LUNA

_AceOfHearts

Drunk Do Quan thought he was burning more #LUNA. I DID A LOT OF MONEY BECAUSE OF THAT FUCKER TO BE HONEST! I HOPE HE ROTS UNDER A SEA OF PISS UNDER A PRISON AT THE BOTTOM OF THE OCEAN AFTER BEING EATEN BY SHARKS AND SHIT OUT.

Hubert_Lewy

bought LUNA at $60 thinking it was a discount after the first dip. averaged down twice. you know how that ended

Syrion1984

I remember the $LUNA crash just over 4 years ago. That one hurt a lot and it felt absolutely gut wrenching. Try to stay positive though and as long as you can learn from this experience, I truly believe you'll become a better trader than ever before!

Haunting_Report

This is unfortunately a pretty common experience in large crypto bankruptcy claims like the TerraUSD and Terra (LUNA) case. Once a claim gets stuck at “Additional Information Submitted,” it usually just means it’s in a manual review queue. These processes are extremely slow because administrators like Kroll are dealing with huge volumes of claims, verification checks, and legal coordination with the estate, not real-time support like people expect from exchanges.

Logical_Lemming

That was the entire mechanism of LUNA/UST. If UST was trading below $1, the Terra protocol itself would allow anyone to burn 1 UST for $1 worth of LUNA. And on the other side, if UST was above $1, you could burn LUNA for UST.

MariachiArchery

>At the time I don't think many people either understand/realize a bunch of new vector of risks that "blockchain" introduces (network congestion, bridge, token mechanism etc etc). I mean, sure. But also the risk of a unregulated space. And fraud. >The death spiral mechanic also obvious from the beginning I don't think it was obvious, the market wasn't pricing it that way. I don't think anyone expected 6 trillion LUNA to be minted. Right?

partymsl

Yep, LUNA was probably the most shilled before its collapse here because it was performing the best.

Logical_Lemming

It was, by far, my craziest and worst day in crypto. I didn't have any LUNA exposure either, all UST. The problem was my UST wasn't just in Anchor, it was in Aperture, which at the time was running a delta-neutral strategy using both Anchor and Mirror. The problem was, Mirror protocol was actually broken for a long time and nobody knew until the crash, when there suddenly wasn't enough money in there for everyone to withdraw. So I literally couldn't withdraw my UST until the value was significantly down. I spent that whole night shuttling UST and LUNA back and forth from Terra Station to Kraken, selling LUNA for UST on Kraken and then burning it for more LUNA to sell for more UST. I made all my money back that way. I did end up bridging a bunch of LUNA to Ethereum to send to Coinbase (because they only accepted WLUNA because CB was absolute ass back then at supporting networks other than Ethereum). But that bridge was completely clogged. That LUNA didn't come through until the next day, BUT THEN WLUNA SKYROCKETED ON COINBASE!!! I sold that shit instantly and REALLY made my money back. If I held longer I think I could have made about $60k on LUNC that I spent like $1400 on. I still honestly believe that so much crime happened on that day. But not necessarily crime perpetrated by Do Kwon. I think the LUNA validators (especially Binance and Jump) should be legally liable for cutting UST loose and rebooting the network to let LUNC pump. Even though the precedent that would set would probably kill crypto forever.

MariachiArchery

About a month before this crash, I was researching savings products to park some money. I needed to either get the money in the market, or put it in a savings product. I was earning interest on CB via USDC deposits, but was wondering if I could be earning more with another crypto product. This brought me to the Anchor Protocol. A savings product. That is how this was sold to 'investors' as a savings product. Now, a savings product should be zero risk, or close to it. Like a HYSA, a CD, or T bonds. Zero risk, low yield. But, Anchor was different. It advertised zero risk on 20% yield. This interest rate on zero risk is impossible. It literally doesn't exist. So, I asked myself, what is the catch here? Where is the risk? 20% yield with no risk isn't real. So, I wondered into the Anchor subreddit and asked around. "Hey boys, what is the catch? Where is the risk? This can't be real, there is no such thing as a savings product that earns 20%." When I posted this in the sub, I was inundated with comments insisting it was actually zero risk. No risk. It's a savings product. I had guys telling me to park my life's savings, that I would be stupid not to... on and on. I tried to insist this can't be real. That this isn't a savings product, there must be a catch. I also watched that stupid video that put out that explained the peg and the how the yield was earned, which made no fucking sense, and asked the sub to explain it, like I'm five, and no could. No one even tried to understand it. They just blinded trusted that Anchor was a zero risk 20% interest savings product. Failing to understand the product in any way, I warned the group. "Boys, this is too good to be true". Then, I got flamed, so I checked out. This isn't for me. About two weeks later, LUNA minted 6 trillion tokens, and it all collapsed. Watched it happen in real time, in that Anchor sub, as people desperately tried to exit, but couldn't. I watched those dudes loose everything. Moral of the story? If it's too good to be true, it's not true.

