Topic: Terra USD, proved its not a stablecoin - page 3. (Read 803 times)
Such a depreciation of the stablecoin is a blow to the credibility of the entire cryptocurrency market, regardless of how this story ends. And this will definitely be used by regulators to tighten the regulation of the market and, first of all, of stablecoins.
Up to this point, it seems that there is no return, Terra has failed, while conducting any kind of purchase is currently considered a gamble. Do Kwon made two tweets about a future plan in order to save UST, but no details. Hours later, he made another tweet, mentioning to stay strong, but still no details about how UST would be saved. If there was an actual plan, he would have shared the details in an attempt to resolve the tension between Investors.
Honestly, I'm pretty certain that this is the end, my condolences to anyone who lost money during this incident, myself included unfortunately. Stay strong.
Honestly, I'm pretty certain that this is the end, my condolences to anyone who lost money during this incident, myself included unfortunately. Stay strong.
UST, together with Terra(Luna) both are dropping.
It's actually giving me some chills if I should buy Luna at this time because it's down to $4-$5. The ATH was $116 and that's afar price from what it is right now and it's all due to the UST thing.
UST is now $0.3 and I don't think that the Terra team will be able to get it back and pegged it again to a dollar. A lot of uncertainty that the market has right now so, I think I won't catch falling knives.
It's actually giving me some chills if I should buy Luna at this time because it's down to $4-$5. The ATH was $116 and that's afar price from what it is right now and it's all due to the UST thing.
UST is now $0.3 and I don't think that the Terra team will be able to get it back and pegged it again to a dollar. A lot of uncertainty that the market has right now so, I think I won't catch falling knives.
UST barely touch 40 cents and Luna is at 5.5$, oh boy! I think this is not going to end well. I don't see their so-called algorithmic not-so-stable token will restore its reputation anyways.
Looking at today's price of LUNA at $5, I really want to average out and buy more, but this is very dangerous, since the price can drop much lower. The Terra project does not have enough funds to properly support the value of UST and therefore we may see LUNA even cheaper than 50 cents. This is a very bad situation for the entire crypto market.
Luna under 5 dollar and UST only available at 0.3 dollars. Some people suggests that situation will recover a bit so it is best to buy these coins now and gain short term profit ?
What do you suggest on this ? I sit safe to buy these two coins when they are available at dust prices.
What do you suggest on this ? I sit safe to buy these two coins when they are available at dust prices.
It's still continuing to fall 
It's funny that these have been forewarned and UST's assurances in this space. I've also heard a lot about how they secure BTC. It's like any other ponzi scheme, and when BTC drops and the sell-off happens, these things will be like a balloon. But these days I've seen many people lose a lot of assets with Luna, I feel so sorry for them as well as I can't help myself. I'm happy about the profits that have passed, but now accept the reality the market is full of risks.
It's funny that these have been forewarned and UST's assurances in this space. I've also heard a lot about how they secure BTC. It's like any other ponzi scheme, and when BTC drops and the sell-off happens, these things will be like a balloon. But these days I've seen many people lose a lot of assets with Luna, I feel so sorry for them as well as I can't help myself. I'm happy about the profits that have passed, but now accept the reality the market is full of risks.
UST barely touch 40 cents and Luna is at 5.5$, oh boy! I think this is not going to end well. I don't see their so-called algorithmic not-so-stable token will restore its reputation anyways.
On some forums like Reddit, I see that people are having thought about suicide. Alas, must be hard for all the token and coin holder/stakers. Some say that the depeg are coordinated by some attackers, but don't know much about it. But the things that it promises as an algorithmic stable coin shouldn't make anyone's trading strategies move perceived as an attack.
On some forums like Reddit, I see that people are having thought about suicide. Alas, must be hard for all the token and coin holder/stakers. Some say that the depeg are coordinated by some attackers, but don't know much about it. But the things that it promises as an algorithmic stable coin shouldn't make anyone's trading strategies move perceived as an attack.
Wow finally the real face of terra luna already exposed. So many people are blaming this company even the active chart on CMC have so many people called this as another ponzi scheme. more than 51% dump and the worst thing that i have ever seen these days. People are starting to disbelief with this company and yeah welcome to the top 100 CMC soon. I believe this will become another medium tier of exchange site. Only using bitcoin as a way to back the stable token. worst thing
The price is slowly stabilizing itself, however such a variation in the price is something we could expect of any coin except stable coins, if the stable coin is also going to experiment huge drops in its price while providing none of the benefits like going up in value then there is no reason to keep holding that stable coin at all as it is not fulfilling its purpose.I wonder how is buying TerraUSD at the moment? After all if I saw such crash I will keep away from such a stable coin as I would immediately think that there was some fundamental reason for its price to go so low.
they offer that 20% yield for holding UST which is very attractive that's why investors mint the stablecoin, now it seems that this stablecoin wiggles too much. it makes sense to hold more if you want to get that much profit in just holding.
but there were other stablecoin like USDN that also offers close to this apy that didn't really drop to $0.70. this team is corrupt.
but there were other stablecoin like USDN that also offers close to this apy that didn't really drop to $0.70. this team is corrupt.
this is the thing with any stablecoins that has the same model like Terra USD. it’s just not sustaining, even the slightest market movement like the current bearish that could cause market disturbance already puts these stablecoins in such a bad state because lacking the liquidity that it should have reserved.
well they should have reserved double the amount of the current reserved liquidity needed for overcoming this hurdle otherwise their valuation will just decrease as the masses has finally lost its trust against all these algorithmic stablecoins.
well they should have reserved double the amount of the current reserved liquidity needed for overcoming this hurdle otherwise their valuation will just decrease as the masses has finally lost its trust against all these algorithmic stablecoins.
