcoin would not be stable and keep cracking down due it usage by luna.i heard in twitter their bitcoin move from wallet and we dont know what will happen next with this tranfer.

based on whales tracker it true there is bitcoin tranfer above 40k bitcoin to centralized exchange, if its true from luna foundation guard maybe it will dumped for buying ust which is failed to pegged $1. even ust price drop tp 0,84 recently and with this condition LFG has possibility to dumpbitcoin and back ust.

If this is true and luna is selling its security fund, then the structure of this project is not bear market immune. It looks like this project was simply poorly constructed and poorly secured. If the price of Bitcoin continues to fall, Luna may completely collapsed.

Menawi12

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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?

looks like they start selling bitcoin to buy ust, recently UST price down to 0,83 and it is not be stable coin anymore with its value. i am agree luna foundation now breaking crypto market with their algorithm . bitcoin would not be stable and keep cracking down due it usage by luna.i heard in twitter their bitcoin move from wallet and we dont know what will happen next with this tranfer.

based on whales tracker it true there is bitcoin tranfer above 40k bitcoin to centralized exchange, if its true from luna foundation guard maybe it will dumped for buying ust which is failed to pegged $1. even ust price drop tp 0,84 recently and with this condition LFG has possibility to dumpbitcoin and back ust.

strunberg

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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?

looks like they start selling bitcoin to buy ust, recently UST price down to 0,83 and it is not be stable coin anymore with its value. i am agree luna foundation now breaking crypto market with their algorithm . bitcoin would not be stable and keep cracking down due it usage by luna.i heard in twitter their bitcoin move from wallet and we dont know what will happen next with this tranfer.

o48o

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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?

Yes, UST can collapse but i doubt that it would bring everything down. It would just affect some coins. USDT has been suspected not to hold as well but as they have insanely well backed up it with real world value, it won't crash.

keyscore44

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