sidzzz__1007

Most of the sentiment shift comes from liquidity drying up post-2022, ETF-driven BTC/ETH focus, and trust damage from FTX/LUNA. Retail attention rotated away from mid-cap narratives, so only stronger networks stayed relevant. A few niche experiments like RasputinCoin ($RSPN) still try to build, but visibility is limited.

NiggBot_3000

I remember selling my entire bag of LUNA a day before it tanked. Crazy feeling.

proWww

i lost $1500 on LUNA, but i was about to lump sum like 30k, and it crashed the next day... rip $1500 but i count myself as lucky nonetheless

fan_of_hakiksexydays

Saylor breaking away from "never selling" Bitcoin is something we probably should have guessed was eventually gonna come. Luckily, STRC on the other hand is something we can see a little bit better, and there's no points for guessing what's coming here when the $100 depegs too much and selling shares or having to raise the yield too high backfires, and people who thought this was like a bank product realize what they bought, and can't get their money. In the past, FTX, LUNA, Voyager, were things that were difficult to see at the time. You could definitely tell something was a bit off and didn't add up. But most people were still hopeful that these were major players, with big player money behind it, "too big to fail", etc... And even people who saw the potential issues of the depeg of LUNA, still said it was very unlikely to happen and there were ways to counter it if it did happen.

Medium_Change4574

LUNA back in the top 100 lmao

ExactArugula6821

who ever said LUNA was”too big to fail”. Ten seconds of research would’ve made it obvious it was a ponzi.  “If you don’t know where the yield comes from, you are the yield”

FriendsMade_MeDoIt

Kinda feels like the vibe just matured tbh. Back then everyone I knew was hyped on “next ETH killer” type plays, and group chats were just nonstop altcoin shilling. Now those same people are way more cautious after getting burned on stuff like LUNA and FTX. I don’t think it’s just one thing, more like a combo of big blowups + people realizing a lot of projects didn’t deliver. So sentiment shifted toward “stick with what actually survived.” Even in my circle, the convo went from chasing random alts to mostly BTC/ETH and maybe a few picks people actually understand. The hype isn’t gone, it’s just way more selective now. Feels less like a free-for-all and more like people actually questioning things before piling in.

Drumroll-PH

It’s basically the market maturing after getting burned. After things like FTX and Terra (LUNA) collapsed, people stopped trusting hype and started focusing on what actually survives. That’s why most attention shifted to Bitcoin and Ethereum, they proved they can last through cycles. The rest didn’t necessarily die, they just lost credibility and narrative.

NotSoSchrodinger

I don’t think people just got more negative. Feels more like the market got a lot harsher about what it’s willing to trust. LUNA and FTX didn’t just wipe out capital, they kind of killed that old reflex where people would give alt narratives loads of benefit of the doubt for way too long. Then this cycle had a much clearer institutional bid for BTC, and a bit for ETH, so capital didn’t really spread the same way it used to in older retail-heavy runs. So to me that’s the shift. Not “people stopped caring about ecosystems”, more that liquidity, survivability and actual demand matter a lot more now, and most alts don’t get trusted by default anymore.

cashflashmil

Yeah, the shift is real. A big part of it is that the market got much less forgiving after LUNA and FTX. Those blowups didn’t just destroy capital - they broke trust in a huge part of the old “ecosystem growth” narrative, and research on FTX’s collapse even points to Terra-Luna as the pivotal shock that worsened FTX’s liquidity fragility. The second change is structural. This cycle, a lot more capital is flowing into Bitcoin through ETFs and other institutional channels, which has changed how liquidity enters the market and made BTC much more resilient than in older retail-led cycles. That has hurt alt sentiment. Bitcoin dominance has been sitting around the high-50s, and the usual altcoin season indicators have stayed weak, which tells you capital is still concentrating in BTC rather than spreading across the market the way people got used to in earlier cycles. So I don’t think people suddenly stopped caring about ecosystems. It’s more that the market now cares a lot more about liquidity, survivability, and where real demand is coming from. BTC has an institutional bid. ETH still has relevance. BNB has a functioning exchange-driven ecosystem. A lot of other large caps now get treated as legacy narratives until they prove they still matter. That’s why the vibe feels harsher now. It’s not just cynicism - the market got burned, then matured, and now it’s a lot less willing to give altcoins the benefit of the doubt.

