Terra (LUNA)'s been going downhill at a very fast pace ever since UST lost its peg a few days ago. It went from its ATH of $120 to just $0 in a few days. Right now, the cryptocurrency is struggling to reach $0.01 as investors continue to sell it like crazy. Supply is increasing at a very fast pace, as the team tries every effort possible to help restore UST's peg. Given how low Terra has fallen, I wonder if investors will gain back confidence in the project sometime in the future? Crypto is highly risky so either LUNA dies or rises from the ground up.
What do you think? Are there hopes for LUNA to recover some time in the future? If not, why? Is it a great idea to buy the dip now? Your input will be greatly appreciated. Thanks in advance.
What do you think? Are there hopes for LUNA to recover some time in the future? If not, why? Is it a great idea to buy the dip now? Your input will be greatly appreciated. Thanks in advance.
I am not to familiar with the Terra ecosystem as i never held any Terra myself and i also never used UST as my stablecoin so i don't really follow that drama regarding Terra Luna that closely but of course i also heard what happened and what they are planning to do now in order to make sure that Luna comes back and that a dump in the price like UST took it a week ago will never happen again. I personally also read a few statements that said that the plan of Terra to go onwards from now on are very in favor of the team behind Terra and not really in favor of the small holders of Luna but i don't know if that is true or know.
What i know is though is that i will not invest into Luna now, even though many seeing it as a extremely high risk gamble at the moment with a possibility of x100 or more, but i think too many people are hoping for that and even if the project would recover the sell pressure would be way to high.