Hamza2424 (OP)
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May 10, 2022, 04:15:43 PM Last edit: May 10, 2022, 04:35:36 PM by Hamza2424 |
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Luna is a role model no doubt and LUNA is the only reason for the Popularity of the Pegged Decentralized stable currency in true words. But Luna showed a massive DIP reason its stable coin pegged with the LUNA lost its value to 77 cents remember that it's due to market fud/panic and heavy transfer of funds so Whatever the reason but due that LUNA made 50% dip estimated. $5B a massive Capital loss in the UST. But if the LUNA made no recovery on it then the condition will be more worst I know they have good reserves in BTC and Luna to Pegg UST price again but now UST lost a major power Capital and there are more options for investors in the market. My one more concern is with the USDD and TRX there are more possibilities that USDD can also face such positions but the Reserve and Market Capital Partners in USDD are one the biggest ventures onboard and in this Panic situation still, USDD made a good resistance on a $255M capital and keep growing reason major @AlamedaResearch @ambergroup_io @Polonniex. I am hoping good for USDD and if such a condition comes then TRX in DIP will be a buying spot and LUNA is also an opportunity but on which price you have to decide. Other Hyped Topics Covered Tron (TRX) Time is Here ! What about a new ATH: https://bitcointalk.org/index.php?topic=5397716.msg60072028#msg60072028STEPN Project Should we Enter Now or Exit https://bitcointalk.org/index.php?topic=5397632.msg60064930#msg60064930Doge Future after Elon Musk Buy Twitter ? https://bitcointalk.org/index.php?topic=5396699.msg60005228#msg60005228
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Muhammad Shoaib
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May 11, 2022, 12:01:16 AM |
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Luna is recovering but this is not good a big thread to the Alogrithumic Stable Coins as you said its a role model because you can see Beans Stable Coin was also Dipped so hard due to hack.
But besides that DAI is one of the Best
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Dave1
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May 11, 2022, 12:44:40 AM |
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Well I guess the damage has been done to their reputation? And if I remember it correctly, they decided to infuse their reserves with BTC which I think is the biggest reason why the price of BTC suddenly goes down hard because they are selling it like hot pancakes just to be able to cover the 1:1 of their stable coins. Not sure if we are going to trust them with this kind of 'dumb' move, much better to look for alternatives.
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hashrateproducts
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May 11, 2022, 01:24:03 AM |
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Well I guess the damage has been done to their reputation? And if I remember it correctly, they decided to infuse their reserves with BTC which I think is the biggest reason why the price of BTC suddenly goes down hard because they are selling it like hot pancakes just to be able to cover the 1:1 of their stable coins. Not sure if we are going to trust them with this kind of 'dumb' move, much better to look for alternatives.
Luna dumps heavily but it will still retraced back. It's all matter of time. This is the likely the best time to bagged as much pieces of the coins as possible. The market is currently down, now is the best time to bagged as much coins as possible, inother to gained from the dip. One of the major reasons other Crypto are dipping is because the dumps of Bitcoin affects them all. Even Ethereum work align with Bitcoin price actions. Whales are selling their coins, those who buy high are selling low due to FUD in the space.
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Sayeds56
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Eloncoin.org - Mars, here we come!
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May 11, 2022, 01:41:28 AM Last edit: May 11, 2022, 02:09:38 AM by Sayeds56 |
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Luna is recovering but this is not good a big thread to the Alogrithumic Stable Coins as you said its a role model because you can see Beans Stable Coin was also Dipped so hard due to hack.
But besides that DAI is one of the Best
Luna is in a death spiral and it will be difficult for it to survive current crisis. This morning it is trading around $16 that means 86% down from its ATH. The idea of algorithmic stable coin UST failed to work during the market downturn and it has drastically damaged reputation of LFG. The collapse of UST would send ripples through the entire DeFi industry, and it will sound alarm bells for regulators who notice retail investors holding the bag. 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 https://www.coindesk.com/tech/2022/05/10/ust-stablecoin-veers-wildly-from-dollar-peg-heres-the-latest/
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Coin_trader
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May 11, 2022, 01:49:46 AM |
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Luna is recovering but this is not good a big thread to the Alogrithumic Stable Coins as you said its a role model because you can see Beans Stable Coin was also Dipped so hard due to hack.