CaptainTrader32

even LUNA did well at one point in time. Please try to understand that I am merely asking about XRP's fundamentals and why it should be trusted over other coins. Lets say HYPE, which has a clear use case unlike XRP.

oopssomething

I bought LUNA after the crash and made bank

LOY4L

LUNA again and again lol

EndSmugnorance

This just sounds like Terra LUNA on a *much* larger scale..

commandrix

I'd be cautious about stablecoins. They aren't all created equal. The Terra/LUNA thing was pretty bad.

dino-delicious

Is this more similar to the FTX crash or the LUNA crash?

ConsciousSkyy

Looks like $WLFI is going to pull a $LUNA

LeanCrafterUK

Terra LUNA was too big to fail too. Lol how many big coins rugpulled and died since 2017. You really think your clever . Look at the top 20 coins in 2017 2018 2019 where are they now... It is out . Hence why Tao is $250 now and going back to $150

HODLbot_not

My biggest mistake is still LUNA. That taught me there is no such thing as too big to fail. Wrack my whole account cause at that time I really trust in LUNA and is a main too. Man thinking about that made my mad

First-Structure-2407

Didn’t take LUNA profits

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Post is by: Additional-Channel21 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1sakj6e/sea_of_markets_or_why_trading_is_more_like/ Sometimes people ask how you actually learn to understand markets. Usually the conversation quickly turns into charts, indicators, news, technology and predictions. But the more experience I gain, the more I notice something strange. Markets that seem completely different often work according to the same underlying mechanics. For me that understanding did not come from books. It came from very different places. Game economies. A vegetable market. Crypto. And eventually the sea. Game economies were probably the first market I understood. Before I ever traded real assets, I traded items in games. If you actually play the game and follow what is happening in it – updates, tournaments, the meta – you begin to feel the value of items. You start noticing patterns. Which items are rare. Which collections will become desirable. Which skins players will want later. You do not buy everything. You buy cheaper. And you sell higher. Over time your inventory grows in value. At some point you realize something simple. This is a market. And the mechanics are surprisingly clear when the stakes are just digital items. I have always wondered if anyone else first understood markets through game economies. Later I saw the same thing in the physical world. At one point I traded vegetables. I bought produce at the wholesale market at night and sold it during the day directly from my car. It is not glamorous work. And it is not very profitable either. But it teaches you something about markets very quickly. You cannot buy goods and simply wait for the price to go up. Vegetables spoil. If you do not sell, you lose. So the market lives on turnover. Buy. Sell. Buy again. Every day. Another thing becomes obvious very quickly. If you start pulling money out of that circulation to live on, the whole system begins to break. Because circulation is the bloodstream of any market. Then came crypto. Crypto looked like the same game, just much bigger. At first it felt familiar. Buy cheaper. Sell higher. Sometimes you catch something unexpected. During the LUNA collapse I picked up tokens very close to the bottom and managed to sell them much higher during the rebound. Later I lost most of those profits trading futures. That was another lesson. Crypto is not just a market. It is a storm. And this is where another experience suddenly made sense. At one point in my life I worked on a ship. Once we were sailing to Tuzla in Turkey for an emergency engine repair. On the way we got caught in a heavy storm. There was a real chance the engine could stop. If that had happened we would have been stuck in the middle of the storm. Sailors will understand what that means. If the engine dies in a storm, the sea quickly reminds you who is in charge. The sea behaves a lot like markets. Sometimes complete calm. Sometimes clouds gather and a storm begins. Sometimes the surface looks calm while powerful currents move underneath. Markets behave the same way. Periods of calm. Sudden volatility. Hidden liquidity flows under the surface. Sometimes everything feels stable. Then within hours the market turns into chaos. But the most important thing at sea is not the waves. It is navigation. When you sail across the sea you must always know where you are. That is why maps exist. Latitude. Longitude. You constantly mark your position. If you do not know your coordinates, you are lost. If you know the direction but not your position, you are still lost. So humans invented compasses, maps and navigation. And there is an important detail here. If you make even a tiny mistake in your course, just one degree, it does not look like much in the beginning. But over a long journey that small deviation becomes hundreds of miles. A small mistake in direction eventually becomes a massive mistake in destination. Markets work the same way. If you do not understand where you are, what course you are holding and how your capital is distributed, then you are simply drifting. Sometimes the market is calm and everything feels fine. But when the storm begins people start sinking. At some point my thinking about markets changed. I stopped asking where the price will go. Instead I started asking different questions. Where is my capital actually positioned. How is it distributed across assets. How should it move between them. Over time I built my own system around that idea. Not as a way to predict prices. But as a way to navigate markets. To treat capital more like a course on a map than a bet on a single wave. I am curious how other people arrived at their understanding of markets. For me it came through very different places. Game economies. A vegetable market. Crypto. And eventually the sea. What about you. Was there a moment when you suddenly understood how markets actually work. And if some of you are already building your own systems for managing capital, I am curious about something else. Have you explored ideas like portfolio allocation, rebalancing or capital optimization across assets. At what stage are you in that journey. Because sometimes markets really start to look like a sea. And eventually the most important question stops being Where will the price go and becomes Where am I in this sea and what course am I holding. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Calm_Situation_1131

