...UST isn't backed by anything hence the price right now. Since they sold their Bitcoin (Their only asset that supports UST & LUNA), it's only a matter of time before it goes to $0.
Kinda feel bad for investors who thought their assets are safe in UST since they branded it as "Stablecoin", which you can see it's not.
Yes, the problem inherent in the algorithmic stablecoin has now become obvious to everyone. But I still remain confident that the UST problem will be solved in the near future and the value of the stablecoin will return to the dollar, as the Luna Foundation Guard has plans to restore the value of the Terra USD. |
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...Honestly, if I've got a lot of money and I want to stake, I'll simply put it into stable coins and stake it. I'd like it much than the other staking coins because it gives stable amount for its percentage and the coins itself.
Today's problems with UST clearly show that there is no guarantee that you will get a profit, stablecoin staking. And trying to get an increased percentage for staking, which exceeds the bank several times, you can lose your deposit. And as we can see, the UST dump case is not an isolated one, we recently observed something similar with another algorithmic Neutrino USD (USD) stablecoin. |
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...The current crisis is a huge challenge for Luna team. Some supporters of Luna still believe that they still have enough reserves to bring back UST to 1 dollar. let's watch and wait how things shape up in coming days
Without the investment of large capital, the problem with UST will not be solved. Luna Foundation Guard has fully used its BTC, which was supposed to support the value of UST and now, according to their statements, they are looking for $1 billion to support the algorithmic stablecoin Terra USD. |
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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.
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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 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". |
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...Consider how UST (Terra's stablecoin) lost its peg because of the massive downfall in BTC's price. Not only UST, but other decentralized stablecoins like Neutrino USD and NuBits have experienced the same issue in the past. If this persists, people may only cash out crypto directly to a CBDC to enjoy the full benefits of a stable currency. Ultimately, it's all about utility. As long as crypto remains useful, nothing else matters. Just my thoughts  As I wrote earlier, if a decentralized stablecoin is tied to a cryptocurrency, then it will not react to changes in the value of the cryptocurrency to the dollar. Thus, for example, if UST was equal to 0.001 BTC, then this value will be maintained regardless of the current value of bitcoin. But apparently for this, fiat must be completely compromised so that the binding to it is no longer used. |
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Such a false idea of trading is usually formed by newcomers who came to the crypto market in a bull market. At such a time, almost any coin bought "yesterday", already "tomorrow" makes it possible to get a profit. With the onset of the bear market, the situation is changing and special knowledge is already required in order not to lose your money.
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I believe that this is just temporary. Terra Luna's team already released a statement about this case. ..
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. |
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...Here is the easiest way for new traders to profit from the crypto market..
There is no easy way to make a profit on the crypto market. Therefore, I am initially cautious about such statements. And accordingly, copy trading, which you write about, is also not guaranteed earnings, since the trader whose transactions you copy also makes mistakes. |
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The best coins you can buy in a bear market are bitcoins while you can also buy altcoins as an option because after all, bitcoin will give you a bigger profit than altcoins. ..
If you have chosen altcoin correctly for investment, then in the bull market it will bring you much more profit than bitcoin can bring you. And it is this kind of investment that will help you increase the amount of BTC in your wallet due to the profit received from the sale of altcoins. |
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Polygon and BNB is a coin that I think is worthy of us to buy now, the potential for a large increase in the 2 coins makes me not hesitate to buy more, I'm sure a maximum of a month I can profit with these 2 coins.
In a bear market, you must hold stablecoins so that your wallet does not depreciate. Polygon and BNB will be good investments only when we see confirmation that the market has turned up and become bullish. That's when we'll need stablecoins to buy coins at a low price. |
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It is somewhat surprising how NFTs are increasing, we hope that in these 5 years in the future they will be able to spread more. With the news reflecting growing interest in the non-fungible token (NFT) space among current investors, new research predicts that the current $3 billion market size will reach $13.6 billion by the end of 2027...
