The last couple of days were extremely insane with the market, just like a storm passing by and it is not yet over. The Luna story is really sad and must have been tragic for many wiping out their complete investments. This is one of the worst kind of crash for any Coin in the history of Cryptos. In April it touched 116$ and now to pennies. It is .001, cannot believe this.
I did not hold any Luna but my hubby did have some in his portfolio, thankfully not anything big. He had bought 50 Luna at 40$, an investment of 2k$ which is now worthless. One of the most insane dump in the history of Cryptos. It has shaken up the whole of Crypto market.
Well we do not know if there is any future left for Luna. But since it has gone down to pennies, I bought $100 worth of Luna, but it just seems to be a failure. Last night I got it at .025 and then it has gone down to .00001, making the value from 100$ to 5$....hahahaha.....such a crazy thing. Today morning I bought another worth just 15$, yes nothing more to invest but just like a gamble I bought this, that even if the price goes up to .10 ever in future it will be good returns and there is a possibility that it can wipe off also completely.
Luna crashed due to its link to terraUSD (UST), a stablecoin which was pegged to the US dollar. UST decoupled from the dollar earlier this week, which sent its price tumbling through the floor. With the high rate of current inflation many are now scared to get into the Crypto market. Looks like the market is going to take a very long time to recover and nothing is happening very soon. The UST price going down to 1/4 value is a very major concern. Stable coins are where we can park our money in-between the transactions and also was looked at one investment option with high interest rate but now this may change the whole game of stable coins as well, as people will be reluctant to get into stable coins.
Will the price of UST recover? Don't know. Currently no one is able to predict anything in the market. This fall has given shivers to the biggest of guys in the market, and small investors will surely withdraw for sometimes unless the confidence does not come back in the market. The people who were just at the brink of getting into the market will surely turn away from this investment for now. BTC has recovered a bit. Stable coins are bleeding. Luna which was on number 8 position is now no where on the charts.
Is Crypto really a gamble......When will we see the Sunshine again.......?
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