Yes, this poisons the well for the future. Which is why I think it will be revisited after the next FTX, LUNA, etc., implodes people's life savings again.

Calm_Situation_1131

None of this is legally binding and will be reversed by later administrations because it allows for unchecked securities fraud. I expect this to happen after retail loses even more money with the next wave of exit liquidity tokens, ponzi schemes, and other scams that make LUNA, FTX token, etc. look like pocket change. This SEC interpetive release is bad policy and the Howey test is still good law after 100 years for a reason. Everyone cheering this doesn't understand that this SEC's direction is a step back because it makes the crypto space even more grifty and subsequently siloed from the legacy finance. The crypto industry was in a good spot with sensible, incremental wins against the last SEC. This total takeover is greedy and self defeating. What do you think will happen when people's retirement funds blow up with the next scam? Crypto goes back into the hole because everyone thinks it's a scam.

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Post is by: Ok_Security_1684 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1rttwjq/i_replayed_the_ftx_collapse_and_traded_it_my_i/ Spent the last hour going back to November 8, 2022 on this market replay tool I found. Started at $20,600. First few minutes felt obvious in hindsight - CoinDesk story, CZ tweeting about FTT. I told myself I'd short immediately. Instead I opened a long at $20,180 because "it might be a rumor." 5x leverage. You can guess what happened next. What made it different from TradingView replay is it wasn't just showing price - funding rate was going negative in real time, liquidation counter ticking up, whale transfers spiking, Fear & Greed dropping. The full chaos of that day, not just the candles. Ended the simulation up $180 on a $10,000 portfolio. On one of the most obvious directional trades in history. The AI breakdown at the end was brutal: 75% long bias. During a crash. 33% win rate. Ignored my stop loss twice. Turns out my "I would have shorted it" was completely made up. Tool is free if anyone wants to embarrass themselves: [**cryptontradebot.com/market-replay.html**](http://cryptontradebot.com/market-replay.html) They have COVID crash, LUNA spiral, 2021 ATH, Jan short squeeze too. Curious if anyone else gets humbled or if I'm just bad at this. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Godex_io

Imagine explaining NFTs, LUNA and FTX to him in one sentence

LargeSnorlax

Everyone I know who has asked me about Bitcoin has done the same thing. They say "Bitcoin is too expensive, I bought BCH", "Bitcoin is too expensive, I bought LUNA". People said this to me when Bitcoin was $20k. $10k. $5k. $1k. Literally never changes.

wynzly

nah, after that terra/luna ust incident, im done with holding anykind of currency related to crypto except USDT(the only one i know and still being used). lucky at that time, i didnt hold anything related to LUNA, but other cryptocurrencies also got hit real hard because of luna IIRC (i had avax, sol at that time).

wynzly

nah, after that terra/luna ust incident, im done with holding anykind of currency related to crypto except USDT(the only one i know and still being used). lucky at that time, i didnt hold anything related to LUNA, but other cryptocurrencies also got hit real hard because of luna IIRC (i had avax, sol at that time).

coinfeeds-bot

tldr; Terraform Labs has filed a lawsuit against Jane Street in Manhattan federal court, accusing the firm of insider trading during the May 2022 Terra collapse. The lawsuit alleges that Jane Street used non-public information, obtained through a former Terraform intern, to adjust positions, reduce losses, and profit while the UST depeg worsened and LUNA lost over $40 billion in value. This legal action is part of Terraform's ongoing bankruptcy recovery efforts to reclaim funds for creditors and token holders. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

kenken2k2

remember LUNA ?

linux_n00by

still bagholding LUNA ?

blaziken8x

It's bait for sure, Kraken is trying to offer me 3% bonus on deposits, but if you look at the small print, you have to keep it on there for a minimum of 18 months and must not move it from exchange during that time period. While I like Kraken, I'm not keeping a large amount of money with them for a prolonged period of time, to earn some change. 18 months is plenty of time to have another FTX or LUNA type collapse.

