Terra Luna a cryptocurrency token coin plunged 99.50% from its value. It's the biggest crash in the history of crypto. Because that big volume of money was never gone before in a day. Simply leaves a shock to the both corporate and retail investors.
Another, programmatically pegged USD coin named Terra UST is also drowning the same day. The Idea of a programmatically backed Stable Coin has also proved to be a myth to coin holders. Well, it doesn't matter who lost the big amount. But the whole decentralized crypto world is more susceptible to such events, where a single owner or company can loot the all money of the market.
Believe me, every two years there is always an event where someone like Mr. Do Kwon owner of the Teera runs away with a full bag of money with no trace, regulation, or monitoring sign. So the full idea of decentralization is not secure enough to cover up the alternative of the future currency.As, the big brains of crypto are continuously preaching, crypto will be the future of money. But now all are just silent, like they don't even know the current market situation. Where is Vitalik, Changpeng Zhao and others, no one to comment on Luna Crash. Just ask them, did they still check the pattern or not. What kind of future money is this or some more explanation left to cover up the seen? Do community members have some responsibility or not?
Terra Luna Dramatic Ending
Why it's dramatic just see the graph and decide. Who did this, a Bull, or a Bear? Its just a manipulating data by the owner and the big players to swallow up the retail Terra Luna investors. No trading just a pre-decided pure crash. Just a ride from $80 to pennies.
Terra Luna Will Crash Recovery PossibleNo recovery is possible until the wacky ideas of Do Kown to create a new fork Terra 2.0 of the coin is in place. He just copied the Safemoon path to safely silently going to his golden gate. Just some news about Kr SEC is interrogating and seizure of his assets, all are just fake. Now he has billions of money, no one can sue him. Terra and luna made him richer.
The new coin will also not survive after the biggest failure. Somehow, recovering a current coin with a good burning ratio can help the coin to survive in the long run. But currently there is no chance to recover the investors money in any way.
Terra Luna Price Prediction
There is no chance, it will not reach $1 again. Its almost reaching 0. So price prediction is simple. It will get worse day by day. Soon the all craziness of trading the dip will end. Now token circulation is too much too push. So it will not reach the previous price levels. Luna and terra have no future to run up again like they did before. Ponzi schemes will also not survive in the future.
New Terra Blockchain and New coin Version
Currently, voting and development work is going on. No launch date has been finalized till now. It will launch soon. A full blockchain redevelopment is going on to revive the network. But there is no effort to backing up the lasted money. So don't be distract yourself in such news. It's just poof gone.
What about distribution of new coins to the holders
However, UST and Luna holders will receive some amount of new coins from the 1 billion pool. Distribution is still problematic. Also, there is a big price difference in the Luna 1.0 and Luna 2.0 prices. There may be chances of converting dollars into pennies again in this deal. New coin distribution is at a low rate 1:6500. All the fork launch is created to divert the investors attention.
Always remember, crypto tokens are just safe havens for individuals. So keep update yourself and always Invest in safe alternatives.