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Mavis Evan
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Bullish
$LUNC Price Crash – What Happened?
LUNC (Terra Luna Classic) shocked everyone by dropping from $119 to $0.00001 in just one day!
Let’s take a closer look at what caused this huge crash.
What Caused the Drop?
1. UST Lost Its Peg:
The stablecoin UST lost its $1 value, causing big sell-offs in both UST and LUNC.
2. Money Shortage:
Terra ran into a big money shortage, making it hard for people to sell their coins, which made the price fall even more.
3. Panic Selling:
As the price of LUNC dropped, people got scared and quickly sold their coins, causing the price to drop more.
4. System Problems:
The algorithm behind the Terra system was flawed, making things worse and speeding up the crash.
5. Loss of Trust:
Many investors lost trust in Terra and the algorithmic stablecoin idea, making the situation even worse.
What’s Next for $LUNC ?
Even though the Terra team is working on recovery, LUNC is still struggling with bad market feelings. Here’s what to watch for:
Possibility of Recovery: If $LUNC can stay above $0.00015, it might bounce back a bit toward $0.00318-$0.0520.
More Downside: If the price keeps falling, it could reach $0.00012, with a chance of going lower.
Keep an eye on price changes and adjust your plans accordingly!
#XRPReclaimsTop3 #MicrosoftBTCInvestmentVote #CryptoZombieUprising #BNBHitsATH #NFTIsBack
LUNC (Terra Luna Classic) shocked everyone by dropping from $119 to $0.00001 in just one day!
Let’s take a closer look at what caused this huge crash.
What Caused the Drop?
1. UST Lost Its Peg:
The stablecoin UST lost its $1 value, causing big sell-offs in both UST and LUNC.
2. Money Shortage:
Terra ran into a big money shortage, making it hard for people to sell their coins, which made the price fall even more.
3. Panic Selling:
As the price of LUNC dropped, people got scared and quickly sold their coins, causing the price to drop more.
4. System Problems:
The algorithm behind the Terra system was flawed, making things worse and speeding up the crash.
5. Loss of Trust:
Many investors lost trust in Terra and the algorithmic stablecoin idea, making the situation even worse.
What’s Next for $LUNC ?
Even though the Terra team is working on recovery, LUNC is still struggling with bad market feelings. Here’s what to watch for:
Possibility of Recovery: If $LUNC can stay above $0.00015, it might bounce back a bit toward $0.00318-$0.0520.
More Downside: If the price keeps falling, it could reach $0.00012, with a chance of going lower.
Keep an eye on price changes and adjust your plans accordingly!
#XRPReclaimsTop3 #MicrosoftBTCInvestmentVote #CryptoZombieUprising #BNBHitsATH #NFTIsBack
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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