Is Terra Luna bringing the whole market down?

[thecryptosleeper]

If not, then its Terra Selling to pump thier ust. At least Terra company is being transparent enough and sincere about its  plans on bitcoin. So its what we should expect if ust is not in same level as usdt.

Yes, terra was pumping its UST used bitcoin from the treasury/LFG. It seems like some bitcoins have been moving to the new wallet but this company has sold more than 500 millions USD worth of bitcoin to the market but the problem is selling in a loss was a disaster to this company. That's why terra wants to issue another 1.5 billions loan to make the UST stable. The idea by backing the stable asset with unstable asset was a very bad idea.
This idea needs to be restructured again.

Agreed. Maybe if they had chosen an additional asset or two with low correlation that could rebalance... Paxg, for example, comes to mind. might not be enough on its own but if there were a few of those assets mixed in, it might be enough to offset the volatility ...

[X-ray]

Luna soon will reach $6. The only traders that buy luna are to shorting the market. bunch of guys have planned to sell their terra luna for the stable token. It's over for terra luna. This will become another bad thing to be written in the crypto book history if there was a company who collapse caused by failed to manage its product called stable token. I just wanna see how many traders are still interesting to buy this token. It's sad to see that dumping more than 75% in 3 days. What a shame

[popeye95]

Luna soon will reach $6. The only traders that buy luna are to shorting the market. bunch of guys have planned to sell their terra luna for the stable token. It's over for terra luna. This will become another bad thing to be written in the crypto book history if there was a company who collapse caused by failed to manage its product called stable token. I just wanna see how many traders are still interesting to buy this token. It's sad to see that dumping more than 75% in 3 days. What a shame

True, Luna's price now only somewhat hovers around $2 because traders are shorting it, anticipating even a low price after this. The whole scheme of Terra and Luna is a failure in this time of the market where only reputation stable coins like USDT or maybe BUSD could maintain their peg's price. Terra and Luna can keep minting but they will never resolve their problem.

[mindrust]

We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.

If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.

Is this what's happening now already?

Looks like, yes. I tried to warn people but then I started to not care... Stable coins are a huge risk for the crypto space. The bigger they get, the riskier crypto becomes. TerraUSD was relatively a smaller stable coin when compared with USDT. If UST can cause that much pain, imagine what would happen if USDT was going down. I hope that day never comes but when or if it does, it will be much worse than this.

[Marvelman]

So you guys don't think Terra LUNA will recover? I was thinking of going in long with a little bit of capital at around $ 1 / LUNA. You think that's a bad idea?

[carlfebz2]

So you guys don't think Terra LUNA will recover? I was thinking of going in long with a little bit of capital at around $ 1 / LUNA. You think that's a bad idea?

No one knows on about recovery whether it could happen or totally this coin and knowing that it had able to reach ATH on last months and now it is down on 98% if that price which

you could really say that this is some sort of money grab or total manipulation because if this one had that strong support it wont really be going down into that ridiculous percentage.

Not only Luna but also in other coins in the market specially into this bearish trend which is something thats not surprising.

[ninis45]

bear market is the moment where all the altcoins fall following bitcoin except stablecoins. UST as one of the stablecoins that is probably the most free-falling at this time even though it had strengthened for a while, one of the option that the terraluna team might have done is to sell all bitcoins to support the price of UST in this bear market

[BitcoinPanther]

We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.

If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.

Is this what's happening now already?

I do not think that UST is the one bringing the market down.  Bitcoin is already on that path before Terra Luna crashes.  It don't think it is one of the reason why BTC price plummet since I don't hear any news that they are liquidating their BTC holdings yet.

As far as I know they increased the minting of Luna per day to solve the current problem.

Do Kwon, the coin’s creator, made a last-ditch effort to return UST to its $1 peg by increasing the rate at which new luna is minted per day. The venture is essentially allowing supply of its stablecoin to be eaten up, a move it hopes will boost the price.

[TheClownSong]

We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.

If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.

Is this what's happening now already?

today your worry about ust pegged happen and luna foundation selling their bitcoin and caused bloody market.Luna and UST be main reason why bitcoin and another altcoin dumped hard. today we learn alot from Luna ,investing in top 10 coinmarket didnt guarantee our investment will safe.

[Tony116]

 Terra and Luna can keep minting but they will never resolve their problem.

Do know decided to increase the supply of Luna to rescue the UST, but this also did not solve the problem. UST is backed by Bitcoin and Luna but Bitcoin was sold out yesterday to support UST but it failed. About Luna I think it really died when the investor's confidence was lost, the increase in supply couldn't help Luna recover to save UST.

[OgNasty]

 Terra and Luna can keep minting but they will never resolve their problem.

Do know decided to increase the supply of Luna to rescue the UST, but this also did not solve the problem. UST is backed by Bitcoin and Luna but Bitcoin was sold out yesterday to support UST but it failed. About Luna I think it really died when the investor's confidence was lost, the increase in supply couldn't help Luna recover to save UST.

