This is the perfect time to ask! As many know, Terra Luna has dropped significantly over the past couple weeks. I think it dropped somewhere around like 99.9999%. Many people lost big time. The last I heard Luna was trading at $120 per coin on its peak. It dropped to small fractions of a penny. This was very unfortunate for may people. This is why I always suggest to only invest in things you believe in long-term, this could be a small bump in the road in the grand scheme of things; this could also be the death of the coin. Time will tell what happened.
From what I understand, one of the reasons why this happened was partially the result of what is going on with the market as a whole, which was a wonderful swan dive into the asphalt. Just another day in the Crypto space. The other contributing factor was that the people in charge of Luna tried to recover some of the problems by selling off over 80,000+ Bitcoins. This ended up creating a death spiral. Many of the holders got out very quickly. I’m sure there were more factors involved, this is just what I have heard over the past few days.
Even though all of this happened, I decided to buy a little. Just enough to be around the same price as a night out on the town. For me staying home a few nights instead of taking the family out to a nice dinner was worth the risk. At this point if it drops, I lost almost nothing. On the upside, if it goes to 1% of what it was before the crash, I can now pay off my house and then some!
If you want Terra Luna, you can find it on the Trust Wallet. That’s where I got mine.
If you would like to invest in a coin that is backed up by physical assets like gold and precious metals and you want to never experience what has happened to Terra Luna by losing significant value over night, then you might want to check out Meta 1 Coin. I have only gained in value over the past few months while all the others lost big.