@idiosyncratic1 9 May 2022 more from that month

Red Day for Crypto - Case of #LUNA UST token has lost its peg and the FUD over the issue affected the whole ecosystem. Due to the spoiled peg, the LUNA team tried to do something by removing millions of dollars worth of #BTC from reserves and they added half amount of it back to there. Unfortunately, things do not look good for the short term #crypto ecosystem. The #FUD by LUNA obviously had a huge impact like it happened earlier in Tether. The collateral BTC on the smart contract was liquidated and the team is providing some more to hold the peg. Yet, the market may hardly recover after that shame 🤦‍♂️