Is Terra Luna bringing the whole market down?

[Samurai trieng]

that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna, it is very impossible if luna can decrease the entire market because LUNA is only an ordinary coin and currently has left by the developer and terra luna was down almost 100%.

[RussianEnglishTranslation]

I didn't invest in Luna or UST because it looked like a scam, and it was. I do think that a fully algorithmic stablecoin can work, but it does need proper coding and a peg. That's why I am excited to see what CNDL Candle Labs is doing. Their chain is technically superior to Luna in its own right but it's also designed to host metaverses specifically, not stablecons. I think this is a much more sustainable direction for a chain and I think that it is positioned to do well over the coming years as metaverses gain in popularity. The cool thing is that I didn't even have to buy CNDL. Since they have a beta program right now, I got some coins just by testing their wallet etc. This might be a good opportunity for some of you who lost money on Luna to recoup some of those funds.

[makishart]

that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna,

I can't agree with this. Luna has massively made so many people scared to invest in the crypto. What in the hell billion marketcap project can go to the zero in a night. This didn't even make sense. It's better if you are also watching the various news about luna. Even yellen was also talking about luna and regulators are also preparing the draft for the stable token regulation. This is giving massive impact to the everything. It makes regulators pays more attention to the luna and crypto.
Luna was disaster for crypto. It was also bringing bitcoin down as well caused by all of LFG reserved funds being sold to the market.

[$anounimus$]

This can be a big problem for the market in general, as it will encourage further volatility in an already volatile market. As with any investment strategy that looks too good to be true, caution is always advised. The crypto market is very volatile. Maybe in 5 years, the market capitalization in Terra Luna will be 10% of the total market capitalization of all cryptocurrencies, in my view, this may be a turning point that pulls the market out of its current slump.

[Dave1]

This can be a big problem for the market in general, as it will encourage further volatility in an already volatile market. As with any investment strategy that looks too good to be true, caution is always advised. The crypto market is very volatile. Maybe in 5 years, the market capitalization in Terra Luna will be 10% of the total market capitalization of all cryptocurrencies, in my view, this may be a turning point that pulls the market out of its current slump.

It's just the timing though, we are in a bear market and it just worsen because of the Luna debacle. We all know that the market is going to be volatile regardless of the trend lines, but there could be some catalyst that will make the price go on a downward spin and that is Terra Luna. Billions of dollars wipe because of some costly mistake from them or if it is plan ahead, we can only speculate at this point.

[South Park]

that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna, it is very impossible if luna can decrease the entire market because LUNA is only an ordinary coin and currently has left by the developer and terra luna was down almost 100%.

I disagree, Terra Luna was one of the most important coins in this market and when it collapsed almost overnight then this had the effect of bringing the whole market down, besides the evidence supports this, as when it became apparent that Terra Luna was crashing then the rest of the coins in the market began to go down as well, now if Terra Luna was a coin that no one but a few people knew about then you may have a point, but it was in fact a very popular coin which caused massive losses not only to retail investors but even exchanges were affected by it.

[Shasha80]

that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna,

I can't agree with this. Luna has massively made so many people scared to invest in the crypto. What in the hell billion marketcap project can go to the zero in a night. This didn't even make sense. It's better if you are also watching the various news about luna. Even yellen was also talking about luna and regulators are also preparing the draft for the stable token regulation. This is giving massive impact to the everything. It makes regulators pays more attention to the luna and crypto.
Luna was disaster for crypto. It was also bringing bitcoin down as well caused by all of LFG reserved funds being sold to the market.

To be honest the market has shown a decline since the beginning of this year, and what happened to Terra Luna made the market situation
even worse. Many investors are panicking about what happened to Terra Luna, because Terra Luna is very popular and able to be in the top 10.
So when the price falls drastically, of course it affects the market as a whole, because many people panic what happened to Terra Luna will also
happen to other popular coins. So I totally agree if it is said that what happened to Terra Luna made the crypto market fall.

[leea-1334]

that's not true,,,, currently the market is experiencing bearish so all coins are experiencing a decline, and this has no effect on terra luna, it is very impossible if luna can decrease the entire market because LUNA is only an ordinary coin and currently has left by the developer and terra luna was down almost 100%.

I disagree, Terra Luna was one of the most important coins in this market and when it collapsed almost overnight then this had the effect of bringing the whole market down, besides the evidence supports this, as when it became apparent that Terra Luna was crashing then the rest of the coins in the market began to go down as well, now if Terra Luna was a coin that no one but a few people knew about then you may have a point, but it was in fact a very popular coin which caused massive losses not only to retail investors but even exchanges were affected by it.

We have to understand that this Terra thing happened right in the middle of a lot of bad news, global stock markets and inflation news all came out in the same week.

For sure the collapse just made people so fearful that most sold when they would not have anyway, and confidence in crypto is totally shaken,,, but it is not the main cause, it is for sure a large contributing factor yes.

Think about it though, Terra was made out of nothing and people just poured money into it. They lost a gamble, and that made them fearful of the entire crypto market.

[Adbitco]

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 think that the Luna treasury alone is not able to make the entire cryptocurrency market drop so drastically.
However, the financial security of Luna that you write about seems to me very unstable and in my opinion this may be one of the reasons why this project may be in danger of collapse.

This is absolutely the reason for the market sentiment, 80k btc was withdrawn and causing instability Luna stable coin loses it values dropping drastically so nothing much rather that Luna but seems the market is gaining it strength back since the launched of Luna 2.0.

[Fakhrulenclix]

The decline in market prices that is currently happening is a natural thing, but it's not all because of Luna, it's just that the fall that happened to Luna and Ust made them down without being able to get up because the developers were unable to save their coins.
but that's not the case with other coins, if you look at the current market price, I think price movements tend to be stable, which means that the decline that occurred for a long time has ended even though it hasn't recovered, but there is no further decline in depth, which is something that positive and possible to recover.

[btc78]

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 not terra luna that brining the market dumping instead it is the manipulator that bringing the issue constantly to make people panic more , we have so many big issues in the past and even scams here and there , also there are hacking of big exchange but what happened? market always recovered right?
it is become exaggerating to when the problem arise now and makes the market dumping .

[jaberwock]

Terra Luna was one of the most important coins in this market and when it collapsed almost overnight then this had the effect of bringing the whole market down, besides the evidence supports this, as when it became apparent that Terra Luna was crashing then the rest of the coins in the market began to go down as well, now if Terra Luna was a coin that no one but a few people knew about then you may have a point, but it was in fact a very popular coin which caused massive losses not only to retail investors but even exchanges were affected by it.

Likewise, luna is not just a simple coin like any other meme coins out there that have collapsed but luna was once a trusted coin, it gained so much trust from the public. The total amount invested and lost are a proof to that. Luna coin might not directly be the cause of the crash but it is said that their team bought too much btc and then they sold those btc's later on. That should be the main cause of the crash.

I know it's only btc, but other coins can sometimes follow what btc are doing. We usually think that we common investors are only losing whenever there's a crash but it is true that exchanges are also losing. I saw the post of cz last time and how much was the lost of binance from luna coin.