Luna is now $4 while UST is $0.3

I was just looking at the crypto chart hoping for the best and I was stunned..

UST is now $0.3
LUNA is now $4

OMG!!! This is so devastating..

Thank God I just had 6% of my portfolio allocated for LUNA with zero UST. I exited my LUNA position yesterday with 50% loss, that was better than losing it all. I’m blessed that I just lost around a $100.

I can’t imagine how those who had tens, hundreds of thousands or even millions in UST and LUNA feel right now.

God help you all really. Even those insured will struggle to get any money back from the insurance companies who claim to cover depegging.

Update : Luna is now $1.6

Update 2: Luna is now $0.4 😨

In Crypto remember these rules..

1. Diversify as part of of a larger plan.
2. Always invest what you can afford to lose.
3. Never take loans or sell your house and go all in.
4. Don’t invest, till you have paid all CC dues and kept an emergency fund in place.
5. Invest in blue-chip, not poop coins.
6. Don’t be lured by high APYs, it’s always about the fundamentals .
7. Don’t shill coins to others if you don’t understand them.
8. Stay away from anything that smells like ponzi
9. Don’t invest in DeFi native coins if you can’t handle 99% volatility during bear markets.
10. Invest only what would make you sleep peacefully at night.

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34 thoughts on “Luna is now $4 while UST is $0.3”

  1. The thing is, people were entering echo chambers that stated that ust was safe, guaranteed 19% return etc. Risks were downplayed and the mechanism for repeg was hailed as the holy grail.

    Half a year ago or more I had posted about my concerns of ust, of course instant downvote.

    Reply
  2. Damn was just putting funds together to start staking on the anchor protocol. Glad that didnt materialize quickly

    Reply
  3. I knew something was off when their borrow apr was in the negatives (-2%) yet were giving lenders 20% apy on their money

    People weren’t getting paid on both ends regardless, it was never sustainable, and I’m glad I won’t be getting downvoted this time for stating the truth

    Reply
  4. 1 additional piece of advice – always check what competing protocols are saying about the protocol you’re interested in. This is especially true for newer projects that have a much more vested / hype-driven community.

    Reply
  5. I have approx $1k in UST on anchor earn. If I lose it I won’t lose any sleep. I feel just will recover long term. People have short memories. Many have exited their positions with losses and new investment will come in. But I won’t buy any more just. Am done with algorithmic BS stablecoins.

    Reply
  6. Let’s take bets: which will hit $1 first, Luna or UST?

    In all seriousness, shame on the numerous people all over this sub who relentlessly shilled this obvious Ponzi scheme. The fact that there are *still* people defending this is just crazy to me.

    I and others warned constantly about UST yet none here took notice and instead just attacked.

    Reply
  7. I moved about 2/3 of my UST out and took the hit at 97 cents, got into USDT (and some bitcoin and ether, gotta buy the dip) – RIP to the last 1/3. I will leave it until things calm down and then see where they are. I’m so glad that I didn’t wait.

    Reply
  8. Did no one learn anything from $OHM/$TIME? If your investment requires “faith in devs/staking” it’s all gonna come crashing down at some point

    Reply
  9. I am afraid this is going to shake the confidence in the market. I believe UST will recover, but how will confidence stay? This is why I do not go for algo stablecoins…something like this can happen. Have some USDC and eMoney who are pegged with real assets.

    Reply
  10. Allot of people bought into the Luna hype because of at least two YouTubers that were chilling the coin and eco-system as a marvel to crypto….

    Reply
  11. Seriously, I almost fell for this just last, I was there pressurizing blockbank team to list UST among their available stable coins, but they were adamant to it, only maintaining their USDC & USDT, by now, investors would have been on deep sh**t, thank goodness.

    But will things ever goes back to normalcy with LUNA & UST u/rabihwaked?

    Reply
  12. This sucks, and sorry you lost that much to D Kwon’s Ponzi,

    1-8 are it for me

    So what i do in other to diversify is to strengthen my skills of P2E, Axie infinity is such a life saver initially in my gamig jurney, of recent i have found out Honeyland a better and more efficient game built on solana ecosystem

    Reply
  13. No way are you serious that’s crazy. I just checked coin market cap that’s insane .
    I few weeks back I was looking to invest into Luna but I’m glad I changed my mind Dam.
    My friend invested into Luna.

    Reply
  14. Is it going to go back up or is it done for? I heard the CEO was trying to get funding but that sounded a bit unlikely.

    Reply
  15. Hopefully things like this will over time teach unsophisticated investors in this space why you need to diversify instead of YOLOing your life savings into one asset. Hoping in time it will become the rule rather than the exception. It’s hard seeing people contemplating suicide over this kind of thing and seeing the suicide hotline pinned to the top of the LUNA subreddit.

    Reply
  16. It’s so unfortunate that a lot has been happening of late in the but then I believe this will open the eyes of many to so many opportunities in the space and what they have been doing wrong.

    As you rightly said diversification is a key area that needs to be put into consideration and luckily I get to recognize that earlier with Spool and with the platform design it’s sure to be of help in a market situation like this.

    Reply
  17. It’s a truly stunning collapse and regulators will be sinking their teefs into this story. I hope they can differentiate algo v collateralized stable coins 🫤

    Reply
  18. It is very important to diversify. Big ups to OP for making it the first point on the list. I know a lot of people are panicking right now with the crazy shit going on with UST and LUNA. I was pretty much fortunate to learn how much diversification matters at Spool and the yield strategies designed on it that spreads across 3 to 4 yield protocols. It would have been catastrophic for me too as well. Whether Luna/Ust recovers or not, there may be some losses but I am all good, thanks to a well diversified portfolio.

    Reply
  19. When I diacovered pancakeswap around 2021, I thought I found a magical money making mechanism with a huge apy, I got in when it it around 30-40$.
    Then by the end of the year I quickly found out that you can’t propose a huge APY without huhe token deflation, I finally sold my bag with a 50% loss, the APY helped in mitigating the loss a little bit (would have been 60-70%).
    I learnd about the Anchor Protocol and its guaranteed 20% APY, followed by arguments like “it’s because there are no middlemen dude”, and dediced to never touch it, I knew it couldn’t be sustainable.

    Reply

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