Many Vietnamese people still play games of chance with Luna
Although Luna continued to plummet, Hoang Phuong still spent 100 USD buying this token on May 13 and suddenly saw the amount increase to 5,000 USD the next day.
“On the evening of May 13, when Luna big discount about $0.00001 per coin, I think I should try my luck. However, I did not dare to buy a lot of money and was prepared with the thought that I would lose 100 USD to put it in,” said Phuong, living in Quang Tri.
Many people are still trying their luck with Luna even though the token price is in free fall. Image: Investmentu
Immediately after buying, Mr. Phuong was even more sure he would lose his money when he saw a series of cryptocurrency exchanges suspending the listing of Luna. But the next morning, he couldn’t believe his eyes when the price of this token reached 0.0001 USD, making the amount of money multiplied by 10 times. He continued to hold until the afternoon of the same day when this token reached $0.0005, then sold it and collected $5,000.
On social networks, some people also boasted that they had spent from 10 USD (the minimum amount to trade on some cryptocurrency exchanges) to several hundred USD and received thousands, even tens of thousands of USD. “It’s like a lottery, I determined to lose 200 USD to spend on the morning of May 14, but unexpectedly in the afternoon I received nearly 1,000 USD,” Facebook account Viet Nguyen wrote on a digital currency community with more than 100,000 members. The thread received more than 1,000 likes and hundreds of comments, with some saying they were similarly lucky.
However, not everyone is so lucky. Witnessing the Luna token increase and much discussion, on the afternoon of May 14, Nguyen Thanh (Tra Vinh) decided to spend 1,000 USD to buy Luna for 0.0004 USD in the hope that this token will have a higher price. However, his account had about 700 USD left after only one day when the token dropped to 0.0003 USD, forced to sell to avoid further losses.
Topics about Luna currently continue to be debated on social networks. Many said they made a profit when the market fluctuated, others even hoped that Luna would return to the “golden age” as before, or at least to the price of one dollar. “I’m holding more than a million Luna coins. If it’s worth to a dollar, I’ll be a dollar millionaire,” one person wrote on the website. Facebook.
The price of Luna suddenly increased from $0.00001 to $0.0007 per coin on May 14. The source: CoinMarketcap
However, those who understand the cryptocurrency market say that people should not be subject to FOMO (fear of missing out) to avoid losses.
“Luna is continuing to fall in price. The last bounce was not too strong, it was just a ‘bait’ for others to follow,” said Anh Bang, administrator of a Facebook group about digital currency with more than 150,000 members and have 5 years in the cryptocurrency market, recommended. “If you continue to buy, players may have their accounts split, because there is no sign of Luna and stablecoins UST will be controlled”.
According to Mr. Bang, it is impossible for Luna to reach the 100 USD mark or even 0.1 USD. Besides the project being adrift, he reckons that Luna’s total supply is now close to 7 trillion tokens, thousands of times more than it was at $100, when the total supply was just one billion tokens. Even if the team behind this digital currency “burns” the coin, processing all 6.9 trillion tokens is impossible because it costs a lot of money and is unlikely to succeed.
Phan Hoang, a blockchain and cryptocurrency expert, said that when players have put money into Luna, they need to determine their loss, so they should spend a low amount to avoid losses. At this point, he also advises players not to continue buying Luna. “Betting on Luna can help the lucky ones have a little more money, but this amount is not much. Things that go up vertically will also fall in the same way,” this person said.
Before that, Luna’s collapse was considered a disaster, which is The “stain” of the cryptocurrency market. It is surprising because this cryptocurrency is classified as a “top coin”, is among the 20 strongest coins by market capitalization, has a clear development path, is invested by large funds, so it is very popular. believer. Although there are no specific statistics, a cryptocurrency expert said that the number of people investing in Luna in Vietnam is not small.
Currently, the team of Terraform Labs – the company behind Luna and UST – is still working hard crisis resolution. Terraform’s 9x CEO is Do Kwon admits things are currently out of control and could consider creating a new Luna token.
Bao Lam
at Blogtuan.info – Source: vnexpress.net – Read the original article here
