Topic: RIP LUNA & UST ! Is USDD be same like that.. - page 3. (Read 681 times)
This FUD with UST and LUNA is the main driving force now for other crypto to decline and just by posting this reply the LUNA token is at a dollar below and 30 cents for UST. What could be worst? Just this time Bitcoin hit 29k too, though it's still above the line from the recent low that hits in July of 2021. Oops, is it a bear month or a FUD month?
what happened with UST and LUNA makes everyone afraid to follow DeFi which is based on Stable coins, it would be better if it was USDT or USDC even though they don't promise big returns but at least they are more trustworthy. After hearing about UST, I've also always heard about USDD which has similarities to UST, if my advice is with the incident we should be really careful with coin stability, or better not put a lot of money there.
Probably no one expected such a scam from LUNA. The price is now 1.5 USD, although three days ago it was 80 USD. I haven't seen such a sharp drop since Bitconnect. I understand that the price will continue to fall because the owners decided to print new coins. This is very epic. Now we can conclude that all algorithmic stables are not reliable!
I believe the core team from UST made a fatal mistake making their stable coins completely destroyed even worst they can't recover, it's getting stronger because binance immediately delisted for LUNA and UST. As for USDD, I just saw it, but I don't trust the stability of new coins anymore since the UST incident, it's better to see them grow until many people believe in them, so far there are stable coins that are more certain, even USDT in trx the transaction fees are very cheap .
Oh well, they for sure have learn this lessons, a very expensive one as the price of their stable coins wasn't 'stable' at all because of the massive bank run that happen to them. I also curious as to why there are a massive sell and what triggers it. Because they have reported that they have invested their reserves on bitcoin instead of $, they have to sell at a lost now just to have their stable coins 1:1.
I believe the core team from UST made a fatal mistake making their stable coins completely destroyed even worst they can't recover, it's getting stronger because binance immediately delisted for LUNA and UST. As for USDD, I just saw it, but I don't trust the stability of new coins anymore since the UST incident, it's better to see them grow until many people believe in them, so far there are stable coins that are more certain, even USDT in trx the transaction fees are very cheap .
I doubt when UST returns to 1$ there will still be people who want to hold LUNA. investor confidence has completely disappeared, just imagine in less than one day LUNA crashes to 90%. for top-ranked coins, this is absolutely insane. I personally have no interest in this project. even if the price falls below 1$, I won't buy it.
You are absolutely right. There is 90% chance Luna price can crash to zero but I think Founder & CEO of Luna Foundation Do Kwon is very committed person and he will do all what he can to avoid total failure of Luna foundation, he is already brain storming with his team to figure out a workable solution to restore confidence of investors in Luna. For the time being It is better to sit on the sidelines and don't make any impulsive buying in the market.
...The current crisis is a huge challenge for Luna team. Some supporters of Luna still believe that they still have enough reserves to bring back UST to 1 dollar. let's watch and wait how things shape up in coming days
Without the investment of large capital, the problem with UST will not be solved. Luna Foundation Guard has fully used its BTC, which was supposed to support the value of UST and now, according to their statements, they are looking for $1 billion to support the algorithmic stablecoin Terra USD.
I doubt when UST returns to 1$ there will still be people who want to hold LUNA. investor confidence has completely disappeared, just imagine in less than one day LUNA crashes to 90%. for top-ranked coins, this is absolutely insane. I personally have no interest in this project. even if the price falls below 1$, I won't buy it.
Luna is a role model no doubt and LUNA is the only reason for the Popularity of the Pegged Decentralized stable currency in true words. But Luna showed a massive DIP reason its stable coin pegged with the LUNA lost its value to 77 cents remember that it's due to market fud/panic and heavy transfer of funds so Whatever the reason but due that LUNA made 50% dip estimated. $5B a massive Capital loss in the UST.