I don't know...  So long as there are people willing to buy Luna, there's hope that UST can be shored up again.  I'm just shocked there are people willing to buy Luna.  I mean, it's probably a great opportunity for a quick flip (or will be at some point when it hits bottom) but it's been shown that they'll dump as much of it as there are buy orders for in order to try and save UST and bring it back to $1.  The price has fallen so much though, I'm sure the people in control will be able to exploit it to make a small fortune on the way back up once they've decided they fleeced enough of their holders.  So glad that I stayed far away from this situation.  It seemed clear that backing a stablecoin with Bitcoin was a bad idea, especially since the Bitcoin was being purchased at elevated rates due to the public nature of the purchase.  At least Do Kwon learned why the big boys buy quietly OTC.  He thought he was too big to fail.  Now he'll probably be looking over his shoulder the rest of his life.

[Farma]

we most likely it happened this time. LUNA is in trouble, even their stable coin is in the range of $0.7 to $0.8, while the price of Luna itself is almost down 100%. This makes panic sell worst this year. this affects other altcoins, and makes the market bleed. however, I think LUNA is the biggest contributor to the current events. other things are triggered by a price drop that is severe enough to make people sell their assets. I hope this will be fixed soon and prices will recover.

[rugrats]

We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.

If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.

Is this what's happening now already?

today your worry about ust pegged happen and luna foundation selling their bitcoin and caused bloody market.Luna and UST be main reason why bitcoin and another altcoin dumped hard. today we learn alot from Luna ,investing in top 10 coinmarket didnt guarantee our investment will safe.

Yes, investing in topcoins does not always save us from risk and bring a profit, Luna is a wake-up call for all of us.
Always do your research before investing, investing is risky don't put all your money in one coin and invest with the amount you are willing to lose.
I think this is the end for Luna and a lesson for projects that are looking to create their own stable coins.

[adaseb]

So far they are minting crazy amounts of Luna and people are taking advantage by buying UST and getting $1 worth of Luna and then selling that to repeat the process.

The supply is growing like crazy however and this will see single digit in the cents pretty soon. When Luna value is Very low then buying UST won’t make sense anymore since they only mint like 1,000,000 per minute.

[South Park]

We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.

If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.

Is this what's happening now already?

It is a combination of factors, to begin with the market was bearish and the price has gone down for some time, then luna has crashed more than 99% in a single week, since it was a popular coin and many people were losing a lot of money then I think it is to be expected that this had a tremendous effect on the market, as this gave more ammunition to those that argue that this market is just a big scam, so it is easy to see how this has scared away a great deal of investors that were here only for the money and nothing more.

[livingfree]

This Terra and UST fiasco.

This truly have brought the market down as start but they're not just the whole reason why the market is down. But also there are too many reasons that have been compiled altogether so the impact is totally huge.

Just think of this time that we've officially entered the bear market and you need to be more patient at this time and you should make your plans on what actions you'll do.

[xmonkeyx]

This Terra and UST fiasco.

This truly have brought the market down as start but they're not just the whole reason why the market is down. But also there are too many reasons that have been compiled altogether so the impact is totally huge.

Just think of this time that we've officially entered the bear market and you need to be more patient at this time and you should make your plans on what actions you'll do.

it's not just a bear market that caused almost all coin prices to fall but now the price of LUNA has fallen unnaturally, in 2 days the price of LUNA has fallen so deeply even now the price of LUNA coins is under $1. I think this will be a disaster for them. we don't know what the developers did as if they didn't care about the coin anymore so it could fall that deep.

[strunberg]

Luna soon will reach $6. The only traders that buy luna are to shorting the market. bunch of guys have planned to sell their terra luna for the stable token. It's over for terra luna. This will become another bad thing to be written in the crypto book history if there was a company who collapse caused by failed to manage its product called stable token. I just wanna see how many traders are still interesting to buy this token. It's sad to see that dumping more than 75% in 3 days. What a shame

no more people will  trust to LUNA , today Luna hit new low again and no buying pressure in this coin. Its become nothing now for Luna and UST , most crypto traders now short Luna till to earth not only moon again. we become witness how dark this Luna rugpull and UST, alot investors become poor man due holding Luna which is recognized as best projects.

[Lantind]

it's not just a bear market that caused almost all coin prices to fall but now the price of LUNA has fallen unnaturally, in 2 days the price of LUNA has fallen so deeply even now the price of LUNA coins is under $1. I think this will be a disaster for them. we don't know what the developers did as if they didn't care about the coin anymore so it could fall that deep.

Now the price is under half a dollar with a decline that will still occur and even some people have also assumed that Luna will die within this year and if it doesn't die, then another big increase could happen to Luna with potential that will continue to grow in the future.

[Maestro75]

I wanted to start a thread on Luna before I saw someone has already started it. We expect Luna holders to be feeling very bad now. The coin has fallen badly within two days and that is crazy. Its current price now is $0.07 from over $110 a month ago and it can still fall more before the end of today. Luna is a good project for me and I hope those who also trust it should not panic about what is happening to it now. They can instead buy more at its crashed price.