Late-Possible-8902

Alright, let's get the LUNA, SafeMoon, SBF, and other crypto scammers return the stolen funds too.

RocksteK

Ask Jeeves: “Rank cryptocurrencies by market cap on February 6th, 2021.” Altcoins are generally terrible investments, especially when compared to other assets. You have to be lucky with the ones you pick, and when you buy and sale. That list from 2021 likely includes one called LUNA that ain’t really around anymore. Plus, alts have plenty more room to fall.

knowmansland

Where are the facts? FTX crashed after the fact. In addition to LUNA. Hold steady lads. The whole market is under manipulation. Crooks on every algo taking your assumption as cash. Remember that SBF, Do Kwon, and CZ were on signal chats. In fact I think it was Sam who wanted to tank LUNA. It’s a big club and you ain’t in it.

baIIern

That would be the end. LUNA dropped like 99.999% or so haha.

piggleii

Honestly, this is quite dramatic, but nowhere near LUNA/FTX levels.

tokenchoke0

At some point, we will have an event that ultimately plunges the crypto market to 0 or close to it. Imagine FTX or LUNA but spread out through the top 300 coins. Bitcoin will survive but it’ll lose at least 70% of its market cap. Everything else will lose 99.7% of their market cap including ETH which will be the first to collapse causing a chain reaction. The mining rewards will make Bitcoin a net negative for miners which will cause them to shut down mining rigs. Bitcoin will bounce around the $15-$25 range for eternity until the masses just lose interest all together.

FoxPeaTwo-

You’ll be alright bro. Gotta know the risks. I’m still holding my LUNA from last cycle 🫠

biba8163

Are people still surprised that leveraged casino coin will empty your pockets? > *ETH is a casino coin whose value is a mirage derived from stacking on-chain leverage in places like Aave, Maker, etc where ETH is the dominant collateral asset for gambling for ETH and various shitcoin tokens people think are DeFi.* **When the shit hits the fan, you have cascading ETH liquidations to reveal the ugly shitcoinery lying underneath. (Feb. 2025)** https://np.reddit.com/r/CryptoCurrency/comments/1igeysk/the_eth_to_btc_ratio_just_flash_crashed_to_02337/mapylwj/ > **I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. (Feb. 2025)** > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

biba8163

> Fundamentals have not changed You might want to learn what fundamentals are. Crypto does not have fundamentals. In traditional markets, understanding value of companies comes from fundamental analysis. Fundamentals in investing are based on revenues, earnings, future growth, return on equity, profit margins, PE, the economy, interest rates and other financial data to determine the fair market value of a company. Crypto does not have these sort of fundamentals. Crypto is based almost purely on speculation. BTC itself is a speculative asset and the entire Alt market generally have a correlation coeffieent of ~0.90 and just follow BTC up and down and inherently have no fundamental value in themselves. ETH is a double speculative asset that has been underperforming almost everything for 8 years and historically has a 0.96 correlation coefficient to BTC only appreciates when BTC goes on bullruns. - Summer 2017, ETH hits ATH of $400 after BTC hits local top of $3,000 - January 2018, ETH hits ATH of $1,400 after BTC hits cycle top of $20K - May 2021, ETH hits ATH after BTC tops out in April 2021 - Nov 2021. ETH hits ATH in December after BTC tops out in November 2021 - August 2025. ETH briefly touches past 2021 ATH after BTC breaks $120K Not only is ETH a double speculative asset but it is a leveraged on-chain casino coin that primed for liquidations in market downturns > *ETH is a casino coin whose value is a mirage derived from stacking on-chain leverage in places like Aave, Maker, etc where ETH is the dominant collateral asset for gambling for ETH and various shitcoin tokens people think are DeFi.* **When the shit hits the fan, you have cascading ETH liquidations to reveal the ugly shitcoinery lying underneath. (Feb. 2025)** https://np.reddit.com/r/CryptoCurrency/comments/1igeysk/the_eth_to_btc_ratio_just_flash_crashed_to_02337/mapylwj/ > **I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. (Feb. 2025)** > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

biba8163

ETH investors still don't understand ETH is a leveraged casino coin > *ETH is a casino coin whose value is a mirage derived from stacking on-chain leverage in places like Aave, Maker, etc where ETH is the dominant collateral asset for gambling for ETH and various shitcoin tokens people think are DeFi.* **When the shit hits the fan, you have cascading ETH liquidations to reveal the ugly shitcoinery lying underneath. (Feb. 2025)** https://np.reddit.com/r/CryptoCurrency/comments/1igeysk/the_eth_to_btc_ratio_just_flash_crashed_to_02337/mapylwj/ > **I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. (Feb. 2025)** > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

piggleii

I really have a bad feeling Saylor, Microstrategy and his DAT cohorts will be the LUNA and FTX of this cycle.

