LUNA And UST Fisrt Crypto Coins Crash On The Global Crypto Market

By | August 5, 2022

The price of LUNA crypto coins fell 99% from its peak in less than a week. At the same time, UST crypto coins, guaranteed by LUNA’s liquidity and should be fixed at a stable price of $ 1 per coin, experienced a depreciation of up to $ 0.60 or a 33% price drop for just $ 1.

The collapse of the LUNA coin price, which has fallen to hundreds in the top 10 cryptocurrencies in the world, has shocked crypto investors around the world. Their wealth.

This is especially true for investors who invest in these two crypto coins. On the other hand, the destruction of the value of UST stablecoin was mainly due to the lack of physical assets used as collateral to guarantee a fixed or fixed value of US $ 1 which should be stable.

Founder of LUNA

However, DoKwon, the founder of LUNA and UST coin issuer Luna Foundation, provided information via Twitter on measures to restore the value of these two crypto coins. Do not change the fate of investors, especially individual / retail investors who have suffered a lot of losses due to the malfunction of both crypto coins on the world exchanges.

Due to the decline in the value of these two cryptocurrencies, many other cryptocurrencies have also experienced significant declines. It has been recorded that Bitcoin, Ethereum, ADA, BNB, XRP and meme coins such as Shiba Inu and Dogecoin have also undergone considerable price adjustments.

The global crypto market is expected to gradually reinforce after regaining confidence in crypto investors. At this time, investors around the world are looking to develop ADA decentralized blockchain technology and designs on the Cardano network running Vasil. With the June 2022 Hardfork blockchain, Cardano can double the speed and size of transactions while prioritizing the security of the blockchain network.

DoKwon’s After LUNA Crash

Seoul’s Seongdong-gu police said in a statement to the media on Friday that they provided urgent security protection to the wife of the founder of Terraform Labs, the developer of cryptocurrencies LUNA and UST, at the request of DoKwon’s family, last week. Sunday.

According to reports from South Korean media Money Today, an unknown person managed to break into the apartment where Dokwon’s wife lived and rang a doorbell through an intercom asking if Dokwon was there.

The man left the apartment shortly after Do Kwon’s wife, who didn’t want to name her, said she didn’t have a husband.

A 29-year-old Seoul-born man, DoKwon, known as the founder and CEO of Terraform Labs, is the issuer and developer of LUNA crypto coins and stablecoin UST, which he recently used and invested in. The blockchain design that caused the loss. US $ 30-40 billion investors within a week,

Since recently, Do Kwon has built a reputation as an arrogant young man who often speaks harshly and insults those who criticize him through his official Twitter account @stablekwon.

And in an interview with Youtube influencer Alexandra Botez a few days before LUNA crashed, the estimated US $ 10 billion billionaire happened to see the collapse of crypto coins and other crypto coin developers. He laughed and said he was happy and enjoyed his crypto coin rivals, whose full names are Terra LUNA and Terra UST.

Meanwhile, online forum platform Reddit reports in a few investor posts that the losses suffered by thousands of investors around the world caused many suicides.

In addition, in a forum of 52 million active members, suicide was said to be their only option after experiencing enormous physical loss and very deep mental weakness.

The main reason is that they are forced to lose their guaranteed homes and their families and jobs.

Along with many demands for accountability from friends, neighbors, relatives and colleagues who have invited you to invest in LUNA or UST crypto coins with a 20% return on investment (ROI) based on APY (annual interest))

However, at the time this article was written, the truth of the news about this virus-infected suicide since it was first reported by the Pakistani media, police, hospitals in every country, and anyone with authority. I have not confirmed. A Twitter account called @republicdotpk on May 12, 2022.

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