Luna coin and UST by the LFG is the news in the crypto space for the last couple of days. UST got de-pegged and this has caused the crash in the crypto market and which has resulted in a big dip in the crypto portfolio. My portfolio is down by more than 50% and it's even dropping so not sure how much it will reduce in the coming days. No one likes the portfolio to get dropped and it's a very bad feeling indeed. I never expected that my portfolio would be down like this but the reality is that we can not do anything except hold all the assets. The portfolio in red does not mean that we are in a loss unless we don't sell out anything and I am following the same.
UST has recently ‘de-pegged’ to $0.45 from its value of $1. This marked a drop of about 55 percent. Since both UST and LUNA are interlinked, the massive drop in UST value has resulted in LUNA’s overall drop.
This is not the first time and there have been many similar scenarios when the market crashed but this is different and a big one. This price is shocking and truly was never expected that a project can fall like this and this is not all because this has also caused the market crash. If we look at the bigger picture and in a month range then LUNA's price was approx $100 and now it's not even 4 cents.
The Crypto market is highly volatile and at least this situation clearly proves it because now this coin has no value in the market and even exchanges are stopping the margin trade. Maybe in the coming days, we can also see the delisting from exchanges. It's obvious that when the project is not doing well and there are many rumors that it's all planned but difficult to say what is right or wrong. Now I remember the time 2 years back when SEC had filed the case against XRP and that was the time when XRP was falling like this and even got delisted in many US exchanges.
Investing in the Luna project now is not a wise decision however a risky decision can be taken with a low amount. It's like any amount that if we lose then it does not affect us. Also, the earning possibility is not even 1% but if it happens then we can earn big however this is not suggested at all. It's always suggested to invest in a solid project and LUNA was doing well but with UST the kind of APR paid seems to be high. Paying 20% apr on the stable coin is a really big thing and although we have now have it with HBD also but that is a different mechanism.
Thank you so much
Stay Safe
