Bitcoin Forum

price: $.67 during the time of the post

https://www.coingecko.com/en/coins/terra-usd

Does anyone know why its losing its value? I havent dived into terra because i am not interested on the project. Im glad, I didnt since i think TerraUsd and Terra affect each other.

I think terra will be exposed a project that is just a big ponzi scheme.

Terra was a scam project. Do known just emptied the bitcoin wallet as this used to back the UST. Remember that if UST unlike another stable token which fully pegged with dollar but UST was a bit different. This is algoritmic stable token that used different mechanism. That's why the price was dumping so hard. Do known has even sold some of his bitcoin to backed this stable token. It was so garbage as fuck.

I believe that this is just temporary. Terra Luna's team already released a statement about this case. A lot of people are worried about this, even me I have some UST but I am still calm. This is also because of the recent dump, for sure they didn't anticipate this but I am positive that they will become stable soon and fix this issue.

I hope so, lots of people got liquidated for this clown show and media are starting to cover it, this incident will again would let more people cry for more stricter regulation. I really dont like when governments add more regulation.

Everything is possible in this world. There were cases when scammers successfully run second iteration of the same ponzi.

Supose they come back at the original price.
But... the "TRUST" its completly destroyed in this "run". How can you explain this asides of losing / winning money.
Why they are still losing value? They dont have a secure to cut out all the transaction like in normal wall street when the market its falling a lot they cut the round.
Im not into this coin but seems particular.
And THIS its the more important aside of all the discusion this made like a fire starter a lot, to the came of government with more regulation. Dont cry after if you make bad things.

Yeah and those blindly believers if terra luna still claim that if that will go back again to the $1 but yeah this proves that if terra luna UST is not even worth to be considered as a worthy stable token. Im so bad to see even those UST holders claimed to be stable token has been loosing their money. What a big shame. This foundation can't even build a proper stable token that truly pegged with the dollar value. So, any implementation other than using the real dollar to back the stable token was a big lie.
People are distrusting this foundation and the price of token plunged so hard

UST used to drop more than 40%, shortly after that LFG moved 28k2 bitcoin to binance to support and support UST price but this will cause a massive crash to the market. LFG is using all 3 billion USD of bitcoin accumulated previously to save UST. If it fails, Do known will be the cause of a large market crash like in 2018.

the current price of UST is $0.7, well, it started going up since this thread was created. however, its price development is slow enough to be considered a stable coin. that's why I prefer to use USDT or BUSD which has been used for a long time. however, if this continues, it will certainly create panic, and USDT users can quickly convert their assets into other stable coins. however, I hope that this is fixed soon. Even on social media, many people started writing on their walls about this. this can have a bad impact on the stability of other coins, especially for UST itself

Particularly some inside plays. Bitcoin is having a straigh dump and some big whales dump ust and at the same time short Luna resulting to a massive crash. But Do Kwon already said that a loan of 1.5b to repeg UST is currently deployed. This is like a wave timely on the bitcoin dump. Imagine if bitcoin pump, obviously others will recover too including luna and ust. However knowing stablecoin can be depeg such as this is quite scary. Especially I am taking advantage of their 18 to 19% apy now its down. But I do hope it could recover pretty fast to avoid such panic sell

Woke up an hour ago to this mess, I'm truly dumbfounded and never expected that such a thing would happen. I had a decent sum of money on a BUSD - UST vault on Beefy, which for some reason still displays my investment as 1:1. I truly don't know what to believe or to expect anymore, that's what I least expected to happen.

Wow finally the real face of terra luna already exposed. So many people are blaming this company even the active chart on CMC have so many people called this as another ponzi scheme. more than 51% dump and the worst thing that i have ever seen these days. People are starting to disbelief with this company and yeah welcome to the top 100 CMC soon. I believe this will become another medium  tier of exchange site. Only using bitcoin as a way to back the stable token. worst thing

And probably this is affecting bitcoin market too, months ago if I'm not mistaken they said that they are going to invest billions in bitcoin, and maybe this is the after effect of it.

Hopefully though they can cover this one, otherwise, they are just running on fractional reserves and actually don't have the money to back it up. And I agree that it really hurt their reputation here and it will be very difficult to recover from such 'negative' rep.

What the heck! I've just looked at it a few hours ago @ $0.95 and then it's more than it was before. Anyway, it's $0.7 right now and yeah, this is a crazy thing that the Terra team has made.
It's because of what they did wasn't sustainable. There were many have said that it's going to fall as what the others have said. Their hype for buying bitcoin didn't do good for their own economy.
We'll see, but we have to see if this so called stable coin of theirs will recover.

If you check coingecko and Binance its true that its depeg now. Tradimg at 0.77 as of this writing. Me too caught up in the mess with my ust holding but remain calmly as possible. If the ust failed then expect some fear on other stablecoins too that it could happened also to them. Well it happened before, but managed to overcome well we just think positively it would.

