Right now I think this is greatly affecting Luna price on exchanges, hours ago luna was trading for 54$ and right now its down to 35$, this is one of the most performing altcoins out there, they need to come up with a good plan or else Luna will go down to zero.
It doesn't look like it's going to go down to zero either because the Luna team itself also knows what to do in a downturn in the market like now because if they don't do anything in the current situation, their product will die in the crypto space. So in general it's clear they have to move to give their well-known product a bit of durability. 
Topic: Terra USD, proved its not a stablecoin - page 5. (Read 803 times)
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This was the issue that brought down Terra Luna's price to something terrible and lost its credibility and trust.
Quote
Reports have emerged that a decentralized finance project called Wonderland is linked with a crypto criminal with ties to one of the industry’s largest scandals.
source: https://www.fxempire.com/news/article/time-tokens-tank-as-defi-project-reveals-ties-with-failed-crypto-exchange-quadriga-880356
We can't blame investors to give up on Terra, of course, we could think it was not safe anymore. It is a need for the team to clarify that issue and even give a solution to it or else it won't recover back and continue to drop more. source: https://www.fxempire.com/news/article/time-tokens-tank-as-defi-project-reveals-ties-with-failed-crypto-exchange-quadriga-880356
I'm also not too surprised to see some stablecoins in the past lose the value they defaulted to, UST has never been something I believe in in this space. Right now we can see dozens of negative stories around it and the whole ecosystem, one of which I think the BTC drop is having bad consequences for the fragile things in the air. this time. And the false promises will soon be exposed. Recently I am also seeing USDD appear 
then the same thing will happen again.
then the same thing will happen again. 
Right now I think this is greatly affecting Luna price on exchanges, hours ago luna was trading for 54$ and right now its down to 35$, this is one of the most performing altcoins out there, they need to come up with a good plan or else Luna will go down to zero.
Luna dropped to $25 many hours ago, it dropped to $23 few hours ago and has never gotten back to $54. But it was trading around that price yesterday. As cryptocurrencies are falling in price, more dawn on Luna that fall most among the coins with high marketcap, the coin is extremely volatile even than other altcoins. There is no way for it to recover at this point.
Expect all other algorithmic stablecoins to follow.
The reason to go for fiat back stable coin, if people see fiat to be a stable currency, then going for fiat backed stable coin is the ight thing to do. Algorithmic stables coin has been disappointing in the past, most of them are unstable coins. Expect all other algorithmic stablecoins to follow.
I believe that this is just temporary. Terra Luna's team already released a statement about this case. A lot of people are worried about this, even me I have some UST but I am still calm. This is also because of the recent dump, for sure they didn't anticipate this but I am positive that they will become stable soon and fix this issue.
There is no way for it to recover at this point.Expect all other algorithmic stablecoins to follow.
All eyes should be on the grey-market miasma that is USDT at this point. It was backed by commercial paper and some cryptocurrency.
Right now I think this is greatly affecting Luna price on exchanges, hours ago luna was trading for 54$ and right now its down to 35$, this is one of the most performing altcoins out there, they need to come up with a good plan or else Luna will go down to zero.
Terra was a scam project. Do known just emptied the bitcoin wallet as this used to back the UST. Remember that if UST unlike another stable token which fully pegged with dollar but UST was a bit different. This is algoritmic stable token that used different mechanism. That's why the price was dumping so hard. Do known has even sold some of his bitcoin to backed this stable token. It was so garbage as fuck.
UST used to drop more than 40%, shortly after that LFG moved 28k2 bitcoin to binance to support and support UST price but this will cause a massive crash to the market. LFG is using all 3 billion USD of bitcoin accumulated previously to save UST. If it fails, Do known will be the cause of a large market crash like in 2018.
this is like a dilemma for him. if he wants to keep UST that means there will be a huge dump for bitcoins. but if he didn't, Luna, UST, and the whole project under him would lose trust. Currently, Luna has fallen very deep compared to other altcoins. and this is going to get really bad after news of luna's backup wallet moving his bitcoins.
I believe that this is just temporary. Terra Luna's team already released a statement about this case. A lot of people are worried about this, even me I have some UST but I am still calm. This is also because of the recent dump, for sure they didn't anticipate this but I am positive that they will become stable soon and fix this issue.
I hope so, lots of people got liquidated for this clown show and media are starting to cover it, this incident will again would let more people cry for more stricter regulation. I really dont like when governments add more regulation.
people walking into those trading things without doing any due diligence towards what they are trading in the first place is their fault. even though we have verifications like KYCs, scammers can use this to steal personal information.
lmao, it's horrible. UST, the so-called USD stable coin roughly dropped by -40%.
Although UST makes its way up right now to $0.92, Binance suspends the withdrawal of Luna and UST. It couldn't be more worse, the reason? well, it is simply because of network "slowness and congestion". Pretty absurd reason, IMO.
See: Withdrawals on Terra (LUNA) Network Temporarily Suspended
Although UST makes its way up right now to $0.92, Binance suspends the withdrawal of Luna and UST. It couldn't be more worse, the reason? well, it is simply because of network "slowness and congestion". Pretty absurd reason, IMO.
See: Withdrawals on Terra (LUNA) Network Temporarily Suspended
I hope so, lots of people got liquidated for this clown show and media are starting to cover it, this incident will again would let more people cry for more stricter regulation. I really dont like when governments add more regulation.