If a so called stable coin is not really stable and is fluctuating more than 1 or 2 percent of above or below the currency that it is pegged to it is already bad enough in my opinion because this means if you transfer 10000 $-pegged stable coins to "real" USD then you will lose 200$ if the stablecoin price is only 2% to low. What we are witnessing with UST at the moment though is on a completely different level. The price of UST was at 0,30 a few hours ago. No it's price is back at 0,47 $ at the moment but of course this is still absolutely catastrophic for the whole Terra ecosystem. I can really imagine that this could be the end of Terra.
this is a big case, stablecoin but not really stable. I haven't seen anything like this since my first time investing in crypto. imagine the USD stablecoin falling very deep to 0.3$. this is the most ridiculous thing i've ever seen. this problem is because Do kwon is too sure, the result makes everyone panic. he moved Bitcoin reserves a few days ago. made everyone speculate, its impact of distrust in UST and Luna. Luna and UST are game over, soon this project will die.
When most of people scolding about the LUNA and other altcoin.Few people are looking for the further dump to inverse their money. This is the crypto trading.This is what we facing over couple of year.Most of you not know this fact and scolding the Luna.But it's not a new phenomenon for the cryptosystem.From 2017, many new people became the billionaires and millionaire by investing their money to crytocurrency.
No need to announce the R.I.P status for the Luna and UST.Because the most of the LUNA investors withdrew their funds from the LUNA by two reason.One is due to panic of losing their money for long.Secondly the had cash out from Luna by the money need of the economic situation.So we can't blame the LUNA for this, we need to hold over Luna with some trust.Because in trading trust play the vital role for the success.
Man, LUNA & UST just solidified bear. It kinda sucks but I guess black friday sales.
I really doubt they can recover. Stablecoin runs on trust and that's the one thing they lost the most.
I just hope UST & LUNA disappear from this space. Largest ponzi scheme this year. Didn't even last that long before the shitshow happens.
I really doubt they can recover. Stablecoin runs on trust and that's the one thing they lost the most.
I just hope UST & LUNA disappear from this space. Largest ponzi scheme this year. Didn't even last that long before the shitshow happens.
I can only imagine what it must feel like to have a large portion of your portfolio invested in LUNA. That is unimaginable. LUNA crashed this year, which was a disaster for a project that was supposed to be rock solid. Watching this unfold in real-time is insane. There was a lot of money in Terra/Luna that has now been liquidated. A vulnerable shitcoin has been exposed. It is no longer trusted.
ry dramatic change in the price of luna, which at this time seemed to be touching the bottom again the same as at the opening price, after showing good performance before. lost trust can cause a domino effect, which is the same as what we can see today. is it going to get worse, in a day shows a volume decrease of up to 50%
Now $0.30, how in the world did they get there being stablecoin? LOL
That's one strategy. The trust is broken, however. Even if they solve this de pegging, it tainted this Defi project. Luna will be the hardest to promote and pump up because of its price drowning the well. The chance could be high if its price goes back up to $30-50 or something. This is another blowback to crypto in general.
Some news I heard that there are some large investment funds standing by, calling to save Terra in the market. But honestly, I'm still amazed at how quickly it evaporated. Now its reputation in this space has fallen out of favor and is almost a scam for those who have been and are participating, suffering large losses.
Now $0.30, how in the world did they get there being stablecoin? LOL
Now $0.30, how in the world did they get there being stablecoin? LOL
LUNA is literally hitting $1 before UST does (if it ever does).
No, LUNA is not a role model by any means. Their system was set up to essentially be ponzi-like and that does not benefit anyone.
All the algo stables that are backed by thin air is not unlike fiat currency, although just under the banner of decentralisation. The fact that the peg needs rescuing simply tells me that this is far from being decentralised.
No, LUNA is not a role model by any means. Their system was set up to essentially be ponzi-like and that does not benefit anyone.
All the algo stables that are backed by thin air is not unlike fiat currency, although just under the banner of decentralisation. The fact that the peg needs rescuing simply tells me that this is far from being decentralised.
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