Terra USD, proved its not a stablecoin

[Iyeman]

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.

[electronicash]

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.

[shinratensei_]

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

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.

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.

[vv181]

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.

[southerngentuk]

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.

[UmerIdrees]

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.

[yurez]

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.

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.

[sunsilk]

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.

[Ultegra134]

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.

[tvplus006]

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.

[rum19980]

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

[JeffBrad12]

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

[hichamito37]

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.

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.

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.

[d3nz]

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.

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.

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.

[Dervish doff]

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.

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.

[ANSEL_2.0]

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.

[maydna]

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

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.

[$anounimus$]

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.

[Kingairdrop]

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

[justdimin]

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.

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.