Three days, from a million to a breakfast: The truth about the $LUNA nightmare in the crypto world
That year, I had 10,000 LUNA in my hands. Before sleeping, my account's market value was 1 million U; when I woke up, it was only 700,000 U.
I thought: It's just a 30% drawdown, UST has only decoupled by 10%, I've seen all kinds of storms in the crypto world. I trust Do Kwon, so I continued to sleep peacefully.
The next day, I woke up to 10,000 U. It dropped 99%. I stared blankly at the candlestick chart: it can't drop any further, right? Isn't buying the dip ten times more attractive?
I started selling everything I had to gather 200,000 U, and bought 200,000 LUNA at the 1 U position.
This time, I couldn't sleep. My eyes felt glued to the screen, waiting for a rebound.
As a result, it went from 1 → 0.1 → 0.000001, until it was delisted.
In three days, my 1.2 million U turned into money for breakfast.
Crisis isn’t about crying; it’s about staring blankly at your balance, not even wanting to move a finger.
The crypto world is different from traditional financial markets:
1️⃣ 7×24 hours without rest 2️⃣ No price limits 3️⃣ Extremely low entry barriers
4️⃣ Leverage abuse 5️⃣ Altcoin fluctuations are limitless
Especially with the combination of the third, fourth, and fifth points, becoming wealthy overnight or going bankrupt overnight is common.
You think 5x leverage is low? But in the crypto world, days with fluctuations over 20% happen every year.
The essence of leverage is that the further it drops, the harder it is to stop, leading to a chain of liquidations.
Wasn’t ETH's drop to over 800 just because the liquidation price on the chain was there, and there was capital smashing the market to pick up the scraps?
If you want to know the next market trend, you can follow the rhythm of the hero to execute,
Currently, for friends who are confused and losing money trying to break even, trust the hero and eat big pieces of meat!!!