If the added rules will only benefit one-sidedly, then I won't like this either, but if the regulations can have a good effect on everyone, I think that's good, but so far I don't see much benefit from the birth of the new regulations. for everyone. 
Do Kwon, the project's founder, said the move to loan out $750 million of bitcoin shouldn't be seen as LFG trying to exit its BTC position but, rather, increasing the liquidity around the UST peg. LFG will buy more BTC if UST expands from here, which we think is the more likely outcome,"
My question from senior members it's possible for Ust to recover back to 1 usdt price?
My question from senior members it's possible for Ust to recover back to 1 usdt price?
price: $.67 during the time of the post
https://www.coingecko.com/en/coins/terra-usd
Does anyone know why its losing its value? I havent dived into terra because i am not interested on the project. Im glad, I didnt since i think TerraUsd and Terra affect each other.
I think terra will be exposed a project that is just a big ponzi scheme.
I also don't understand why TerraUsd has dropped in price, even though other stablecoins like BUSD, USDT and USDC have always stayed at $1 as usual.https://www.coingecko.com/en/coins/terra-usd
Does anyone know why its losing its value? I havent dived into terra because i am not interested on the project. Im glad, I didnt since i think TerraUsd and Terra affect each other.
I think terra will be exposed a project that is just a big ponzi scheme.
While TerraUsd has experienced a decline like other coins while conceptually TerraUsd is also a stablecoin just as good as the others, but with the current decline, TerraUsd no longer looks like a decent stablecoin.
price: $.67 during the time of the post
https://www.coingecko.com/en/coins/terra-usd
Does anyone know why its losing its value? I havent dived into terra because i am not interested on the project. Im glad, I didnt since i think TerraUsd and Terra affect each other.
I think terra will be exposed a project that is just a big ponzi scheme.
I also don't understand why TerraUsd has dropped in price, even though other stablecoins like BUSD, USDT and USDC have always stayed at $1 as usual.https://www.coingecko.com/en/coins/terra-usd
Does anyone know why its losing its value? I havent dived into terra because i am not interested on the project. Im glad, I didnt since i think TerraUsd and Terra affect each other.
I think terra will be exposed a project that is just a big ponzi scheme.
While TerraUsd has experienced a decline like other coins while conceptually TerraUsd is also a stablecoin just as good as the others, but with the current decline, TerraUsd no longer looks like a decent stablecoin.
I believe that this is just temporary. Terra Luna's team already released a statement about this case. A lot of people are worried about this, even me I have some UST but I am still calm. This is also because of the recent dump, for sure they didn't anticipate this but I am positive that they will become stable soon and fix this issue.
Well obviously they are going to write their positive spin about this. But this was always a possibility with algorithmic stablecoins and people will see that it wasn't the working holy grail believers thought it would be. Imho this could be beyond recovery, and after more and more people abandon the luna-ship, it won't be sailing without any users.
It shouldn't go that low. DAI or the old USDT also decreases its value at some point but it won't be less than 0.95 I have not seen it 0.98 actually. I can't see what the team did to ensure its a stablecoin but when they mint it, Terra's price mooned. In CMC, its now $0.7811 while it ranked at 11th but you can't really consider this a stablecoin. If you did try to hedge using that UST lately, it means you lose money still 
Woke up an hour ago to this mess, I'm truly dumbfounded and never expected that such a thing would happen. I had a decent sum of money on a BUSD - UST vault on Beefy, which for some reason still displays my investment as 1:1. I truly don't know what to believe or to expect anymore, that's what I least expected to happen.
If you check coingecko and Binance its true that its depeg now. Tradimg at 0.77 as of this writing. Me too caught up in the mess with my ust holding but remain calmly as possible. If the ust failed then expect some fear on other stablecoins too that it could happened also to them. Well it happened before, but managed to overcome well we just think positively it would. 
What the heck! I've just looked at it a few hours ago @ $0.95 and then it's more than it was before. Anyway, it's $0.7 right now and yeah, this is a crazy thing that the Terra team has made.
Does anyone know why its losing its value? I havent dived into terra because i am not interested on the project. Im glad, I didnt since i think TerraUsd and Terra affect each other.
It's because of what they did wasn't sustainable. There were many have said that it's going to fall as what the others have said. Their hype for buying bitcoin didn't do good for their own economy.I think terra will be exposed a project that is just a big ponzi scheme.
We'll see, but we have to see if this so called stable coin of theirs will recover. 
And probably this is affecting bitcoin market too, months ago if I'm not mistaken they said that they are going to invest billions in bitcoin, and maybe this is the after effect of it.
Hopefully though they can cover this one, otherwise, they are just running on fractional reserves and actually don't have the money to back it up. And I agree that it really hurt their reputation here and it will be very difficult to recover from such 'negative' rep.
Hopefully though they can cover this one, otherwise, they are just running on fractional reserves and actually don't have the money to back it up. And I agree that it really hurt their reputation here and it will be very difficult to recover from such 'negative' rep.
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
Woke up an hour ago to this mess, I'm truly dumbfounded and never expected that such a thing would happen. I had a decent sum of money on a BUSD - UST vault on Beefy, which for some reason still displays my investment as 1:1. I truly don't know what to believe or to expect anymore, that's what I least expected to happen.
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