My winnings in the crashed Luna coin

OMG !

After the Luna coin crashed, I spent $US100 to buy 7 million Luna coin near the rock bottom price of $US0.00001408, Luna coin at its peak price was $120 (350 million coins in normal circulation), I was like buying a Lottery ticket - if it ever goes back to $100 again ! ofc it probably won't with 6.5 trillion coins minted in panic, and ofc I knew it is extremely risky, my $100 investment can go to zero.  



It rebound to $US0.0006 in the following two days after I bought it, I was like OMG ! 42 times return in 2 days !

For those who don’t know the Luna/UST stable coin crash, please go read its story, it was “the  historic crash in the Crypto world, the guy in the photo is the founder of the Terra Luna ecosystem named Do Kwon.



But just in short, Luna coin belongs to Terra’s blockchain which host an ecosystem of decentralized finance they boast to replace the USD system with a stable coin UST. It is based on its UST/Luna peg, (it has a mint/burn mechanism with Luna as the collateralized asset), to make UST to stay as a stable coin of 1 USD. A lot of people herd to put their savings in the UST coin for a 20% interest rate return, at peak, its market cap worth is about $18 billions and Luna $40 Billions. The peg was attacked and broke, UST and Luna coins were over-sold too much and led to a death spiral of price dropping. On May 13, both dropped to almost zero in 3 days! $58 billions market cap in total was burned to ashes in 3 days. It happened too quick for investors to react, many people are crying over this with their hands on the face and head.

In short again, its algorithm peg mechanism caused it to mint 6.5 trillion Luna coins in 1 day from only around 350 million in normal circulation. This sure will be in the text book example of the crypto world.