We have been hearing about Luna, UST, and LFG for the last couple of days in crypto space and the reason is well known. What has happened recently in the market is not good and it has resulted in a loss in so many portfolios because of this. Luna coin has got delisted in many exchanges however some of the exchanges still have pairs with the Luna coin and allow trade for the coin. I am happy that I was never an investor in the project and this is a good decision for me. I was planning to invest but I did not get time to go through and this caused a delay which went in my favor. No matter what is the situation now but LFG project has gotten so much attention in less time and since UST was offering 20% apr that has brought so much attention from the investors.
- Investment is something that requires a good amount of research and study before we put our money. Although we can't predict the future of the project but still this way we can see if any project is really. UST was called a stable coin on the basis of the algorithm but not everyone is capable to check since this is a technical part and most of the investors are not aware. Getting good hype in the market is not a big thing because if pay-out and returns are on the high side then it's quite obvious that more people will join. No need to believe on the project only on the basis of social media attention and we must check out more about the project. When any project is more than what is offered by the market then it requires even more attention to be paid because this is not usual.
- Another point that we need to consider is diversification and this is a must for everyone. Keeping the portfolio diversified is the basic rule of investment because we never know how things will be in the future and sometimes even a growing project crash for any reason. During this kind of scenario, diversification helps us to minimize the loss and risk as well.
- Keeping a close eye on the project and taking the right decision at the right time is vital. I have seen people who did not sell Luna or UST when the entire project was crashing because of emotions and this is not recommended. Sometimes emotions cost us losses and we should never mix it and those who have sold in the loss were able to recover some amount rather than getting it zero.
I hold most of my crypto holdings in the hive ecosystem which includes, Hive, Leo, SPS, DEC, SPT, and some other tribe tokens and I know that the entire hive ecosystem is growing however I still keep on visiting the status time to time. Sometimes it requires movement as per the market and it can help us to get better returns. Since I am active on the hive so I keep an eye on some others, I try to visit at least once a week to see how things are going.
There is some recovery plan shared by the Luna team and this is why LUNA price has started pumping. Probably many people are trying their luck to make some money or to recover losses but I don't think that this is the right move. This project has lost its reputation and now is not worth spending any money and time on this.
Thank you so much
Stay Safe