But besides that DAI is one of the Best
Luna is not recovering FYI, This is biggest scam in crypto especially in stablecoins. We are all claiming about how shady the USDT is while we are giving praise to LUNA UST since they are doing huge investment in Bitcoin but look at them now. They are the reason why crypto investors is on panic during this bearish trend. Bitcoin should be recovering by now if there's no scam drama like this given by luna company. How come a stable coin will lose double digit percentage on few days?
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Iyeman
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May 11, 2022, 01:57:19 AM |
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the current bearish goes to show that there is definitely a lacking in the system of all these algorithmic stablecoin as they are not good enough in going against the wave of the market, bearish and all these stablecoins already have such a bad time overcoming the current condition not to mention that so many people are panicking because they are holding an altcoin that was supposed to be stable but turns out it’s not at all. their supposed reserve value has decreased in value more than 50% surely that gonna put anyone that cares with the well being of their investment into an alarmed mode because it’s not some measly amount at all.
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shinratensei_
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May 11, 2022, 01:59:00 AM |
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I will give you an interesting scenario about this but again this is still a speculation. https://twitter.com/OnChainWizard/status/1524123983511273473Luna was loosing a lot caused by it must have sold its bitcoin to peg its stable token while the price of UST is always getting short. This may become the end for terra luna. This company is seeking a big loan to back its stable token but im sure that if this is not enough to be used for that. That needs more than a miracle to make this to go up again. The bitcoin dump is ruining not only money but reputation of terra luna
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Hamza2424 (OP)
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#SWGT CERTIK Audited
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May 11, 2022, 03:13:01 AM |
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the current bearish goes to show that there is definitely a lacking in the system of all these algorithmic stablecoin as they are not good enough in going against the wave of the market, bearish and all these stablecoins already have such a bad time overcoming the current condition not to mention that so many people are panicking because they are holding an altcoin that was supposed to be stable but turns out it’s not at all. their supposed reserve value has decreased in value more than 50% surely that gonna put anyone that cares with the well being of their investment into an alarmed mode because it’s not some measly amount at all.
Surprisingly i was waiting for the 20$ to take the entry In luna and today in warly morning the price dip is around the 15$ and now base value is 17$ to 14$ well. Thats true that algorithmic coins are not much stronger to overcome the supply and demand value of this current wave. But Bear trend is reason that not justified. Because in Next Era of BTC when Dip fro 120k to 60k or 50k then how these Coins going to justify the investors. Stable coins pegged should be strong enough to provide the Perfection in justified price as its pegged there will be opportunity for the investors to enter with high risk and profits.
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Anonylz
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May 11, 2022, 03:41:19 AM |
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What is ust pegged to for such a huge dip! Luna can dip since it only reacts to market condition and the general market is currently at a huge dip but why ust that is a stablecoin will experience such dip? Just make me lose trust in ust stablecoin compared to usdt which is still strongly trading at 1usdt. I can't say much about trx usdd because it is new and not too long everyone praised ust luna and see the end result, I guess it is better to wait and watch what will happen afterwards.
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StarKay
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We All Can Make It
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May 11, 2022, 05:53:17 AM |
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This is one of the most shocking event I have ever seen in crypto space, how come a top ten coin LUNA that just hits it's all time high less than 2 months ago have now lost over 90% of that value and it is still on a downward spiral.
I do hope USDD would take a cue from whatever led to this catastrophic failure and not make a repeat.
