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CryptoDamsel
May 11, 2022

For those unfamiliar with Luna’s stablecoin system, each UST is pegged to 1 dollar meaning in exchange of 1 UST you get $1 worth of LUNA.

Traders and whales are using this sharp fall as an opportunity to arbitrage the depegged price of UST with LUNA, purchasing UST discounted rates, converting it to LUNA and then dumping it on exchanges and therefore repeating the process. This is pure market manipulation wrecking retail investors.

Platforms like Binance have suspended withdrawals on terra chain but KuCoin seems to have massive sell off volume and has not yet released any announcements for suspension.

From $119 in April to $8.9 today , LUNA is falling like crazy but there's still hope for luna bcz there are multiple big projects built on terra chain.

Current priceCurrent price
LUNA'S ATHLUNA'S ATH
“98% sure LUNA/UST is coordinated by big money. They found a literal short/long ATM machine. AKA trigger a UST dump and short. LFG has to repeg it. When LFG deploys funds cut short and long. When funds are depleted, repeat. This is evil.”
twitter.comAlex Becker 🍊🏆🥇 on Twitter“98% sure LUNA/UST is coordinated by big money. They found a literal short/long ATM machine. AKA trigger a UST dump and short. LFG has to repeg it. When LFG deploys funds cut short and long. When funds are depleted, repeat. This is evil.”
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