It shouldn't go that low. DAI or the old USDT also decreases its value at some point but it won't be less than 0.95 I have not seen it 0.98 actually. I can't see what the team did to ensure its a stablecoin but when they mint it, Terra's price mooned. In CMC, its now $0.7811 while it ranked at 11th but you can't really consider this a stablecoin. If you did try to hedge using that UST lately, it means you lose money still  ;D

Well obviously they are going to write their positive spin about this. But this was always a possibility with algorithmic stablecoins and people will see that it wasn't the working holy grail believers thought it would be. Imho this could be beyond recovery, and after more and more people abandon the luna-ship, it won't be sailing without any users.

I also don't understand why TerraUsd has dropped in price, even though other stablecoins like BUSD, USDT and USDC have always stayed at $1 as usual.
While TerraUsd has experienced a decline like other coins while conceptually TerraUsd is also a stablecoin just as good as the others, but with the current decline, TerraUsd no longer looks like a decent stablecoin.

https://i.imgur.com/9tat2cK.jpg (https://www.coingecko.com/)

From what I've understood, UST was backed with Luna and Bitcoin (while Luna was practically back with nothing), both volatile assets. Since Bitcoin crashed down to $30.000, they could no longer keep the peg to $1. Please, correct me if I'm wrong, that's what I quickly summarized in all this panic. I believe I got the general idea correctly.

Do Kwon, the project's founder, said the move to loan out $750 million of bitcoin shouldn't be seen as LFG trying to exit its BTC position but, rather, increasing the liquidity around the UST peg. LFG will buy more BTC if UST expands from here, which we think is the more likely outcome,"
My question from senior members it's possible for Ust to recover back to 1 usdt price?

If the added rules will only benefit one-sidedly, then I won't like this either, but if the regulations can have a good effect on everyone, I think that's good, but so far I don't see much benefit from the birth of the new regulations. for everyone.

lmao, it's horrible. UST, the so-called USD stable coin roughly dropped by -40%.

Although UST makes its way up right now to $0.92, Binance suspends the withdrawal of Luna and UST. It couldn't be more worse, the reason? well, it is simply because of network "slowness and congestion". Pretty absurd reason, IMO.

See: Withdrawals on Terra (LUNA) Network Temporarily Suspended (https://www.binance.com/en/support/announcement/dc02bedd65be40f7b10022f26bc06879)

people walking into those trading things without doing any due diligence towards what they are trading in the first place is their fault. even though we have verifications like KYCs, scammers can use this to steal personal information.

this is like a dilemma for him. if he wants to keep UST that means there will be a huge dump for bitcoins. but if he didn't, Luna, UST, and the whole project under him would lose trust. Currently, Luna has fallen very deep compared to other altcoins. and this is going to get really bad after news of luna's backup wallet moving his bitcoins.

Right now I think this is greatly affecting Luna price on exchanges, hours ago luna was trading for 54$ and right now its down to 35$, this is one of the most performing altcoins out there, they need to come up with a good plan or else Luna will go down to zero.

There is no way for it to recover at this point.

Expect all other algorithmic stablecoins to follow.

All eyes should be on the grey-market miasma that is USDT at this point. It was backed by commercial paper and some cryptocurrency.

Luna dropped to $25 many hours ago, it dropped to $23 few hours ago and has never gotten back to $54. But it was trading around that price yesterday. As cryptocurrencies are falling in price, more dawn on Luna that fall most among the coins with high marketcap, the coin is extremely volatile even than other altcoins.

The reason to go for fiat back stable coin, if people see fiat to be a stable currency, then going for fiat backed stable coin is the ight thing to do. Algorithmic stables coin has been disappointing in the past, most of them are unstable coins.

I'm also not too surprised to see some stablecoins in the past lose the value they defaulted to, UST has never been something I believe in in this space. Right now we can see dozens of negative stories around it and the whole ecosystem, one of which I think the BTC drop is having bad consequences for the fragile things in the air. this time. And the false promises will soon be exposed. Recently I am also seeing USDD appear :) then the same thing will happen again.

This was the issue that brought down Terra Luna's price to something terrible and lost its credibility and trust.

We can't blame investors to give up on Terra, of course, we could think it was not safe anymore. It is a need for the team to clarify that issue and even give a solution to it or else it won't recover back and continue to drop more.

It doesn't look like it's going to go down to zero either because the Luna team itself also knows what to do in a downturn in the market like now because if they don't do anything in the current situation, their product will die in the crypto space. So in general it's clear they have to move to give their well-known product a bit of durability.

Yes, this is indeed a temporary price reduction, but it shows the vulnerability of such stablecoins and the insecurity of investors who have decided to keep their money in UST. But it should be assumed that when the value of UST is fully restored, the holders of this stablecoin will decide to replace it with a more stable stablecoin, such as BUSD, which has not yet seen such drawdowns in price.