biba8163

I've been warning noobs like you about falling for bullshit mETH Head narratives for years and years. You need to first learn about how crypto works. Now back to school noob. > **If you think 0.04 BTC is low, the ETH/BTC ratio is going to feel like getting kicked in the nuts over and over again over the long term as the ratio falls below 0.01** and goes lower and lower. > Long term ALL Alts follow the same trend and fall below the initial BTC value they started at. Pretty much all the older Alts, even the most successful fall below this value. ETH is also trending long term to fall below this value. People talk about historic trends, patterns and cycles but this has been the only 1 undisputed and unbroken pattern for 14 years. > | | Initial | High | Current | > |:-----------|------------:|:------------:|------------:| > | LTC | 0.03 BTC| 0.048 BTC | 0.001 BTC > | XRP | 5,594 SATS| 22,500 SATS | 940 SATS > | XMR | 0.005 BTC| 0.035 BTC | 0.0029 BTC > | ETH | 0.01 BTC | 0.15 BTC | 0.041 BTC https://np.reddit.com/r/CryptoCurrency/comments/1fgzm3z/daily_crypto_discussion_september_15_2024_gmt0/ln9jvct/ > **Who the hell is buying ETH for $3,000+? That is insanely expensive. Plus, insiders, developers, VCs got a ton of the supply for essentially free and have oligarchical privilege to print their own ETH for free and dump until perpetuity.** And what does ETH even do? It's only a token in a digital casino and there are plenty of alternatives including subsidiary L2s and other cheaper casinos. https://np.reddit.com/r/CryptoCurrency/comments/1gujmk1/daily_crypto_discussion_november_19_2024_gmt0/lxzks6h/ > **I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria.** > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

MaximumTWANG

honestly, after LUNA crashed i pretty much lost interest in crypto entirely. that network had some of the best real world use case of any project in crypto and was one of the easiest to use and if that can fail, i dont trust anything else. imo bitcoin is the ONLY thing worth investing in when it comes to crypto

Free_Entrance_6626

LUNA is probably worth more than that lol

cutcoturge1

Every coin other than BTC and ETH seems to just wither away and die. LUNA, ATOM, JUNO, DOT, ADA... lost my butt on every single one. Now I'm just down to BTC after I consolidated a couple years ago and I'm holding in an offline wallet, locked inside a gun safe. Will check back in 3-4 years time.

EarningsPal

Terra crashed because LUNA supply instantly skyrocketed

ironbit1

Harmony ONE. No recovery after the bridge hack. Oh, what about LUNA?

lookslikeyoureSOL

Lmao that was during my first bull run. I put up $3,000 as collateral to take out a loan on a LUNA-based defi protocol (I forgot the name). A week later the entire platform crashed and burned. Haha fuck me right?!

partymsl

The days when everyone said LUNA is one of the safest alts...

cosmic_censor

HYPE gonna be this cycle's LUNA?

AutoModerator

Post is by: Animalverse and the url/text [ ](https://goo.gl/GP6ppk)is: https://animalverse.social/community/p/28385/ Terraform Labs filed a $4B lawsuit against Jump Trading over alleged market manipulation linked to the 2022 Terra (UST/LUNA) collapse, per WSJ. https://animalverse.social/community/p/28385/ *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

ralphyb0b

Yes. Look back to LUNA/TERRA just a few years back.

piggleii

Were you here for Terra LUNA or FTX? Those were pretty epic.

Benzo_Head

MSTR is a huge ponzi scheme, not even good for Bitcoin. I think it will end up like the new FTX or LUNA

coinfeeds-bot

tldr; The price of Terra Luna Classic (LUNC) has dropped by over 45% following the sentencing of Do Kwon, the crypto mogul, to 15 years in prison. This decline erased millions in market value and coincided with drops in related tokens like Terra (LUNA) and USTC. The sentencing was longer than both the defense's and prosecutors' recommendations, reflecting the $40 billion losses suffered by investors. Despite the crash, LUNC retains a strong community and Binance support, but its price forecast remains bearish with potential further declines of 45%. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Terraform Labs founder Do Kwon was sentenced to 15 years in prison for his role in the $40 billion collapse of Terra's UST and LUNA. U.S. District Judge Paul Engelmayer reviewed 315 victim letters detailing severe impacts, including financial ruin, health crises, and suicides. Victims described losing life savings, facing bankruptcy, and enduring emotional and physical hardships. While some sought restitution over imprisonment, others demanded maximum penalties. The judge emphasized the fraud's devastating human toll during sentencing. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

