Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Once Popular Coins (Graveyard) => Other Popular Cryptos / Coins => Terra LUNA Forum => Topic started by: admin on May 11, 2022, 06:20:56 PM
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sorry, had to write this topic given that the most popular topic on this subsection is the Rise of Luna ...
well guys we got rekt more than 90% drop ... in shitcoins term, it's a rugpull
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I think this has something to do with UST, I don't hold LUNA coins, but see the UST and LUNA prices go down, then I also think it can be said with rugpull, LUNA prices continue to fall because UST coins are stable, if UST is not backed up by LUNA, and UST is backed up by USD, it is unlikely that the current situation will not happen.
The latest news is, Binance is suspending LUNA trading
https://www.google.com/amp/s/cointelegraph.com/news/breaking-binance-suspends-luna-and-ust-trading-amid-issues-on-terra-blockchain/amp
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Bad management? Greed? Stupidity? Bad planning?... What has happened (and continues to happen) with Luna can be described in many ways, but the first thing that came to mind was Bitconnect. Although the case of Luna and UST is different from what happened with Bitconnect, the result is very similar, many people bankrupt, billions of dollars that nobody finds, and a bad image (again) for cryptocurrencies. I think the point of this is that we cannot trust algorithmic stablecoins, but we can trust the ones we already know (USDT, USDC, BUSD and others).
A word of advice to everyone, USDD is also an algorithmic stablecoin and was publicly launched on May 5th (just 8 days ago). We must be careful.
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bad management and arrogance ... when you have a project with such a high valuation, you are required to get advisors and be careful with each decision.
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I agree with you. In any case, the Luna team is already beginning to have more problems than we knew, according to several people close to the project, nobody knows where the Bitcoins valued at more than 1 billion dollars are. Many investors hope that the money will be used to pay people who have lost their investments. In any case, although as I said all this reminds me of Bitconnect and Mt.Gox, people still don't learn, I can't believe there are people who have lost their life savings or their houses to invest, people don't learn.
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I think this has something to do with UST, I don't hold LUNA coins, but see the UST and LUNA prices go down, then I also think it can be said with rugpull, LUNA prices continue to fall because UST coins are stable, if UST is not backed up by LUNA, and UST is backed up by USD, it is unlikely that the current situation will not happen.
The latest news is, Binance is suspending LUNA trading
https://www.google.com/amp/s/cointelegraph.com/news/breaking-binance-suspends-luna-and-ust-trading-amid-issues-on-terra-blockchain/amp
As you may know, the last suspension of Luna trading on Binance platform has been lifted. Trading has began two days ago on the spot Luna/busd and UST/busd pairs respectively. Trading on Coin( $) M future, margin, is still suspended. Also, Kucoin Trading on spot, margin(cross/isolated) has began. The fall of Luna project was unexpected, I am hopping some good rescue plans should be injected for a come back in near future.
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As you may know, the last suspension of Luna trading on Binance platform has been lifted. Trading has began two days ago on the spot Luna/busd and UST/busd pairs respectively. Trading on Coin( $) M future, margin, is still suspended. Also, Kucoin Trading on spot, margin(cross/isolated) has began. The fall of Luna project was unexpected, I am hopping some good rescue plans should be injected for a come back in near future.
I think the problem is already too big to try to fix it. The CEO has said that he plans to burn down half of LUNA's supply and abandon UST, but I think that won't solve anything anymore. The whales have lost a lot of money, but the ones that have really been affected the most have been the small investors, whales can recover economically, but the small investors cannot. Personally, I think LUNA-UST is definitely dead, I doubt anyone will trust the CEO's words again after what happened.
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It's no surprise this is happening in crypto. no project can guarantee that they will survive, luna is a new project and can even enter the top 10, we must always be careful of all possibilities
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There could be many reasons behind this that Luna dropped by 90%, anything in cryptocurrency is possible and altcoin coins go out of circulation.
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There could be many reasons behind this that Luna dropped by 90%, anything in cryptocurrency is possible and altcoin coins go out of circulation.