It's going back again to the 30 and i do believe the price will not change a lot even when the market will be bounce caused by what already said by the company if their stable token fully decentralized was a big lie. Terra luna can't even sustain from the dump. Their stable token was the worst one in the crypto history and i think that people will always call this as the worst history for the stable token in the market.
The stable token issue on terra has been triggering so many problem on it. So many FUD was also coming lol

Lately a lot of the community that talks about UST is a bit strange, they can drop below $1, and in my opinion it really deserves to be called not a stable coin. But we also don't know what the exact cause is, even when a bear market where everyone should be buying coins is stable, why their coins are down. But I think it has something to do with the airdrop they tweeted recently, because it dropped right then and there. maybe they are not as stable as other coins in balancing supply and demand.

I am not invested into Terra myself but i still remember that few weeks ago Terra was pumping pretty hard and overall the performance of this coin was very impressive as it went from below 1 USD to over 100 USD in a hear and a half. I also don't really know how the mechanics behind UST are working but i would guess that if the sell pressure is just to much at a given time the price will drop and of course once it starts dropping people will become nervous and also begin to sell which makes it even worse of course. There was a similar issue with USDN (USD Neutrino from the waves platform) a few weeks ago but now it has stabilized again and i think it will be the same for UST.

This just shows algorithmic stable coins is still an experiment for the founders. It's just unfortunate that this supposedly stable coin caused some panic among investors and it's safe to say they lost money too.

Those three are backed by fiat and other assets unlike UST which relies on algorithmic relationship with LUNA.

They weren't trading, people took a loan in Anchor protocol used terra usd as a collateral, unfortunately for them they didnt think that it would lose its 35% value.

Not as stable coin with UST after dropping as lower price until 0.6$ although right now have reach up above $0.91 but still different with other stable coin like USDT and BUSD. I think unbelievable with UST Luna network because drop as stable coin, bigger change drop today with UST and right now still have the same price with USDT. Will have chance back drop again with UST or back the same values with USDT as stable coin. I think when UST drop until 0.6$ can't called again with stable coin because not have meaning and function as stable coin for UST with Luna network.

You are talking a lot of people losing money but........ How about the people who buy UST in 0.68 and we all know if its a stable coin have to comeback to 1 so in a few hours they can make a 32% in USD.

Take an eye on that because i know people who made this movement. Obviusly it was risky because this can fall more and GG.

I see some posts created by do kwon and im sure that terra luna must have changed its mechanism to use bitcoin into the fiat money. This proves that terra has no power to face the bearish trend when bitcoin must be dumped a lot. terra didn't aware if this foundation is not the only party who has been holding bitcoin. So, anytime bitcoin can be dumped to the bottom and this will be making people feel panic. Look at how so many people blame this company for this

I offer you a very simple explanation of the reasons for the UST dump: https://www.benzinga.com/markets/cryptocurrency/22/05/27098231/terra-luna-crashes-45-as-ust-stablecoin-loses-peg-again - "UST’s token mechanics are set up so that traders can redeem $1 of LUNA for $1 of UST, ensuring that the stablecoin is constantly pegged to the dollar at all times. LUNA’s sharp decline has caused its market cap to fall under that of UST, with traders unable to redeem UST for LUNA in its previous 1:1 parity".

USDT also fell because of the FUD news factor due to spam chain messages sent via email, I don't associate with UST even though both coins are stable but both are stable experiencing the same thing falling from the price of $1.

The main thing here its to know how many money Terra as a company lost in this "run" or maybe win.

How many BTC they have to sold to keep the price 1:1.

They re-buy ton of his token a cheap price?. I dont know how to know that but if it was a balance can be done.

               Although I won't go so far as to say it is a big ponzi scheme since terra is actually trying to do something to fix this plus the fact that btc dropped like hell making luna and ust follow, I cannot assure otherwise as well. Because even with the fact that I am a huge fan of luna(but did not have ust, lol), I definitely cannot trust their ust anymore stabke coins should be somewhat immune to btc crashes but ust dropped like hell along with btc. I might buy a bit though just for speculative profit potential but nothing more than 2% of my capital.

Of course, it going to fall. I've nothing against LUNA, heck I even make some good profit from its system. But the UST peg after LUNA was bound to fall just like this. So much for the decentralization when only stable coins like USDT fare better even if some doubt its ability to back 1:1 with USD. Hope a lot of you learn a lesson about what kind of stable coins WORK when the market is in panic mode.

Look at how garbage this stable token is and as i said that to my friends if UST will fail. This is strong proof if terra luna is not having a proper product for the stable token. They need to sell their bitcoin and i suggest all and covert it into the stable token to make it stable. Terra luna need to do something to save its company from the dump. Just wanna try to watch the new story about stable token.

