What happened to Terra Luna's value and is it recoverable?

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What happened to Terra Luna's value and is it recoverable?

Terra LUNA is in the spotlight everywhere as this 10th-ranked project in the coinmarketcap has lost more than 99% value within a very short time. Terra is experiencing a free fall without any strong support as the selling pressure of investors increases and the faulty algorithm of Terra protocol kept minting the new LUNA to keep its value going down while attempting to stabilize the stable coin UST. Here, Luna and UST are co-related. Now LUNA's price appears at $0.00009989. Alright, essentially Terra(UST) and Luna(LUNA) are the two currencies in the Terra Ecosystem in which the UST peg was automatically adjusted to $1 by the automated algorithm but now, the situation is different because the so-called stable coin UST is down under 10 US cents.
Will $LUNA recover? $LUNA price in Q3
Frankly speaking, investors have lost huge amounts in both LUNA and UST and some emotional messages from the victims are getting viral on the social media sites that’s why it is always advised not to put all eggs in a single bucket as you have to eat, travel and survive by using your savings. Anyway, Terra Foundation has proposed a governance proposal to restore the TerraUST peg and it is better to wait for how their plans work to revive the project from the bloodbath however so many analysts are telling that the plans proposed by the team are more likely to fail. The recovery process is looking complicated as they have to burn out the excessively minted luna and restoring the peg to UST is another matter of discussion.
In essence, what does the TerraLUNA incident means to the entire crypto community? The straight answer is, that you have full control of your money, you have to think so many times with extreme caution while investing in highly volatile assets. We have prepared some questions to ask our Experty members, and we are curious to hear their opinions on Terra LUNA and if they have lost their investment in TerraLUNA, and how they are managing the situation.

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We have asked 5548 Experty community members questions related to "What happened to Terra Luna's value and is it recoverable?". We have received many valuable replies, the best ones (based on Experty community feedback) you can read below.

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article avatarJustin Ogden

Crypto Enthusiast

What is your opinion about the Luna crash?

I guess when i looked it up it has something to do with ust so the volitility of luna is very extreme at the moment so the blockchain was halted

Did the Luna value crash has affected you in any way? Please elaborate.

It has affected me, i had none but i had $4 of ltc so i traded it for usdt and bought $4 worth of luna. 50,000 luna so cross fingers it goes up again

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

I think it will recover and a big deal will go against crypto making it steady for a long time than it will boom again. Luna will recover especially if it was never considered a scam so i think i might have just made a smooth move but if not i only lost $4 but i think i will make lots off it, after it goes back up i will trade all for something else more stable.

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

$3 is a good guess because it was at $6 something and people will be weary a little but but i can see it being over $10 before next year hits. I am going to look more into this though and maybe invest a lot more idk.

article avatarDzaky Wijaya

kerja

Did the Luna value crash has affected you in any way? Please elaborate.

It's unfortunate that a project as good as Luna has to experience such a deep crash and this could be for learning and I feel very, very uncomfortable with all of this

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

I'm no longer interested and it seems that many investors don't believe in investing in Luna anymore with the incident yesterday, investors will think again

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

0,005$

article avatarLia Juana

Never DM You First

Did the Luna value crash has affected you in any way? Please elaborate.

Yes , of course LOL 😂 i have some $LUNA ON Delegate , is bad news for Delegaters , how many Dollar have ready lose for this moment ? Loss So many millions of dollars lost instantly, this is a blatant money laundering that is clearly detrimental to everyone!

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

This is very bad and heartbreaking news in the crypto world definitely not! why? Yes, CEO Founder Do Kwon is very irresponsible for this incident, of course, investors are very hesitant to return profits, of course the price will be played by some mafia

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

Under 0.1 cent

article avatarOsita O Victory

A young crypto enthusiast

What is your opinion about the Luna crash?

This is actually looking like a mismanagement of funds from the team, they went ahead to sell a large amount of Their UST without having any backing for the pegged value of their UST. This made them mint more Luna and Luna price kept going down. People lost money, not just from Luna but also all coin in the network lost almost 95% of their value.

Did the Luna value crash has affected you in any way? Please elaborate.

Yes, I had a lot of Luna based coin such as the Loop, loopr, TNS, halo, STT, and many more and they were all dragged to the mud. My UST WHICH WAS MEANT TO BE VALUED AT 100$ WAS NOW VALUED AT 11$

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

This is a case of 50/50 as the GAM holding has made an offer to support Luna with the sum of $2B to $3B and also the total supply of Luna will be burned down to 1B.

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

1$ to 6$

article avatarAnatolii Yuziuk

Crypto holder, NFT creator

What is your opinion about the Luna crash?

The creators of Luna made a mistake in managing their project and now the coin is not attractive. There was a big hype. I will not trust Terra Luna.

Did the Luna value crash has affected you in any way? Please elaborate.

Yes, I had Luna mounts staking on Binance. I had to take them out ahead of schedule. The price of the coin is very low. I'm sorry for the money spent.

