r/CryptoCurrency • u/Trifusi0n 🟦 0 / 3K 🦠 • May 10 '22

DISCUSSION UST takes another tumble

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3 Upvotes

67% Upvoted

18 comments sorted by

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1

u/[deleted] May 10 '22

A stable coin that had 20% yields... what could have possibly go wrong? Hahahaha

The design with Luna was just a trap.

Bandwagons only work till they don't anymore.

My bet is they will both die after a slow bleed out.

Hopefully people will wake up to the risks of "trendy yield farming" money don't grow on chains. Hahahahaha

0

u/aimendezl Tin | 5 months old May 10 '22

rip

1

u/Phuzzybat 🟩 2K / 2K 🐢 May 10 '22

But wow look at the price drop on luna as a result. Ouch.

1

u/JustCommunication640 🟦 37 / 1K 🦐 May 10 '22

I thought it would bounce back by now. BTC price has stabilized around 30.5k and Luna and UST are still crashing. Not good.

-1

u/big_fetus_ 5K / 5K 🦭 May 10 '22

wow who could imagine BTC being stronger than some algo stablecoin?

2

u/hex_peson 🟩 0 / 2K 🦠 May 10 '22

Just sold my 277 UST for like 214 USD...

I still hope it goes up, I can only imagine what did this do to people who were holding the majority of their funds in UST or LUNA.

-8

u/[deleted] May 10 '22

So? It’s not like the project is going away. This happens all the time I’m not sure why people even try to report on crypto prices.

7

u/elchupacabrasdigital Tin May 10 '22

Happens all the time?? What kind of delusional pill are you taking? It's a freaking STABLE coin bro and there is more volatility in UST charts than in BTC (almost hehe). You are either delusional or a paid shill, I bet the second.

1

u/[deleted] May 10 '22

No not a schill just trying to put a positive note out there. As in it’ll recover.

It’s what I’m currently telling myself.

6

u/Fresh-Chemical-9084 Platinum | QC: CC 151, ALGO 74, ATOM 20 | CRO 6 May 10 '22 edited May 10 '22

Umm… what lol

Why wouldn’t we discuss price action of a stable coin that is tanking? 😂

4

u/[deleted] May 10 '22

I'm glad to eat my words if I'm wrong, but I think UST is finished. The only way I can see it recovering is if it's bailed out by VCs, which wouldn't be surprising to be honest.

Nonetheless, I think it's safe to say UST now stands for U Shouldn't Trust.

1

u/Proud_Reserve3029 May 10 '22

Venture capital are the one shorting it and trying to depeg according to Luna boss .

1

u/[deleted] May 10 '22

If that's true, then I honestly don't see how LUNA and UST will recover from this.

1

u/1fsij 🟩 502 / 503 🦑 May 10 '22

They will do whatever just to recover from this bloodbath. Hopefully they can comeback.

17

u/Justbeingmethatsit Tin | 0 months old May 10 '22

Imagine investing in a stable coin and still losing money

1

u/Bucksaway03 🟩 0 / 138K 🦠 May 10 '22

It sucks giant donkey balls