Confused about this whole situation here.  Haven't many stablecoins dropped below their peg?  What was the big thing about TERRA USD?  Was it because it dropped so much?  The same thing happened with waves and USDN and it dropped similar to TERRA USD and then went back up to 90% + etc.  How come there wasn't that much talk about USDN compared to TERRA USD?



Also, wasn't it pretty obvious that TERRA USD was eventually going to go back to its peg of a dollar?  When i saw it went to 0.70, i thought... isn't it a no brainer to buy TERRA USD because it eventually will get back to at least 0.95 or so?  Someone did mention the upside was you make max 30 percent but you could lose the whole amount.  But isn't this little risk?



Also i read tons of people on twitter talking about this such as they lost 30% of their life savings and many were immediately selling their TERRA USD correct so they wouldn't lose more?  What i don't understand here is... why are these people so freaked out?  Did they literally had all their live savings in TERRA USD the stablecoin?  But what about Terra coin?  isn't it obvious TERRA USD stablecoin was going to go back to its peg or close to it later on? 



it was mentioned they sold a ton of btc in order to try to get TERRA USD back to its peg.  So if they did that, isn't it obvious worrying about TERRA USD Peg isn't that big of a concern?  Still confused why so many people were freaking out over this.  So why do many people have so much in TERRA USD then?  Heard about anchor staking and they give like 19.5% but is that owning TERRA USD the stablecoin... and earning that amount of interest similar to like how people own GUSD and earn GUSD on gemini?  if that is the case, then i would understand why so many people would own a stablecoin like TERRA USD.  Or is that anchor interest just having TERRA coin and not stable coin?



Even saw on the terra reddit, there was a suicide hotline link shown.  i am still confused why so many people were freaking out?  Again i don't know much about crypto terms such as these sites liquidating shares and things like that but when it was mentioned they were going to sell billion dollars worth of btc to get ust back to its peg, why are people then concerned?  its not like hey ust is keep going down and the company is doing nothing at all to fix the issue?



So let say TERRA USD went to 0.  What would have happened?  All the cryptos would have dropped even more correct?  But are there people that put a ton of their savings in UST or Luna?  The way you see people responses on twitter on this, you feel as if all their savings was on it.  Now would this situation been the same or worst if say this happened to GUSD or USDT or USDC?  im aware UST is a top ten crypto but i couldn't believe why there was so much talk about this.  Were people that owned LUNA much more concerned than those that owned UST?  Assuming one person owned USD while another owned UST.  if you owned UST... the stablecoin should eventually get back to its peg.  LUNA... after a while should go back to its normal prices when bull market right?  So why so much talk about this?

I don't see any significant fall in the past 24 hours regarding USDT. Are you sure about that? Because it doesn't sound like a legitimate source. Anyway, back to UST, Do Kwon tweeted that he should be making an announcement on how to recover UST back to its $1 peg. While it has gone pretty close to that (higher was 0.95 if I'm not mistaken), it still struggles to go beyond that. I believe that action will be taken in order to save it.

thats was strange situation, but I understand from this situation, that everything could be in cryptocurrency, also I dont sure about teather  for now

The price is slowly stabilizing itself, however such a variation in the price is something we could expect of any coin except stable coins, if the stable coin is also going to experiment huge drops in its price while providing none of the benefits like going up in value then there is no reason to keep holding that stable coin at all as it is not fulfilling its purpose.

I wonder how is buying TerraUSD at the moment? After all if I saw such crash I will keep away from such a stable coin as I would immediately think that there was some fundamental reason for its price to go so low.

Jerry, I think exactly like you, it's both idiotic fear and exaggeration.

If you don't have to use it at that moment, why cry so much?
assuming it returns to 1.
And I repeat those who bought at 0.7 and went to 0.9 is a lot of profit, how many BTC did Luna sell to be able to bank the price?

People panic for something they fear about its unknown future.
I do agree that if you have no reason to sell, why sell it at a loss?
Better wait for it to go back to its $0.9-1.0 price range, and maybe sell if you are too worried about this market.
For me, there's nothing to panic about because if you can see the volume, it is still one of the largest in the markets.
So they won't be exiting anytime soon. Better wait for it to recover, sell and get out if you don't want a headache.

Its not fear or exageration, its a ponzi scheme. This is going to be another titan fiasco.

https://www.coingecko.com/en/coins/terra-luna/usd?chart=7_days#panel

that chart shows something.

if btc and luna keeps on dumping, the stablecoin wont hold.

if the value has been down for quite sometime I could guess that most of us has lost trust in this stablecoin because this stablecoin isn’t exactly stable after all.
if you hold any terra USD i guess the best course of action is to wait it out, after all maybe the team behind are trying hard in fixing this and maybe increase their liquidity for this stablecoin
it seems it was caused by the massive correction that we get from btc and all the major coins

I think now the main problem are two things.