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

I don't think the coin will recover. Since major exchanges such as Binance closed many projects on Luna. It will be difficult to regain their trust, and even more so the trust of people. Let them arrange free distribution (faucet) Luna.

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

1 Luna = 0.001 uah

article avatarFerry Setiana

Advertiser

What is your opinion about the Luna crash?

In my opinion: LUNA was deliberatery sacrificed to cover UST 's losses. It's ver sad because many people lost their money. Including me lost a lot of money in Stake LUNA .

Did the Luna value crash has affected you in any way? Please elaborate.

Very influential because I lost a lot of money. I stake 188k LUNA in 30 Days lock. Value $188k now it's worthless. Work just $9 and non- tradeable. LUNA Delisting in many market.

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

In my opinion about the future of Crypto. If the Central Bank raises interest rates, many people will choose to invest in deposito or buy and selling securities so that it has an impact on Crypto price. Maybe big players will sell their asset so that Crypto price will decrease sharply. I hope LUNA can rise up like DAO did in 2016.

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

Maybe $0.1 I hope LUNA price in $1

article avatarTomasz Orłowski

Genius Tomasz Orłowski

What is your opinion about the Luna crash?

Life is also different in this topic of increases and decreases. There are factors that influence the fall in prices, as in this case. Life is life

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

I think about this but shit coin have a small chance on something in futures. Sometime Luna can will recover but i think not in this year, meybe in long future

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

0.00005 $

article avatarAbegail Prado

Teacher

What is your opinion about the Luna crash?

Im so much worried about the investors that invest in terra luna and it crash like crazy. But right now, I know it will recover since It was listed again in binnace after delisting it

Did the Luna value crash has affected you in any way? Please elaborate.

Yes, Because As a crypto community, I feel sorry to my crypto friends who take risk all in and it crash. Im really worried and I was so affected because I believe that crypto is very risky just invest what you can afford to loose

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

Yes I know it will recover indeed because the team is doing their best to make it succeed for the second chance and even CZ of binance give chance to the LUNA team

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

I think luna will fall on 1$ on 3rd quarter of 2022

article avatarRick Spindler

Investor

What is your opinion about the Luna crash?

I lost a great deal in LUNA. But I knew the risk. I simply felt that UST was collateralized enough to prevent the machinations of the raider. I thought UST was too big, but I was wrong. I also felt that Terra - the network infrastructure - was developed enough now that we would not see it overrun, which resulted in users being unable to cover their leveredged Anchor loans. Again, I was wrong. I knew I shouldn’t be riding my motorcycle without a helmet, but I’m not blaming anyone because I hit a tree. The network infrastructure will be saved and most projects will migrate to Cosmos blockchains. The individual developers will write code and deploy it on app chains - and many of the budding Cosmos app chains like JUNO will flourish with the influx of talent. This is the equivalent of a Formula 4 racing team hiring last years winning teams mechanic. But LUNA and UST are done. There is no coming back. We bet on them and lost. The talent that built Terra will leave. And as a result, there will be no Anchor protocol to earn 20% on your crypto. 10% return on Stablecoins will come to be seen as fantastic and sustainable. This is the new reality.

Did the Luna value crash has affected you in any way? Please elaborate.

I lost more than 400 LUNA. And I had UST deployed in liquidity protocols all across the Defi space. So, yeah. I was effected. Bitter? Not really. I knew the risk.

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

LUNA will not recover. Not simply because no one will trust Do Kwon. Money forgives hubris; that just takes more money. But we will never see another completely algorithmic stablecoin. All Stablecoins will be collateralized, so the basic use case for LUNA no longer exists.

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

Effectively 0. It will never be exactly 0 for the traditional reasons, but LUNA will become valueless as people come to terms with the idea that the talented developers that built the Terra Network are no longer contributing.

article avatarEhsan Abdollahzadeh

Digital Marketing at Ehsanam

What is your opinion about the Luna crash?

Luna was a top crypto project with a large market cap coniser as a blue chip for alot of investors and I was so optimistic about the project and based on the chart in could explode upside any time buy unfortunately it went the opposite shaply which surprised crypto investors and traders!

Did the Luna value crash has affected you in any way? Please elaborate.

Yes, I was in a 20x long on that time at the price around $89 which it was keep going down sharply and I added more Luna to the position 4-5 times in order to have better price entry, but unfortunately finally gave up closing the position at the price of $36 with around 90% loss and started shorting it at the price of around $8 which went the oposite again and I lost the rest of my portfolio. So the lesson for me out if this was I shouldn't be optimistic about any project that much which avoid me to not having stop loss even if the project be so puplar and with large market.

In your opinion, what will happen next in the crypto sphere? Will Luna recover?

Crypto is still in the early stages and there would be a lot going on in the future, however I believe for Luna it may takes a bit more time to recover back.

What is your price prediction for Terra ($LUNA) in 3rd Quarter 2022?

Around $6-$10

This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.

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