For various reasons, the Luna protocol tanked over the past few hours from $87 on the 5th May, 2022 down to $4.50 this afternoon (11 May, 2022).
You can find out more about Luna and Terra.
Here is what some legends on Crypto Twitter are currently saying about the Luna blood bath and crash today:
Is this the end of Luna, or a buying moment of a lifetime?
Do your own research. Make your own decisions.
Do Kwon is the CEO of Luna and Terra and just wrote this on Twitter:
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It’s a volatile mug’s game for sure. Looking at the price charts at 8am yesterday it started bouncing back – it was 87c at 8am and by 11am it was back up to $5.44 (6x return) before crashing back to 77c. Will it crash or rebound? Who knows.
If I was at the casino I would probably throw some lunch money at it thinking it will rebound again (at least for a short time). There would have been a lot of ‘automatic’ sells happening so people may buyback in the hope it will come back. But don’t bet the house on it – it’s EXTREMELY high risk.
https://coinmarketcap.com/currencies/terra-luna
I prefer the term, “degenerate’s game”. And sometimes it’s fun to be a degenerate. Some people like high risk, high reward, some people like to buy low and then hold for years. You decide your own level of involvement and your own game.
How about now at 0.30c ??
Crypto Armageddon.