18/05/2022
& Fall: High Time to Revise the Basics
Terra/ Luna Fall have totally wiped off a big amount of money from the crypto market. Some of the investors have already started doubting their crypto investments. There’s high fear in the crypto market.
I was in blue reading the news of people doing suicides after losing their life savings to UST. This made me think about why we can’t always take calculated risks. What made those people put their entire money in that one stable coin (UST)... Why do we become so greedy and forget the basics?
Though there are many conspiracy theories around Luna/Terra fall. But if a stable coin like UST can become unstable in the crypto market and it further leads to LUNA going from ATH of 119$ to mere cents then, I am sorry as a crypto investor, my faith in the technology got shaken. And I consider myself lucky that I wasn’t invested in these tokens.
I support the concept of blockchain and cryptocurrencies. But, I feel it’s high time that we as a community of crypto traders and investors revise our basics and take mindful investments decisions.
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