I had a small investment in LUNA and when I say small it was less than a $50 investment purchased a year ago and should have sold months ago, but didn't. A lesson learned never to be too greedy as 30 x should have been good enough and one I will remember.
Snippets of information are being revealed daily regarding the build up to the downfall of LUNA. Not only does LUNA now look like a front to score $2 billion in Bitcoin for their founder as why else would he have dissolved the two Terraform labs in Busan and Seoul?
This all looks too planned and a convenient rug pull as they also protected certain whales who bailed out their UST at the Dollar price into BTC after it had already lost it's peg. If this is not a pre determined rug pull I don't know what else you could call it.
This is just fraud on a bigger scale than we have ever seen before as LUNA was a top 10 coin even though it had no real fundamentals. The sickening thing to realise now is you have the likes of Justin Sun trying to replace LUNA's UST with his USDD version. How gullible are people as we know exactly what he is capable of and is probably the most devious of the lot.
When you invest your hard earned money surely you do your homework as it is not all about the hype. The team behind the project is the most important thing as they ae the ones who you are entrusting with your investment.
A good example is when I invested in #SEED on Leodex it was purely on the individual and nothing else. The same with Kingdoms as we all know the team at Leofinance giving us the confidence to sleep at night knowing they have everyone's best interests at heart.
I am sure whoever is investing in Tron and USDD is hoping for another LUNA eclipse with a sudden price spike in the Tron price. I just don't understand people as they are sitting on their brains being driven by greed.
What we have all witnessed over the last two weeks should be an eye opener as there are too many gullible people in crypto being taken for a ride. You can understand why so many projects fail as so many actually have nothing backing them or proven as a genuine use case and are so over valued it is sickening.
There are so many good projects out there that have proper use cases yet they all seem to be undervalued for what they truly offer. These are the crypto projects that will be around in 10 years time and are building for the future. A lack of development and partnerships should be a red flag to any investor yet billions are poured into projects that offer nothing.
Unfortunately crypto is driven for the now and overnight success and no thought is given to the what if scenario as their is no plan B. There seems to be a severe lack of intelligence amongst the masses and why they are all getting caught in these rug pulls. This will only result in more regulation happening with the excuse that they are only protecting the investor.
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