It is true that there could have been many things that could have led to LUNA-UST's downfall, but unfortunately there have only been two things. Do Kwon's greed and arrogance, those two things would not have been a problem if the final result had not been the bankruptcy of many investors, of those investors, except for the whales, the rest have definitely lost their funds, since they do not have a great economic capacity.
If you want more information you can read this thread: https://www.altcoinstalks.com/index.php?topic=269811.0
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We don't have more information about LUNA yet, but I'm hoping this is just an incident or the aftermath of a shark attack. If Do Kwon & Terra Labs intentionally scams to take money from investors, the credibility of this market will be seriously damaged.
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dude i lost so much in tera luna and Now I am discouraged i dont think that luna classic will reach 1$ agin
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dude i lost so much in tera luna and Now I am discouraged i dont think that luna classic will reach 1$ agin
I think there are several thousand users in the same situation as you unfortunately. What I will never be able to understand is that Do Kwon was able to launch a new version by "compensating" the affected investors with a few breadcrumbs, but the worst of all, from my point of view, is that the exchanges are complicit in an insult to investors and the entire industry. All of this is a mark that cannot be erased from the history of cryptocurrencies, and that is a problem that the industry will have to continue to move forward with.
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Sadly, it's a dead project with no use case and no team behind it. I'm still holding onto hopium though! I bought a few million coins worth. I don't plan on selling them. Long term gamble in my opinion.
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Sadly, it's a dead project with no use case and no team behind it. I'm still holding onto hopium though! I bought a few million coins worth. I don't plan on selling them. Long term gamble in my opinion.
The worst of all that has happened is that there is a team behind it, it is the team that has made its investors lose billions while they made mountains of money. But as we already know, people don't learn and reinvest in a product launched by the same team that bankrupted them, I find that unbelievable. If in a few months Do Kwon disappears, or is charged and convicted in one of the open court cases, no one should be surprised, would be the price of everything he does.
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Terra luna fraud luna give me big lost about 2k dollar i am so saad i will never invest this company again they will fraud with peoples lot of project leaving terra luna project am not buying coins.
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in my opinion the price of luna dump is because wale made the wale game also made pum but the term rug pull is wrong because luna can still be traded.
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I used to be interested in LUNA but now I never add it to my portfolio. Projects in the Terra ecosystem have also moved to Polygon, BNB chain and other blockchains instead of staying and will fail with LUNA 2.0. LUNA will become a great investment lesson for everyone in this market.
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That happened fee months back bro. I will still suggest you buy lunc, those guys can do something crazy to revive their name
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Some thing big problem terra luna now realy started i think so luna market is pumping and lunna is still bullish its pumping in market upto 120% when they burn there coins it will pump more and more.
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As you may know, the last suspension of Luna trading on Binance platform has been lifted. Trading has began two days ago on the spot Luna/busd and UST/busd pairs respectively. Trading on Coin( $) M future, margin, is still suspended. Also, Kucoin Trading on spot, margin(cross/isolated) has began. The fall of Luna project was unexpected, I am hopping some good rescue plans should be injected for a come back in near future.
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As you may know, the last suspension of Luna trading on Binance platform has been lifted. Trading has began two days ago on the spot Luna/busd and UST/busd pairs respectively. Trading on Coin( $) M future, margin, is still suspended. Also, Kucoin Trading on spot, margin(cross/isolated) has began. The fall of Luna project was unexpected, I am hopping some good rescue plans should be injected for a come back in near future.
Don't tell me that you are expecting Terra Luna Classic to kick the price higher after Do Kwon has an arrest warrant.
It is very difficult to trust the Luna classic now, especially since its resistance in the market is not the same as it was in the past 7 months. I don't know why someone still gambles on this token which I don't understand when there are many other better and potential coins than this one.
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I dont beleave this project any more his ceo to much fraud new coin pump again upto 7$ he cant stable it there again dump it and so i cant beleae on it no more trust every one say that its scam project dont invest in it invest in other good project for good profit.
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Yes, there is no more confidence in the Luna/ust project and I think that this project may not bounce back for a long time because users has suffered huge losses. Luna/ust collapse had greatly affected the market, though the bear run is also part of the market down trends. I hope 2023 will bring a good bounce and put market on bull run.