1- How many BTC or USD or whatever Terra have to keep the price and comeback to 1.

2- How many trading boys are now seeing the route and dumping more the price to make the profit when they come back 1 usd.

And with this point 2 we come back to point 1.... because if a lot of people come to make that movement in some time maybe they dont have more backrest and...... all traders and Luna go down the pipe.

if tihs stable coins fud still around us , bitcoin hard to recover in near future. more over luna foundation still doing alot thing due ust pegged. if using loan to stablize ust rate , i am believe bitcoin will dumped again .

this is big scarry thing we will face at this moment, alot holder selling their assets to prevent more dump that caused by UST.

The price that was 0.67$ have now crossed $0.76 which is good recovery. The team have given proper detail on this case and has been working to make the market stabilize. Stablecoins were the safe haven when the market is downwards. It was the first attempt by a team to make the dollar peg through a algorithmic process. Anyhow the team will bring back the price to $1, and many will be investing now for assured return.

Honestly, I didn't have much interest in Terra. I felt it was overhyped. Some quarters even said its going to flippen Ethereum. How? Not gonna happen anytime soon. Maybe after Buterin is dead. Lets see how it pans out

Still, its future is extremely vague, it will lose its status. I'm honestly devastated, because I actually sold my UST, which I had unstaked. Personally, making any kind of move looks too much of a gamble to me. I'm just wondering where they'd get the funds to peg UST to $1 again, when Luna's market cap is half of UST's.

Extremely drop with Terra UST as stable coin but right now not only with UST but also Luna coin have drop almost 60% and touch under $15, I don't see any good future investing with Terra coins and prefer out if you still hold Terra coin or UST. I don't know what happen with developer and what have did make Luna, UST coin drop drastically. Actually most funny with UST as stable coins but can drop until $0.6 and can't reach to $1 like other stable coin. Have to ask and waiting Terra developer what happen with their coin and why could drop drastically and UST as stable coin looks as shit coin.

Terra luna was different case. This company is having billions have gone due to the market dump and this company needs to find more money to backed its UST. I see that issued the new loan but that's not enough to backed the UST.
This company was too greedy to compete with the major stable token maker like tether or something else that fully backed by big company like paxos.
End for terra luna is coming very close for us

this is the thing with any stablecoins that has the same model like Terra USD. it’s just not sustaining, even the slightest market movement like the current bearish that could cause market disturbance already puts these stablecoins in such a bad state because lacking the liquidity that it should have reserved.


well they should have reserved double the amount of the current reserved liquidity needed for overcoming this hurdle otherwise their valuation will just decrease as the masses has finally lost its trust against all these algorithmic stablecoins.

they offer that 20% yield for holding UST which is very attractive that's why investors mint the stablecoin, now it seems that this stablecoin wiggles too much. it makes sense to hold more if you want to get that much profit in just holding.

but there were other stablecoin like USDN that also offers close to this apy that didn't really drop to $0.70. this team is corrupt.

It's not even stable right now. The bad thing can come anytime and community was starting to distrust this token. It was happening and you can see how it was going to the deep price just in a short time. How stable the price depends on the result from the depeg of its stable token. If terra is still trying to dump the remaining bitcoin into the UST to stabilize the price and this dump will never gone.

UST barely touch 40 cents and Luna is at 5.5$, oh boy! I think this is not going to end well. I don't see their so-called algorithmic not-so-stable token will restore its reputation anyways.

On some forums like Reddit, I see that people are having thought about suicide. Alas, must be hard for all the token and coin holder/stakers. Some say that the depeg are coordinated by some attackers, but don't know much about it. But the things that it promises as an algorithmic stable coin shouldn't make anyone's trading strategies move perceived as an attack.

It's still continuing to fall :) It's funny that these have been forewarned and UST's assurances in this space. I've also heard a lot about how they secure BTC. It's like any other ponzi scheme, and when BTC drops and the sell-off happens, these things will be like a balloon. But these days I've seen many people lose a lot of assets with Luna, I feel so sorry for them as well as I can't help myself. I'm happy about the profits that have passed, but now accept the reality the market is full of risks.

Luna under 5 dollar and UST only available at 0.3 dollars. Some people suggests that situation will recover a bit so it is best to buy these coins now and gain short term profit ?

What do you suggest on this ? I sit safe to buy these two coins when they are available at dust prices.

Looking at today's price of LUNA at $5, I really want to average out and buy more, but this is very dangerous, since the price can drop much lower. The Terra project does not have enough funds to properly support the value of UST and therefore we may see LUNA even cheaper than 50 cents. This is a very bad situation for the entire crypto market.

UST, together with Terra(Luna) both are dropping.