Honestly, I didn't have much interest in Terra. I felt it was overhyped. Some quarters even said its going to flippen Ethereum. How? Not gonna happen anytime soon. Maybe after Buterin is dead. Lets see how it pans out
Terra luna was different case. This company is having billions have gone due to the market dump and this company needs to find more money to backed its UST. I see that issued the new loan but that's not enough to backed the UST.
This company was too greedy to compete with the major stable token maker like tether or something else that fully backed by big company like paxos.
End for terra luna is coming very close for us
Extremely drop with Terra UST as stable coin but right now not only with UST but also Luna coin have drop almost 60% and touch under $15, I don't see any good future investing with Terra coins and prefer out if you still hold Terra coin or UST. I don't know what happen with developer and what have did make Luna, UST coin drop drastically. Actually most funny with UST as stable coins but can drop until $0.6 and can't reach to $1 like other stable coin. Have to ask and waiting Terra developer what happen with their coin and why could drop drastically and UST as stable coin looks as shit coin.
The price that was 0.67$ have now crossed $0.76 which is good recovery. The team have given proper detail on this case and has been working to make the market stabilize. Stablecoins were the safe haven when the market is downwards. It was the first attempt by a team to make the dollar peg through a algorithmic process. Anyhow the team will bring back the price to $1, and many will be investing now for assured return.
Still, its future is extremely vague, it will lose its status. I'm honestly devastated, because I actually sold my UST, which I had unstaked. Personally, making any kind of move looks too much of a gamble to me. I'm just wondering where they'd get the funds to peg UST to $1 again, when Luna's market cap is half of UST's.
Honestly, I didn't have much interest in Terra. I felt it was overhyped. Some quarters even said its going to flippen Ethereum. How? Not gonna happen anytime soon. Maybe after Buterin is dead. Lets see how it pans out
The price that was 0.67$ have now crossed $0.76 which is good recovery. The team have given proper detail on this case and has been working to make the market stabilize. Stablecoins were the safe haven when the market is downwards. It was the first attempt by a team to make the dollar peg through a algorithmic process. Anyhow the team will bring back the price to $1, and many will be investing now for assured return.
I think when UST drop until 0.6$ can't called again with stable coin because not have meaning and function as stable coin for UST with Luna network.
USDT also fell because of the FUD news factor due to spam chain messages sent via email, I don't associate with UST even though both coins are stable but both are stable experiencing the same thing falling from the price of $1.if btc and luna keeps on dumping, the stablecoin wont hold.
this is big scarry thing we will face at this moment, alot holder selling their assets to prevent more dump that caused by UST. 
I think now the main problem are two things.
1- How many BTC or USD or whatever Terra have to keep the price and comeback to 1.
2- How many trading boys are now seeing the route and dumping more the price to make the profit when they come back 1 usd.
And with this point 2 we come back to point 1.... because if a lot of people come to make that movement in some time maybe they dont have more backrest and...... all traders and Luna go down the pipe.
1- How many BTC or USD or whatever Terra have to keep the price and comeback to 1.
2- How many trading boys are now seeing the route and dumping more the price to make the profit when they come back 1 usd.
And with this point 2 we come back to point 1.... because if a lot of people come to make that movement in some time maybe they dont have more backrest and...... all traders and Luna go down the pipe.
if the value has been down for quite sometime I could guess that most of us has lost trust in this stablecoin because this stablecoin isn’t exactly stable after all.
if you hold any terra USD i guess the best course of action is to wait it out, after all maybe the team behind are trying hard in fixing this and maybe increase their liquidity for this stablecoin
it seems it was caused by the massive correction that we get from btc and all the major coins
if you hold any terra USD i guess the best course of action is to wait it out, after all maybe the team behind are trying hard in fixing this and maybe increase their liquidity for this stablecoin
it seems it was caused by the massive correction that we get from btc and all the major coins
Jerry, I think exactly like you, it's both idiotic fear and exaggeration.
If you don't have to use it at that moment, why cry so much?
assuming it returns to 1.
And I repeat those who bought at 0.7 and went to 0.9 is a lot of profit, how many BTC did Luna sell to be able to bank the price?
If you don't have to use it at that moment, why cry so much?
assuming it returns to 1.
And I repeat those who bought at 0.7 and went to 0.9 is a lot of profit, how many BTC did Luna sell to be able to bank the price?
Its not fear or exageration, its a ponzi scheme. This is going to be another titan fiasco.
https://www.coingecko.com/en/coins/terra-luna/usd?chart=7_days#panel
that chart shows something.
if btc and luna keeps on dumping, the stablecoin wont hold.
Jerry, I think exactly like you, it's both idiotic fear and exaggeration.
If you don't have to use it at that moment, why cry so much?
assuming it returns to 1.
And I repeat those who bought at 0.7 and went to 0.9 is a lot of profit, how many BTC did Luna sell to be able to bank the price?
If you don't have to use it at that moment, why cry so much?
assuming it returns to 1.
And I repeat those who bought at 0.7 and went to 0.9 is a lot of profit, how many BTC did Luna sell to be able to bank the price?
People panic for something they fear about its unknown future.
I do agree that if you have no reason to sell, why sell it at a loss?
Better wait for it to go back to its $0.9-1.0 price range, and maybe sell if you are too worried about this market.
For me, there's nothing to panic about because if you can see the volume, it is still one of the largest in the markets.
So they won't be exiting anytime soon. Better wait for it to recover, sell and get out if you don't want a headache.
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