Open Word

Some failures may be very upsetting and make us tense up, but do you know what it's like to be someone who holds LUNA or UST in their Wallet and forgets to sell when it collapses drastically to the core of the Earth. Hahaha, sorry about my joke for anyone who feels, because I was really lucky and happy not to be holding one of those coins at that time.

Before we get to the main part, a few days ago I started thinking about this. I don't know what the reason is even though there is no profit for me. But it's just that my curiosity in this matter is so deep that I have to rack my brains. In this post, we will skip UST and focus on the LUNA coin or the one that has now been changed to LUNC (Terra Classic) because of its collapse.

Now, Let's Get Started!

When we hear about the collapse of the LUNA & UST coin, let's go back to the previous few months of last year. I looked up the stats for $LUNC which is a new coin that stands for Terra Classic which is the replacement name for LUNA after its collapse and I started tracking it with the CoinMarketCap Tracking Website and started the search. It didn't take long (unless you really have a small computer ram) and finally found the beginning of this collapse at the beginning of Month 5.

Image 1, Terra (LUNA), now is Terra Classic (LUNC), An image of the peak before its collapse.

Precisely at that time on the 5th there was a final peak of the price of $ 86.16 and with a period of about 9 days there was a very drastic decline terrible until on May 13, 2022, the final price makes LUNA holders from having Gold and finally replaced with Trash which becomes worthless (I apologize for the sarcasm). How could I not, the price that was originally around $ 80 fell to under one cent, which is around $ 0.00614. Maybe this is not too big a loss for those who start trading which is always active 24 hours a day or who trade with trading bots. What about people who don't do that, or maybe who still hope that the coin will go up again. Even though I laughed a lot before, but for a story like this, I'm really sad to imagine the loss of users. So now let's leave the sad thing behind and let's start counting the losses.

Image 2, Terra (LUNA), now is Terra Classic (LUNC), An image of a drop below 1 cent and still falling.

Actually, to calculate our losses, we can easily calculate it by looking at the daily trading volume. Here's a 24 hour volume list of LUNA day by day.

• May 5, 2022, Volume : $2.28 Billion
• May 6, 2022, Volume : $2.18 Billion
• May 7, 2022, Volume : $3.05 Billion
• May 8, 2022, Volume : $5.11 Billion
• May 9, 2022, Volume : $ 6.31 Billion
• May 10, 2022, Volume: $10.45 Billion
• May 11, 2022, Volume: $11.56 Billion
• May 12, 2022, Volume : $15.92 Billion
• May 13, 2022, Volume: $1.9 Billion

If you add up the 24 hour Volume in the 5th-13th this amounts to about $60 billion. This signifies the occurrence of a lot of buying and selling that is so crazy that the amount of "ask" is greater than the "bid" and sells massively. This collapse is very closely related to its Stablecoin, namely UST (Terra USD), this is all due to the Platform removing their terms and unstaking UST and there was a massive sale of UST which resulted in UST losing its Stablecoin function. The tightness of LUNA & UST in the Terra Network system was the reason for UST holders to exchange UST for LUNA and resulted in massive LUNA printing which rendered LUNA worthless.

End Word

As I thought, I may not be able to teach you how to stake your money in crypto to make money, but I will tell you a few things that you should know in entering the world of crypto.

• Know the risks when you risk your money
• Don't be too tempted by coins that are too at their peak
• Try to learn by starting with a minimal amount
• Prepare yourself mentally when you know your final result
• Sometimes hope might arise, but when it fails it can make you stressed and also hang yourself
• Never enter the Crypto World if you have a heart disease

That's probably all I can type for now. Some words may cut your heart, so I apologize for that. For some reason I'm currently holding a few $LUNC because maybe there's a hope to fill my pockets a little bit with a few ATMs (hopefully). Ok. That's it, Bye.