It's actually giving me some chills if I should buy Luna at this time because it's down to $4-$5. The ATH was $116 and that's afar price from what it is right now and it's all due to the UST thing.

UST is now $0.3 and I don't think that the Terra team will be able to get it back and pegged it again to a dollar. A lot of uncertainty that the market has right now so, I think I won't catch falling knives.

Up to this point, it seems that there is no return, Terra has failed, while conducting any kind of purchase is currently considered a gamble. Do Kwon made two tweets about a future plan in order to save UST, but no details. Hours later, he made another tweet, mentioning to stay strong, but still no details about how UST would be saved. If there was an actual plan, he would have shared the details in an attempt to resolve the tension between Investors.

Honestly, I'm pretty certain that this is the end, my condolences to anyone who lost money during this incident, myself included unfortunately. Stay strong.

Such a depreciation of the stablecoin is a blow to the credibility of the entire cryptocurrency market, regardless of how this story ends. And this will definitely be used by regulators to tighten the regulation of the market and, first of all, of stablecoins.

Binance should DELIST LUNA & ANC Shit or they will Ruin Binance Reputation for supporting SHIT Coins

We will see soon whether binance will decide to delist this token from their exchange site or not. This time each luna traded around 1 dollar at the time im writing this post. I thought that if we will see luna will be dropping even deeper again. It must be below 1 dollar or i do believe each luna must worth around 1 cent. Im sure that if this gonna be a real thing for sure. You must be patience and what you have said above will come true soon

Too risky if we buy terra and UST now, they have lost a lot of value but there is no guarantee they will rise again. I see no chance of saving Luna in this situation, catching her heart right now is like catching a falling knife. Bear market has more potential coins that we can buy instead of focusing on terra.

It would be much better to take advantage of the market right now and buy while others are dumping but this would be great if you know when to buy and sell. As of now, the value of Luna is $2.27 while the TerraUSD is $0.5137. Trading is really risky but if you know when to buy at the right time then you will earn your profit and avoid Future trading since this is too risky, Spot trading can last long if you have patience.

In my opinion, Terra USD, turns out to be lacking in its ability to maintain a stable value, I don't think this is the first time that an independent stablecoin has failed to meet expectations, as for other reasons not only Terra USD, namely MakerDao DAI has also proven to be unable to maintain its $1.00 value. should be so, in other sectors, can be analyzed The main conclusion is that fiat currencies and cryptocurrencies are completely incompatible, fiat currencies are centered by design and can be printed indefinitely by the government of a country, while cryptocurrencies, must rely on distributed networks to remain in circulation , making it difficult for any cryptocurrency to keep value, the theory of supply and demand, in effect forever.

Luna will recover at some point and the real winners will be those that get in at a very bottom price, it's only a matter of time I believe the project will recover but if you are smart you need to buy Luna at a very cheap price, people are already making money shorting Luna.

If you check UST in KuCoin, you will shock to see the price is at $2,30 while in Binance, the price is still $0.43. But now, the price is down slowly and I don't know if that can increase or not. And I don't know how long the time consuming send UST from Binance to KuCoin so be careful when you want to use this coin to trade. But it is so tempting to try because the profit is too big to imagine ;D

Yes, it is risky to trade this coin so it is better to think twice before you use this chance and don't make a rush decision because that can lead you to get lose.

Running a stable crypto asset is difficult – we've all seen a number of projects promise to solve this problem and let their token holders trade at above-market prices. At this point, it's hard to tell if TerraUSD is a stablecoin that will succeed in the long term, or if it's just another project built on hot air. The only problem people have with Terra is its liquidity. Once you buy it, there is nowhere to go and nothing more to do with the asset other than the hope that its value will increase. Will Terra be able to prove that it can maintain its position in the face of increasing liquidity demand going forward? I think we will see a series of stablecoin launched next year. It will be a crowded place.

It was very shocking to see Terra UST. known as a stable coin falling in price. I was very disappointed because i use to believe in the Terra team and i was always counting my Luna as one of the best asset {in cryptocurrency} i ever had. But they (team) just went ahead a shattered my dreams and broke my heart with what they did. I am heart broken

That is because it's centralized and there is no reason for it to be "stable" aside from people believing it to be. The moment people start thinking that it is not stable, and everyone sells their USDT crazily, and nobody buys it, what's going to happen? It will fall, it won't be 1 dollars, and that's the problem.

Do you really think that if it was 50 cents, and you buy it and you try to sell it back because it's backed 1 to 1, they would be able to get that much? Of course they won't be able to do that and that's the thing about crypto right now, it's not as great as people imagine and only surviving based on what people are paying and willing to pay.

I think it was provocation from someone very rich, for a 2 days they are sell UST for a few billions! Sure UST will recover soon!

