Good morning everyone, i know you're all feeling the bear Market but what can we do? The market has to do it thing, we just have to manage our risks🤗 Let's stay Strong💪 .
Today I'm here to talk about {{coin:LUNA}}
TerraUSD is an algorithmic stablecoin whose value is fixed to $1. Unlike traditional stablecoins that are backed up by fiat currency and hard assets — including government bonds or even gold — UST, as it's known, has its value set by a computer algorithm. If UST rises above $1, traders then sell luna to convert into UST, which pushes its price down.This rapid decline has pushed LUNA out of the top 10 list of tokens by market capitalization, with LUNA's market cap now below $12.5 billion.
Over the weekend, hefty selling of UST forced its value below $1, exacerbating the downdraft and prompting developer group Luna Foundation Group (LFG) to step in and pledge to shore up the stablecoin.
And over the past several days, market volatility across crypto assets has been significant.
The stablecoin market is very important to the proper functioning of many aspects of the crypto market. If investors lose faith in the underlying value of stablecoins, the potential for market contagion to take hold is real.
Do you see how News Can affect a good coin? Last night after i got liquidated from my {{coin:REN}} long i was gonna go to bed, a friend called to give me the News about {{coin:LUNA}} so i took the opportunity to short it. If anyone tell you, the only thing you need in this market is Technical analysis, they are very wrong,You Need the Fundamental Analysis along side your Systematic Analysis, only then will TA help you succeed. Even in bear market, there's opportunity, you just have to look for it. If you are holding Luna for sometimes now and you had to sell at loss, i feel your pain but don't give up. It will be worthy someday! 🤗
Key Take Away:
1. The stablecoin pegged with the project you invest in is important, you have to do your DD(Due Diligence) not only on the project you're investing in but also the Stablecoin pegged to it
2. You need to put on tweets notification from projects you invest in on Twitter, it's 🤷the fastest way to keep you updated.
3. You need to understand the importance of Fundamental Analysis.
4. Invest wisely and smartly.
#JAYBLISZ #WAGMI #WOWS #GetFreeBTCwithKuCoin
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