Articles are flowing out quicker then the market can react! Even while writing this I have had to update my numbers!
TerraLuna, the once top ten crypto coin, plummeted from $86 last week to $0.86 cents today. That’s a -99% drop in the past seven days.
All cryptocurrency Telegram channels started to BOOM with Terra Luna USD talk.
Reddit.com/r/cryptocurrency has had its limit of Luna posts maxed out for the past 48 hours.
Gamblers came out of the woodwork and started to buy LUNA at sub dollar prices and UST at sub dollar prices in hopes they will bounce back and they can make a quick profit.
Some have even succeeded.
Not long after falling below $1.10, LUNA shot up to $4.13, netting these degens who bought in 200-300-400% gains in under one hour!
Terra’s stablecoin, TerraUSD (UST), that’s MEANT to be pegged at $1, has fallen to $0.26, bounced to $0.54, dropped to $0.30, and bounced again to $0.46, all in a few hours - netting people 2x-3x-4x gains.
This is textbook manipulation during a death of a cryptocurrency.
For those participating, this is a dangerous game of roulette.
Traders are abusing this market meltdown, some might actually be making a killing during this unprecedented volatile time.
Thank you all for reading. I post educational material daily.
Subscribe to learn more!