SnooPandas6412

If I remember right from *Going Infinite*, most FTX bagholders actually ended up getting almost all of their principal back. Yeah, if you adjust for inflation they still lost, but it’s not a total black hole. Compare that to Do Kwon’s victims — their odds of recovery are basically 0. This is the guy who talked big about “making people whole,” spun up LUNA 2.0, and then instantly sold his entire stack right after launch. That’s not a mistake, that’s who he is. And yet the universe decides he gets the lighter sentence. That’s the kind of irony that makes you root for absolutely nothing good happening to him behind bars.

SeriousGains

I don’t know about you, but I’ve been loading up on the dip. If LUNA can rebound so can they.

Creative-Frosting189

Who the hell is trying to revive LUNA of all coins? Is this some kind of alt season last push signal. The coin has been doing insane percentage wise for a week

SnooPandas6412

You’re right! In the immature crypto ecosystem of ten years ago, someone like Do Kwon — and something like LUNA — couldn’t have existed!

Confident_Section568

Piramide schemes are always stable untill they are not FTX looked stable untill it wasnt TERRA LUNA looked stable untill it wasnt I know its not the same but you get my point The whole idea of Microstrat is just weird Companies making profit buying BTC is a whole different story

Hitachi22

LUNA back to $1 LFG!

LtViperNL

LUNA pumped, yeah now I’m certain the top was in…..

DBRiMatt

So this is why LUNA is pumping... xD

coinfeeds-bot

tldr; The U.S. Department of Justice is seeking a 12-year prison sentence for Terra founder Do Kwon, citing the $40 billion Terra–LUNA collapse as one of crypto's largest frauds. Prosecutors argue the severity of the damage, including global financial fallout and Kwon's alleged use of a fake passport to flee, warrants the maximum penalty. Kwon, extradited from Montenegro, is set for sentencing on Dec. 11. The case highlights regulatory and enforcement challenges in the crypto industry following the collapse. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

cbrunnkvist

Precisely. You can't beat yourself up for not being able to foresee the future. I've heard of someone who was almost a millionaire in $LUNA, but did NOT cash out when things started to wobble, because he believed there was no way would go to zero. Yet, none of that is a reason for grief, because the plan would have been to cash out into TerraUSD in *any* case, which *also* went to zero when [the whole Terra ecosystem imploded](https://www.youtube.com/watch?v=lAQdQzF4KYM).

joannew99

Hindsight is 20/20. Lot of those DEXes amd CEXes had exposure to LUNA and suffered when LUNA when to $0

tornavec

That's incorrect. UST's collateral was Bitcoin and LUNA. Its depeg was directly triggered by LUNA's collapse. Similarly, Tether's USDT faces depegging risk from BTC volatility, compounded by their lending activities

joannew99

Idk how you can remember 2008, but don’t remember DeFi 2022 when 1 of the biggest cryptos (LUNA) went literal to $0 in like 1 day which caused several CeFi and DeFi to run insolvent.

DBRiMatt

*The following assets are scheduled for delisting: UST, LUNA, LUNA2, NODL, PDA, ETHW, TVK, TUSD, MOVE and BRICK.* Hell, it's about time UST, LUNA and LUNA 2 got the flick.

Weak_Bowl_8129

Also there is still a market for / people willing to buy LUNA despite the founder being in prison right now for defrauding people who bought LUNA. Unless something worse happens to Bitcoin, it will exist forever

piggleii

They weren't great, but come on. FTX+LUNA was much worse, for me anyway.

AutoModerator

Post is by: Ubique008 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1p2gr23/playbook_from_a_crypto_veteran_nfa_dyor/ Been here since 2017. I lost everything in the FTX and Luna crash. Became a BTC maxi and it made me wonders this time. I bet the house in 15k BTC 2022 and sold it all at 107k. Never made back my 2021 paper gains, but still. What I am, me, me personally, have written down to do: BTC can go 75 80 85% down. It happens. The 4y cycle has not disproven itself yet. I am sitting all in safe treasure bonds until 13-14 months after all time high. By november decemver 2026 the bottom should be in. My guess is around 40-55k for BTC. When will I sell? 13-14 months after halving. I 100% got the bottom in 2022 and missed the top by not much tbh. It was the same time playbook that worked in 2017, and worked 2021, and worked again 2025. 2021 I lost 100% what I invested in the LUNA FTX crap. Never again. I myself will only buy BTC. Again, around nov 2026 and sell around 13-14 months after halvint whenever that is. This is not financial advice, this is just what a crypro veteran who got 100% wrecked did this time and will do again. Hold right now if you want. But Hold BTC. HOLD ONLY BTC. I would sell everything, even BTC, and way for nov 2026, but if you hold BTC i wouldnt blame you. I hold now what would be over 8 figures of alts at ATH, that are cents. Even bluechip alts like DOT and AVAX that I hold since 2021 ATH still wrecked me to hell. I would never in a million years hold alts agains, even ETH. Buckle up kids. The bear market memes are always amazing. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