In his article, the Wall Street Journal, based on the research collected by the resource http://nonfungible.com/ more pessimistic than you are. Since November last year, the number of active NFT wallets has decreased from 119 thousand to 14 thousand: https://www.wsj.com/articles/nft-sales-are-flatlining-11651552616 In addition, eight months ago, an average of 225000 NFT were sold daily, now this value has dropped to 19000. Thus, we see that the interest among investors in NFT is steadily decreasing. |
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...I see so many that aren't listed like whsiperMSG, Valore, Elysian Finance, they don't look like they will be hitting an exchange any time soon...
Since decentralized exchanges have appeared, there is no problem to list it. The problem is that there are very few projects whose team is interested in such a listing and further development of the project, after they collect money from investors. |
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In general, courses are, of course, also a rather useful stage for a trader's work. But I think it's more important to try to learn on your own, it will be more effective.
Of course, you can understand trading on your own and it will be easier to do this if you already have a special education and understand the basics of trading and business in general. If you start self-education from scratch, then it will take you a lot of time and you will make a lot of mistakes in the learning process. |
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I think it's fine to enter now. their token price is not too bad and the project ecosystem is good too. so buying their NFT is not a bad choice. even though their nft is quite expensive, but if it is calculated in detail, we can still get ROI even though the market is in a bad state. besides the hype of this project is still high, this is what makes me pretty sure about this project.
You can partially buy the coin at the current price, but there is a very high probability that the price of the coin will continue to decline, and the first good price to buy will be about $2. And only from this level will it be necessary to see how the price will react to this level. |
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If you have money to pay for training, then you need to use your money to acquire knowledge. Of course, you can try to learn the basics of trading yourself, but in this case you will need a lot more time and there is no guarantee that you will choose the right strategy for training.
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"* historical arts * - When historical arts like the starry night, Guernica etc., get approval from owners and museums to be produced as an NFT to reach many more people that appreciate its art and historical significance, it will be massive!"
Can you explain to me like I am five, the benefit in this example you mentioned if historical art pieces are produced as an NFT? It will be very interesting to look at the result of the experiment "The Pyramid", which should find out whether the buyer will be able to distinguish the work of a real master from mediocre work, which is more on OpenSea. As part of this experiment, 13 well-known artists whose works are presented in the Guggenheim Galleries and in the Louvre will anonymously present their works to NFT. The experiment started at OpenSea on April 28 and its results will be available on https://pyramid.nftmasters.pro/ |
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Yes, I have switched my metamask into the matic network.
But there is something that I do not really understand;
The recipient address for this transfer is my Binance Wallet : 0x03dB21024142B5F444e6888FE5369e64e3e60F85
So to open this address, I use Binance Wallet, not metamask.
So I do not really understand why we're focusing on my Metamask Account rather than my Binance Wallet address ?
(since the tokens are supposed to be somewhere on my binance wallet address, I suppose)
If your recipient address use Binance wallet how come to import on metamask? you was made mistake and check again with Binance have support deposit BNB coin trough polygon network. Do you have access with phrase or private key on this address or not? 0x03db21024142b5f444e6888fe5369e64e3e60f85 If you make mistake with network coin sending maybe you can contact Binance team refund your BNB coin if there are not support BND deposit trough Polygon network. Better always be careful when sending coin and check network have by some exchange market. Keep the same network when sending coin like Binance support with Polygon network or not. I have looked through the contents of the wallet that the OP indicated and see that he has already withdrawn his coins from the wallet to another address, so the problem has already been solved. And since OR has solved his problem, he needs to close this topic. |
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Do you think it is a good investment or rather a ponzi like scam?
Such schemes necessarily end with the depreciation of the coin, and in this case, GMT, which went to correction a few days ago, will act as such a coin. But this will not happen soon and perhaps now there is a good opportunity to buy a coin at a reduced price. But you should remember that such a coin is not intended for hold. |
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