SNEAK PEEK
- LUNA’s celebrity holder, KSI documented his losses on social media.
- Connection between UST and LUNA is the reason behind LUNA’s drop from $62 on May 9 to just 1 cent.
- LUNA token is facing severe hyperinflation.
Looks like LUNA’s downfall has turned into a downfall for British YouTuber and Rapper JJ Olatunji aka KSI. Expressing his loss, the British celebrity took it out to Twitter and disclosed that the $2.8 million he invested into Do Kwon’s cratered cryptocurrency, Terra (LUNA), had plummeted to a new valuation of less than $1,000 in a day.
My 2.8 million dollars is literally worth $1000
HAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHA. Yeah I’m packing this in 😂😂😂😂 pic.twitter.com/qeiVN5yG2w
— KSICRYPTO (@ksicrypto) May 12, 2022
LUNA was partly designed to assist its algorithmic stablecoin TerraUSD to maintain its peg, or stable $1 value (UST). However, things turned upside down on May 9 when UST lost its stability and has since fallen to only mere cents.
KSI who has over 40 million subscribers combined from his channels, seems not in a mood to sit silently. He has been actively tweeting about LUNA on his crypto Twitter account. Taking a dig, he said:
I just put $2.8 million in that LUNA buy and it’s worth less than 50k. But that’s ok because I’m not dead. I’ve got my family, my friends and my vigorous work ethic haha.
However now im finally at peace with myself. I just put 2.8 million in that Luna buy and it’s worth less than 50k. But that’s ok because I’m not dead. I’ve got my family, my friends and my vigorous work ethic haha
— KSICRYPTO (@ksicrypto) May 12, 2022
His other tweets mocking LUNA were:
The sad thing about this $LUNA situation is that it will just make the general public steer CLEAR from crypto
— KSICRYPTO (@ksicrypto) May 11, 2022
In total I have bought about 100,000 Luna. Sticking it in a wallet and gonna see what happens in a few years. Could be the best/worst trade of my life. I saw an opportunity and I had to take it.
— KSICRYPTO (@ksicrypto) May 10, 2022
Crypto isn’t a new experience for KSI as he revealed losing around $5.1 million in 2021 while trading crypto. According to his share of experiences, it seems he has learned his lesson, since he said that he had made a lot of money and lost a lot.
Sharing the same, he tweeted:
Before crypto, money was a driving force in my mindset. During my time, I made a lot of money, and lost a lot of money. I went from euphoric to depressed. But soon I became numb to it all and realised that money simply isn’t everything.
— KSICRYPTO (@ksicrypto) May 12, 2022
Though some might think that now is the golden time to buy, they shouldn’t forget that LUNA has an unlimited supply and is under hyperinflation.
$LUNA supply is unlimited guys. It will trend asymptotically towards 0 but never hit 0
$100, $10, $1, $0.10, $0.01, $0.001, $0.0001 and so on, until the peg is regained or liquidity is 0.
Don’t buy at $0.01 thinking it will go back to $10. You’re getting hyperinflated
— 🍊juice ⌐◨-◨ (@ojuice_eth) May 12, 2022
