Terra LUNA was once considered one of the top 10 largest cryptos in the world, but its value sank to almost nothing in a short amount of time, and now, its forked project, LUNA 2.0, is also facing a questionable future.
Learn more about the fall of one of the largest cryptocurrencies down below:
The Story of Terra LUNA
The story of Terra LUNA is a reminder that cryptocurrency remains extremely risky and is considered a high-risk asset. When investing in crypto, positions should be approached with proper analysis, understanding of the project, and backing just in case things go wrong.
Unlike most investors, however, many people who lost money in crypto didn’t have a lot of money to spare. There were even reports of suicide from a man that lost around $2 million USD due to the crash of LUNA.
The story is a reminder to not place all your eggs in one basket and always do your research before investing in anything that is high risk. However, investors with well-balanced portfolios can survive a potential crash on one position since it does not make up their whole portfolio.
When investing in crypto, it is also recommended to spread it out between different projects you believe in to minimise risk and not just one single project. This would help you protect your investment from completely collapsing in case a crash or something bad happens to the project.
In the case of Terra LUNA’s crash, the investors that were able to survive were those that did not place all…