There are some countries that could arrest you for blasphemy against crypto, I have been reading countless times but still can’t wrap my hand around what you are saying. There are over hundreds benefits of crypto.

By using Bitcoins, users will be contributing to the network and therefore sharing the burden of authorizing transactions, sharing this work greatly reduces transaction cost and thus makes transaction cost negligible. Bitcoins lightens fast  transactions, gives you privacy, decentralization, Bitcoins has high return potential and volatility, no government regulations and so forth.

This phenomenon is really scary and have brought fears to both old and new crypto users. This event is a dent to the crypto space. UST/LUNA ought to have been built to withstand such dump phenomenon or could it not have been prevented? This is really an eye-opener to all crypto enthusiasts and a warning signal to future investors. A big lesson to both investors and crypto technical experts.   

Learned from UST or Terra USD worried with saving and holding stable coin right now, worry have time will drop suddenly like UST, yesterday USDT have drop little although can back up but I worry if USDT like Terra USD drop almost 0.3$ and delist from Binance, right now many stable coin created by several network like BUSD, USDC and I hope they keep as stable coin. UST have looks scam because giving higher APY than usually other stable coin like USDT or BUSD.

There is a difference between USDT/BUSD/ USDC and UST stable coins. The USDT/BUSD/USDC are backed by the physical US dollar whereas UST is an algorithmic stable coin that remains stable because of an algorithm that runs behind it. This algorithm was exploited somehow and it is very bad for the overall crypto industry.
If  Luna and UST are unable to recover and come back, people will lose trust in the algorithmic stable coins and the future of these coins will be dead  :(

According to the developer of Luna, Do Kwon, chances of recovery are extremely slim, since he admitted his own defeat. Most likely, UST will absorb any Luna in an effort to recover UST's peg closer to $1, but even that sounds highly unlikely. There were a few other algorithmic stablecoins in the past, but all failed for quite similar reasons, the cryptocurrency world will surely lose credibility due to the Luna incident.

Terra is a scam. If the token price drops to zero, it might as well have happened with tokens in general. But not with stable coins. If the coin's stable price is not 1:1 it is a scam.

the strategy of the founder to burn so many usd and stake only a few hundred million of luna i do not think will work, it will not revive the fortunes of the project, after such a sudden collapse, investors have lost confidence

I don't believe that it was actually done on purpose (but certainly could have), but that plays little role in this case. Billions were lost, thousands of people lost a good chunk of their money (or even all), including myself. It sucked. On top of that, it damaged cryptocurrencies' reputation, because UST was the third stablecoin in market cap.

At this point a recovery is basically impossible, LUNA is down almost 100% while UST is down 94%, I also think like you, this drop is going to put into question all the stable coins that are algorithmic in nature and I would not be surprised if people began to sell them and got traditional stable coins like USDT instead.

Personally I had high hopes for algorithmic stable coins as those that claim to have their coins backed by fiat could always create more coins than the fiat they have available like banks do all the time , use fractional reserve banking and deceive people that way, but with this fiasco then it is very likely that the interest in algorithmic stable coins will go down dramatically.

It's better if you understand how UST algorithmic stable token worth before try to blame someone else for that. there's no provocation. The design that used by this stable token was so bad compared with another stable token in the market.
There's no reason to blame someone richest caused by that. The team must become the party that must be blamed for this as they were putting their investors into the big risk.
Majority of investors are loosing their money

Terra project simply known as Luna Coin, it has put many investors on high jump, base on the price dump it clear that is mindset of ponzi scheme, how people loose they money in a few days, including they stable-coin called Tera-UST that suppose to be 1:1 but still failed and dip in price beyond major. which i am victim holding LUNA Coin, from Top to Bottom worth less than 1$. 

Actually terra luna is one of the very good projects and this we can see from the development of the project, because there is a fatal mistake made by the team so that the project price drops so much, and very many investors lose their assets because of investing in the project and currently terra luna wants to get back up but all need a process because there must be a big update that must be done so that this project is not considered a scheme ponzi.

The impact of UST is very bad for the cryptocurrency market because the negative impact has dropped the market deeper, but however the collapse of the crypto market will be stronger in the future because all the negative impacts are always resolved starting from the beginning of the cryptocurrency market, crypto has come a long way to get better in terms of digital money.

It's actually a lot of zeroes now on decimal for its price. Yeah, that's what people are calling it, a ponzi scheme that has been found out too late.
Well, all of those people that have lost their money on this can think of anything about the project as it's hard to accept losses for this project that you have invest a lot of money. It's very hard to think of on how did this project and as well as Luna ended badly.

looks like someone know a mistake from luna project and used it to destroy luna structurely and coordinated and it make another investors panic selling their ust and luna. since beginning alot investors put their big hope luna could reach $1k this year but unfortunately this hope destroyed when bug in this algorithm founded.

