Got Rekt? so did I and everyone else and need to thank all those corporate mainstream investors, when they have billions of money to throw around and no regulations it is the mum and dad and retail investors that get hurt the most.
Let's be honest, none of us have the amount of cash laying around that can orchestrate or cause such a crash, it was brought on by US Fed reserve hinting at interest rate increases. Not such a big deal for retail investors but these corporate entities that are registered to operate in financial markets have been concerns a head.
They're able to borrow and leverage that debt to play in the crypto market so an interest rate hike means damage so they need to sell their liabilities and pay down debt. Because there is no regulations in the crypto market or anything to secure and back the price of their assets BOOM! the whole thing implodes.
Crypto isn't the only thing that has crashed where corporate investors are involved and if you haven't noticed crypto these days is more aligned with the stock market than ever before. The Dow Jones is also down as at time of writing.
This is a clear indication that the same players are influencing both markets and while they are both down due to these players chances are they will also bounce back over time due to the same players.
UST and Luna is currently one of those companies that are too big to fail and I say company because TerraForm Labs is a registered company in South Korea and has significant backing from mainstream investors and people.
It has continued to grow quite rapidly in my opinion and maybe a little too fast but it has been achieving significant milestones. UST is becoming wide spread across the blockchain and mainstream world with the ability to make purchases in the real world with it.
Unlike many of the other blockchain hopeful chains Luna has a use case but has suffered significant FUD. Luna's current market crash isn't out of the ordinary as everything is crashing and while the LFG Bitcoin fund brought UST back to peg for a period of time, a lot more people are dumping.
Despite this Do Kwon has announced that there is a recovery plan in the works and will be announced shortly.
I wish I got in early, I wish I got in low, I wish, I wish, I wish. These words are far from the truth as many people always say this but the truth is, they wouldn't.
In the 2020 market crash Bitcoin dropped to below $US10,000 and people exited in droves while others bought up more Bitcoin. Even Ethereum dropped below $US100.
We have already seen the might of Luna and what an algorithmic stable coin can achieve with an all time high of $US120. Which shows that the growth of UST directly benefits Luna.
Image Source Terra Station Wallet
As we can see, others are fully aware of the potential of Luna and while the token was diving now people are aping back into Luna and transaction volumes are flying through the roof.
In my previous post Luna Pulse Check which I am awaiting an update the majority of Terra Station Wallets held less than 200 Luna.
Now that many have seen the potential of Luna and UST I think that once the recovery commences we will see those stats change with many people now picking up massively discounted Luna.
These are interesting times and if this is your first dip you're probably freaking out but if you're like the rest of us and this is your 99th dip, then you're probably feeling a little down and then there are those absolute freaks who start pumping more cash in to grow their HODL once things return to normal.
What are your thoughts on Luna? Do you think it will make a full recovery and are you picking up cheap Luna and unpegged UST?
Image sources provided supplemented by Canva Pro. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.
