BLOOD BATH! What's Next? #LUNA #UST
BLOOD BATH:
This is not the first blood bath we have seen in the DEFI space. A whale exited its position disturbing pegged UST. People woke up to see an algorithmic stable go down. 10% loss, 25% loss, and even 50%+ loss in LUNA PRICE. LUNA which reached the high of 119$ high is seeing the lows of 23$. Some predict it can even go to 15$ or even lower.
LUNA AND UST RELATION:
You can learn from the examples of algorithmic stables like HBD, and DEC. Which algorithmic stable can be different from one another. In the HBD case HBD Stabilizer of smooth algorithmically stops is to reach above a dollar and in the process increases our HIVE funds.
In DEC case when prices rise we observe higher rewards from battles but when DEC price falls we observe a lower supply.
In the LUNA case when UDT falls below or above 1$, LUNA incentives people to hold and buy UST to stabilized its value either by burning or adding LUNA to the supply. Like ETH, LUNA has there own ecosystem which charges fees in LUNA.
When UST falls below a dollar you can trade UST for 1$ of LUNA. So, when UST falls below a dollar people rally towards luna and dump it on the market.
LUNA TWITTER UPDATE:
LUNA has a great ecosystem with a stable coin different than the others. LUNA is backed by institutional investors but they can lose faith in project that is unlikely to happen.
EFFECT ON BTC:
LUNA has reserves in BTC that they can sell to end this FUD for a short period. Some Future traders are short on BTC waiting for LUNA to dump its bag of BTC. But BTC can absorb this sell pressure. More to this if the market of BTC falls even lower Microsoftstrategy can get liquidated in their BTC position but they have plans to stop it. Have bears entered the market? Hard to tell. BTC shorters can get mad if stop loss hunters timely trap them. Whatever happened, LUNA is a player in DEFI and whatever happened to LUNA can affect the sentiments of investors in some ways.
MY STRATEGY:
I got my hands burned before and can handle the risk. I am using a percentage of my portfolio with a buy price of 33$ LUNA. The sell order is 15$ as I will exit my position in losses if it reaches 15$ with a loss of 54%. I will take my profits on 49$ as a sell order and exit with a 48% profit.
This is a critical situation in the market and I am ready to catch the dropping knife. I got my hands burned, it will be not a new experience for me and even if this fails, I will still be OK with my losses. I did some research on the situation and took this decision. If you read it this far then before investing in anything always do your own research.
https://twitter.com/KillerO7/status/1523995555466301440
https://twitter.com/DLMMQB/status/1523998389968506880
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Terra failed the first test. I wonder how they will regain that trust.
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It's a wild west anything can happen.
i must say i would not go out in a minus 45% spot, but i do get your resoning... i was very lucky this time i sold my stuff and got liquid before the crash, i am not making a list of buy backs and new stuff i can invest!
Those who bought UST thought they bought a stable in liquid. So, ya even in stables anything can happen.
it's sad to see the UST stablecoin falls and then luna to dump down to 29$ now. But hope it gets back again when the bull comes
I am ok with bulls and bears both. They r the reason of taking money from impatient and giving it back to patient once.
Is hard to be on the crypto currency because of the instability of the market today but we need to be stand up because the people today don't understand but this is the future and gonna be better but we need to pass this kind of process annoying
It reminds me times when hbd was below a dollar. Stability will come again. There is blood in the streets for sure but FUD can't remain forever.
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wow, bro that is a really insane dump in price, I am grateful that I haven't invested in that much crypto hive is an exception 😅, I will keep buying hive if it will go to .11 USD without a fear. That is not going to happen of course. I hope you will recover will loss soon bro 🤞
I didn't loss in LUNA, I am trying to catch a dropping knife.
good luck bro I hope you will grab a good profit from the dip and share that profit with me 😋
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Sounds to me that you have s sound strategy. Thanks for sharing.
I hope you found it useful.
I bought some cLUNA yesterday with a 10% discount at ~40$. Started the slow burn process to Luna which lasts about 21 days. Interesting to see where we at when it's done.
Many people are locked in luna for yield. I sold at 15$ and take my losses.
As it seems now you made a wise decision
Also, I mentioned that in my blog that I will sell at 15
Yeah I remember reading that. I'm just gonna see this through with diamond hands. Rough ride.
mango my guy..welldone..the fall in market is actually AFFECTING alot of people..i hope all gets bACK TO HOW IT WAS..
This crush is a lesson and them experiencing it early and learning from it. Will just make them gaint stronger. It's a tough street and navigating it, is no way simple as long as they fail forward all will be fine in the long run I guess
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WHEN MOON, WHEN LAMBO? xD
Shit happens, but this was deliberate by Blackrock, pretty nasty stuff. They really fucked lots of people with this… And tore down the entire market with it. How do such people sleep at night?
Like we sleep.