Yes, I have high hopes for Terra Luna, because I am one of the victims of this decline, but what can I do, I have to hold back and hope that in the future the price of Luna can increase again of course the development team must can fix this gap so that Terra Luna can stay afloat in crypto, and can recover the losses of its users.

They've voted for a recovery plan a few hours ago, didn't pay much attention though. However, I find it highly unlikely for it to recover, it would require billions of dollars just for Luna to reach $1. Millions if not billions of coins have been minted the past few weeks, pratically resulting in a coin of zero value.

I believe the main factor is the weakness of making Bitcoin as a guarantee for Terra USD to be a stable coin. in fact they will be really dizzy if they face their coins and bitcoins going down at the same time then it will definitely be chaotic like now. I agree more with stable coins being backed up with real assets, because backing them up with cryptocurrencies is certainly a risky coin stable.

               Indeed, I believe that no one really ever wanted this tragedy to happen. And if we try to think as a developer, it would be impossible for someone that is known by tons of people to actually scam his investors, that would be something like looking for a hammer to smash your own head. And even if that's not the case, as a developer you put hours and hours of time, money and effort on a project you developed which succeeded having tons of people investing on it and using its services, it would be stupid to throw it all away just for the money(although billions) which would be like hell to hide and liquidate and would likely get you imprisoned. It really doesn't make sense.

               One thing that I see here is that the decisions made were wrong which has caused terrible and irreversible consequences that affected everyone connected to this project along with the entirety of this industry in the eyes of people that barely knows how things work here. Of course, the developers are to blame and should be held accountable for their mistakes but I don't think it would be proper to call them scammers just because of this.

Honestly, I keep beating myself for not reading their whitepaper earlier. I never expected that one of most largest stablecoins in market cap could fail in such way. Even if I had read it though, I'm still positive that I'd still fallen for it, who would have expected such a turn.

You dont even need to read the whitepaper, the 20% apy would make you curious where does the money come from. That made me not touch terra back but i hope the companies under it recover from this shit show.

I wasn't staking in Anchor, but at Beefy via the BUSD-UST pair, achieving an average APY of 10-15% in average, could be a little more but I don't remember exactly. 20% APY isn't uncommon enough to raise major red flags to me. I've seen quite a few vaults averaging 12-15%, at least for a decent time period.

Yes and even when some coins are say they are stable, here's a proof that the claimed stable coin crashes. Right now I am not sure where should I put my money when it is not in cryptocurrency, I am afraid that in BUSD or USDT this could happen too. What do you think?

ya.ya.yo!

The recovery may be gradual, but not in the near future because the decline experienced by Terra Luna was the worst of all the altcoins on the market.
So hoping to recover from Terra Luna is not wrong and also a very natural thing even though some people are starting to doubt about Terra Luna for now.

After luna down, news emerged that it was proven that terra luna opened a stable coin before terra down someone said that, what i'm afraid later when terra luna recovers there will be new news again proven terra luna as a stable coin for me this is not important because everything that is an investment there is still a risk because we know the coin is still unstable in price even though the coin is stable but one day there will be obstacles that will continue to fall,

               Still though, I am glad that I was able to gain quite a few profit by selling last year. Although, I really do feel bad for everyone that suffered losses. And to be honest, looking at how it was doing well not dumping too hard a few months into this year I was actually considering to buy back again and was just looking for better entries. I just got lucky that I haven't had any extra busd yet since I was busy DCA-ing on BTC and a few altcoins. Still though, I am observing luna and how it's v2 will turn out. I might consider jumping into it again if I see some good progress.

I saw what the development team did.  Of course I think that Terra-USD is a stable coin because they are backed up with Bitcoin and dollars.  But the problem is when they do a minting system between LUNA and their coin stable.  I think LUNA is a good coin but it seems they are growing too fast and people are just following the trend.  Of course this will cause a bubble effect and when the time comes, it will explode and of course, the result is what we are currently seeing.

UST is different BUSD and USDT, UST is an algorithmically stablecoin, BUSD and USDT are backed by USD. Busd and usdt are 2 centralized stablecoins so it is difficult to say about their future. But one of the recent reports by Tether, the parent company behind USDT, shows that Tether has a total holding 82.4 billion USD, they claim to have excess capacity to guarantee USDT.

The collapse of UST affects Waves' USDN and Kava's USDX. These two stablecoins both fell deeply and fell off the $1 level.
https://tether.to/en/assurance-opinion-once-again-re-affirms-tethers-reserves-fully-backed-reveals-significant-reductions-in-commercial-paper-and-increase-in-us-treasury-bills/

panic selling is the main reason since the day one and tbh its very obvious tho, and actually terra is not scam, but the fact that they can handle the situation so the price feel like a rock,. By the way i am thankful as well because i didn't invest in it. But surely they can fix the current situation in the future, where in Patience is key as always.