JustLTFD

Agreed. There is always a catalyst. Mt Gox, FTX, LUNA, ect. The catalyst this time is MSTR is blowing up. They borrowed billions and have been buying the last couple years. Well they are out of money and their stock has burst. So they will no longer be buying and will likely need to become sellers to cover interest payments. Many saw this coming long before it happened. Somehow Saylor is still in denial about having to sell BTC. The day he says it there will be blood in the streets.

skkane1

LUNA 2

Ryjin2

Crypto treasure companies going bankrupt is going to be the next Celsius, 3A, Voyager, LUNA, FTX collapse. And then ppl will again call those black swans when the writing was on the wall. And there will be continued excuses for why we went lower. Obviously doesn't have mean it will happen, but gotta at least consider that it has a decent % chance of happening. 

CryptographerNo9254

Here is just the list: • FTX • Alameda Research • Three Arrows Capital (3AC) • Celsius Network • BlockFi • Terraform Labs (LUNA/UST) • Silvergate Bank • Lykke Exchange

Django_McFly

Imo it's the LUNA/UST of this cycle. Not a crime or a scam, but people got blown up. They're trying to pull a *pay no attention to the man behind the curtain* but just like UST, the bodies are going to start floating to the surface in the coming months.

therealthugboat

I was an unfortunate $LUNA investor and finally got my initial determination of loss approved by the wind down trust today. Did any of you get this as well? There was a batch of investors that got an initial determination a few months back. Did any of you receive any sort of compensation from the wind down trust yet? There is a clause that says: “The Plan Administrator previously provided you with an Initial Determination which you either accepted or failed to timely dispute as of the Initial Objection Period deadline. Accordingly, you now have an Allowed Crypto Loss Claim as listed below. Please note that your Crypto Loss Amount is not the amount of your eventual recovery or distributions from the Wind Down Trust and your distribution may be materially less than the total amount of Allowed Crypto Loss Claims.” Anyway, I’m happy that it’s moving in the right direction and that I finally heard something back. A bit trepidatious about this little plan admin clause though.

Subtraktions

Still holding g tight to that $LUNA?

crichtonjohn82

Don't regret BTC at all. Made life changing money. I regret any and every alt coin, even the ones I eeked a profit out of after multiple cycles. I'm mostly pissed at everyone in retail who wimped out and gave up after that series of bankruptcies that occurred after the LUNA crash. All you had to do was not give up and keep buying, and this bull run would have been just as great as the last ones. We are damn lucky institutions have finally woke up and saved this bull run from being a total disaster.

jaymeetee

I had $10k of LUNA staked on Celsius in 2022. Suffice to say that was a mistake. Since then I’ve just been slowly putting what have left each month in to Bitcoin and while I’m a long way from where many of you guys are, I’m doing better now. Time in Bitcoin is a great healer.

jaymeetee

I had $10k of LUNA staked on Celsius in 2022. Suffice to say that was a mistake. Since then I’ve just been slowly putting what have left each month in to Bitcoin and while I’m a long way from where many of you guys are, I’m doing better now. Time in Bitcoin is a great healer.

VTGCamera

This happened to me…. Specially FTT and LUNA took a big part of my money :( I was so disapponted that i stopped DCAing and THAT’S where I really fucked up

Makemoney-101

LUNA is what actually got me despising crypto. Slowly regained confidence in crypto after but it was a definite setback. There are people out there who help you recover your losses from the bs coins.

AirDrifting

Remember LUNA? Full of morons.

kirtash93

LUNA PTSD is back

Miep99

Isn't that how LUNA imploded

CallousBastard

I barely avoided losing $2K on LUNA a few years back, then withdrew everything from Celsius and Hodlnaut shortly before they went under. Lesson learned; chasing after yield in crypto is far too risky for my taste. The only thing about XMR that annoys me is the lengthy sync time for my wallet if I haven't used it for awhile.