Re: Will LUNA's downfall scare away investors from the crypto market?
This past week has been all about LUNA's downfall in price and how UST lost its peg at a very fast pace. Many investors lost their money as the cryptocurrency went from being worth around $80 to just $0 in a few days. There's a lot of FUD surrounding crypto right now, especially with Terraform Labs' inability to restore the peg. If LUNA doesn't recover, this could lead the whole crypto market towards another direction. As promising as crypto/Blockchain tech is, things like this greatly damages its reputation.
Do you think LUNA's downfall will scare away investors from the crypto market? If not, why? Is there light at the end of the tunnel for the whole crypto/Blockchain industry? Your input will be greatly appreciated. Thanks.
Do you think LUNA's downfall will scare away investors from the crypto market? If not, why? Is there light at the end of the tunnel for the whole crypto/Blockchain industry? Your input will be greatly appreciated. Thanks.
Luna crash has already given enough damage to the market which is evident from consistent bearish trend after this unfortunate incident. Honestly speaking it has scared away Investors which is visible when we look at declining coinmarketcap that simply means capital flight from crypto market. Market participant fear further crash in many other projects like Solana and even stable coins are vulnerable because all of them are not fully backed by Fiat dollars.
The collapse of Luna sent the entire market into a state of panic, no one could have imagined that a potential coin was born and developed for many years and today it has achieved brilliant results and collapsed almost completely in less than 2 weeks.
This has been a real shock to the crypto industry and I think people are starting to be more cautious in their investments. Luna showed us how even a good coin can collapse at any moment.