LUNA and UST have really brought more publicity and audience to the crypto community but not the good kind of publicity, the way so many people view crypto now is not as it should be thanks to the Tera LUNA and UST crash, the only positive to take away from the LUNA and UST collapse is that it helped us find the bottom faster, All weak paper hands and panic sellers are now double out there. In my opinion, the LUNA and UST saga has succeeded in giving people who were not sure about their stands on crypto a reason to doubt and leave crypto, with the intention that crypto is a scam or Ponzi scheme. Although what happened to LUNA would have made the move to stablecoins a safe heaven, but it happened to UST too crashed, so if they were on the fence before they are now out completely not for crypto, with some people withdrawing their funds from crypto and converting it to fiat.
LUNA is now forming a good foundation for pump, after the CEO Do WON has finally accepted that LUNA has crashed completely, after being delisted by binance, but they have plans of a come back as they propose to distribute 1 billion tokens amongst LUNA and UST holders, the question here is would crypto investors ever trust LUNA and UST projects again?, and would it would the 1 billion tokens be distributed to all investor who held their coin before It dropped? to the extent that Binance had to delist the coin but now that Binance has tweeted about relisted them. Binance has resumed LUNA/BUSD and UST/BUSD spot trading pairs which is a good thing and a great news, it would be good for a pump if in the future hopefully after all these chaotic scenarios and bear market, is over.
Even though UST is not a major stablecoin like USDT, USDC, and BUSD. it has shown people that there is a possibility of a stablecoin having a bank run and not being a save heaven for crypto anymore. And right now the major players in stablecoin remain USDT, BUSD, and USDC. Make sure you diversify your stablecoin portfolio among them. Very important just in case they want to move mad, which is highly unlikely to happen, because all my life I have been in crypto UST is the first stablecoin I have seen crash and crash that fast, the Luna team did not handle this crisis very well. Tera Luna blockchain is halted now, so those who want to sell cannot sell. And those who are holding Luna now are major because it's worth less right now and holding is a better bet than selling. I just hope they come back stronger.
THANKS GUYS FOR READING MY POST.
PLEASE FOLLOW ME ON:
Discord: onwugbenuvictor#3447
Twitter: @VictorOnwugbenu
Posted Using LeoFinance Beta