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dwminer1
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May 11, 2022, 07:26:15 AM |
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The USDD protocol uses TRX as the base currency to price USDD. The USDD protocol maintains the market price of USDD around the target price regardless of market conditions using the following method: ● When USDD's price < 1USD, users and arbitrageurs could swap 1USDD to 1USD worth of TRX in the protocol. When 1USDD = 0.9USD, an arbitrageur can buy 1USDD with 0.9USD in the external market and then swap 1USDD for 1USD worth of TRX in the system. After that, the arbitrageur can sell 1USD worth of TRX in the external market at 1USD. In this way, the arbitrageur spends 0.9USD to get 1USD, and earns 0.1USD without taking any risks. As a result of the above arbitrage, 1USDD will be burned, and 1USD worth of TRX will be minted. As the supply of USDD decreases, USDD's price will increase, to the point where there is no room for arbitrage and 1USDD re-equates to 1USD. ● When USDD's price > 1USD, users and arbitrageurs could swap 1USD worth of TRX to 1 USDD in the protocol. When 1USDD = 1.1USD, an arbitrageur can pay 1USD for TRX of the same value in the external market and then swap 1USD worth of TRX for 1USDD in the system. After that, the arbitrageur can sell 1USDD in the external market at 1.1USD. The arbitrageur spends 1USD to get 1.1USD and earns 0.1USD without taking any risks. As a result of the above arbitrage, 1USD worth of TRX will be burned, and 1USDD will be minted. As the supply of USDD rises, USDD's price will go down, to the point where there is no room for arbitrage and 1USDD re-equates to 1USD.
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magneto
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May 11, 2022, 07:43:07 AM |
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LUNA is literally hitting $1 before UST does (if it ever does).
No, LUNA is not a role model by any means. Their system was set up to essentially be ponzi-like and that does not benefit anyone.
All the algo stables that are backed by thin air is not unlike fiat currency, although just under the banner of decentralisation. The fact that the peg needs rescuing simply tells me that this is far from being decentralised.
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enhu
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May 11, 2022, 07:46:43 AM |
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Now $0.30, how in the world did they get there being stablecoin? LOL
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dimonstration
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May 11, 2022, 07:54:59 AM |
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Now $0.30, how in the world did they get there being stablecoin? LOL
This is a result of an attack to there stablecoin. I read some article on twitter thats shows how much the attacker spend just to depegged UST to its current price. The rest is just a panic sell same with LUNA. I think LUNA will revisit again it's original price which is below 1$ since the dev team is still silent and I doubt that they can present a emergency plan that minimize loss of there asset, investors already loss trust and price need to visit the strong support in able to bounce back again. I still believe on this project but I will not gonna buy at this sell pressure though.
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southerngentuk
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May 11, 2022, 08:02:00 AM |
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Some news I heard that there are some large investment funds standing by, calling to save Terra in the market. But honestly, I'm still amazed at how quickly it evaporated. Now its reputation in this space has fallen out of favor and is almost a scam for those who have been and are participating, suffering large losses.
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enhu
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May 11, 2022, 08:27:30 AM |
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Now $0.30, how in the world did they get there being stablecoin? LOL
This is a result of an attack to there stablecoin. I read some article on twitter thats shows how much the attacker spend just to depegged UST to its current price. The rest is just a panic sell same with LUNA. I think LUNA will revisit again it's original price which is below 1$ since the dev team is still silent and I doubt that they can present a emergency plan that minimize loss of there asset, investors already loss trust and price need to visit the strong support in able to bounce back again. I still believe on this project but I will not gonna buy at this sell pressure though. That's one strategy. The trust is broken, however. Even if they solve this de pegging, it tainted this Defi project. Luna will be the hardest to promote and pump up because of its price drowning the well. The chance could be high if its price goes back up to $30-50 or something. This is another blowback to crypto in general.
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Kimonoe
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Activity: 700
Merit: 10
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May 11, 2022, 08:33:54 AM |
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ry dramatic change in the price of luna, which at this time seemed to be touching the bottom again the same as at the opening price, after showing good performance before. lost trust can cause a domino effect, which is the same as what we can see today. is it going to get worse, in a day shows a volume decrease of up to 50%
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onecall123
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May 11, 2022, 08:48:20 AM |
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I can only imagine what it must feel like to have a large portion of your portfolio invested in LUNA. That is unimaginable. LUNA crashed this year, which was a disaster for a project that was supposed to be rock solid. Watching this unfold in real-time is insane. There was a lot of money in Terra/Luna that has now been liquidated. A vulnerable shitcoin has been exposed. It is no longer trusted.
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meanwords
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May 11, 2022, 09:21:18 AM |
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Man, LUNA & UST just solidified bear. It kinda sucks but I guess black friday sales.
I really doubt they can recover. Stablecoin runs on trust and that's the one thing they lost the most.
I just hope UST & LUNA disappear from this space. Largest ponzi scheme this year. Didn't even last that long before the shitshow happens.
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