LUNA UST: LATEST UPDATE… Binance CEO Finally speaks out… 😬
I spoke about this in my first video, but i actually got out of ust last night at a significant loss. So i am very much riding this wave with you guys and i have been bringing you guys the most up to date, news when it comes to the terra luna debacle, and i want to continue to do that until we get some sort of you know, information Or anything that i can help you guys, along with whats, going on right now we have some important information from czed from binance as to why they have de less delisted the coin, and we also have right now, one minute ago, a new update from the terror Uh twitter account so were gon na go through that were gon na go through the market, where i think were going everything that im seeing right now, if you dont know me already my names connor and i am not, i repeat, not a financial advisor. I am clearly just a random guy sitting in his room, so dont listen to anything. Ive got to say this is purely the ramblings of a madman sitting in his room. But if you like that sort of thing, you could potentially smash the subscribe button, because things have been pretty bleak recently and if you do want to come over and chat to another thousand other cryptocurrency investors that are all going through the same thing. At the same time were, finding new projects were talking about, whats going on were helping each other grow in this space, and it really is one of the best most positive communities that im in right.
Now, if you do want to come and join it, there is a link down there in the description to my patreon and if you dont, like it within the first three days, just drop me a message on there and i will refund your money. No questions are so if you fancy it the links down there in the description and lets jump straight on to this video right now, looking at the terra ust twitter account one minute ago, the terra blockchain has resumed block production. Validators have decided to disable on chain swaps and ibc channels are now closed. Users are encouraged to bridge off chain assets such as be eth to their native chains. No wormhole bridge is currently unavailable, so interesting stuff, here definitely nice to hear them updating, because, as of now, we have had absolutely no updates from dokwan himself since the 11th of may, which i think is absolutely obscene. Like, first of all, he told everyone to stay strong two days ago and then everything absolutely crashed to nothing. I am very disappointed in this sort of management style or whatever you want to call it, and of course i hold no resentment behind this, because at the end of the day, like we always talk about here in the cryptocurrency world, we know what were going into Now, of course, a lot of us believe that this was a stable coin. I personally was holding around 60 to 70 of my dry powder to buy the dip in ust, which i lost around 85 percent on, which is you know, heartbreaking.
At the end of the day, but we will get through this well learn from this in 2018 i learned that crypto can crash 99.9 now in 2022, god its 2022. Already now in 2022, i have learned that stable coins are in fact not stable. So again, just a learning curve and we are going to make it through this its about how we uh receive these sorts of circumstances and how we act, learn and grow from them thats my opinion anyway, im trying to stay positive with everything. Thats happened. If you are feeling super down about the current situation, go outside be in the sun, if youre in the uk, because its bloody sunny right now have a cold shower or swim in the sea. Absolutely incredible highly recommend that, but try and uh forgive yourself, because we never knew this was going to happen, but very disappointing that weve seen nothing from dope one. I have no idea what hes gon na do. Is he gon na come out at some point and have this uh amazing master plan to save everything, or is he just gon na disappear into the darkness now forever? Because if he does disappear – and i mean if they dont come out with anything – surely theres going to be some legal ramifications for this. But of course i dont know this is pure speculation. So as we are going through this pretty trying time in the world of defy, i thought this would be the perfect opportunity to introduce you guys to todays channel partner, and that is vold.
Now. This is a centralized platform where you can store your cryptocurrencies and generate that passive income that everyone was loving over in the d5 space. Now i still hold some of my crypto over on the centralized platform ive spoken about this before on the channel. I always referred to these as the less risky of the two options of the centralized so c5 and the decentralized d file, so im sure youve, heard of a bunch of options that we have in the centralized space for staking. But you may not have heard of vold and they recently reached out to me to see if id be willing to work with them, and i did think it was a perfect time to bring them to you guys now. So here you can earn borrow and trade. So you can earn that interest. Weekly payouts withdraw anytime, compounded, obviously and fixed term deposits. Now the interesting thing is we still get pretty good returns here so on your bitcoin, you can get 6.7, which is actually very competitive. The way that i had my d5 staking set up, it was getting me around 10 of my bitcoin, so this is close to that and its centralized usdc 12.6 busd 12.6 trx at one percent, ethereum solana and a bunch of other coins all with very competitive interest Rates sitting right here, of course, it doesnt come without its risk. Do not forget that, but instead of your money sitting on a decentralized platform, its actually sitting in multi signature wallets where vold themselves do not have access to users funds.
So this gives it another layer of protection, like i said, not fully safe, but definitely a drastic step in the right direction. Now, on top of this, what made vold stand out to me, as opposed to some of the other platforms, is its customer first. So their goal is to give a delightful experience to our customers, and our business product and tech goals are aligned accordingly. So, unlike a lot of platforms which are absolutely terrible when it comes to customer service, you can chat with customer service directly here on the website and now on top of the staking and that sort of stuff they have huge partnerships with the likes of coin based Ventures and a bunch of others – and there is also an automatic, buy the dip function. So if you guys do want to simply check out this platform, maybe start your research into it. Im going to leave the links down there in the description and then start your research from wherever you feel comfortable lets, move on to binance and find out what theyre saying so cz from binance theyre talking about why they de listed it now at binance, we prioritize User protection, we made the decision to suspend luna and ust trading heres why an exponential amount of luna were minted due to flaws in the design of the terra protocol. Their validators have suspended their entire network, resulting in no deposits or withdrawals possible to or from any exchange.
Some of the users are unaware of the large amounts of newly minted luna outside of the exchanges and started to buy luna again without understanding that, as soon as the deposits are allowed, the price will likely crash further. Due to these significant risks, we suspended trading im. Seeing this so much in my uh comment: section people were buying the dip over the last few days, but they clearly didnt understand what was happening right. The supply of terror has absolutely skyrocketed in the last uh two days or so, meaning that the price dropped from 83 to 90 to 0.002, whatever that of a cent right and its absolutely crazy. The market cap right now at 183 million dollars, people are thinking. You know if i just put in a hundred dollars here, and it goes back to a dollar ill, be a millionaire, but that is not how this works luna, unless a significant amount of the circulating supply is somehow burnt, will never go back there. Even with the same market cap of 40, i think or 50 billion dollars, it would never see the same prices again unless significant changes are made to the blockchain, the ecosystem, the amount of tokens and that sort of stuff. So please stay safe, dont, just blindly dump the money in, because we have seen that this coin has dropped 99.9 every day day in day out, for the last three to four days, right, weve seen that – and that is just another lesson for you guys that these Things even though something is down, dont base it on that, because, if somethings down 70 it can still drop another 99 from there, it can still drop again right.
So please keep that in mind. Stay safe out there heading back to this tweet, while binance always aims to be neutral, helpful and protective of all users and industry peers, and we typically refrain from commenting on other projects ill break down that rule this time. I am very disappointed with how the ust luna incident was handled or not handled by the team. Exactly what im saying do: kwan hasnt even spoken in over 24 hours, absolutely terrible. We requested their team to restore the network, earn the extra minted luna and recover the ust peg. So far we have not gotten any positive response or much response at all. This is a sharp contrast to the axiomfinity, where the team took accountability, had a plan and were communicating with us proactively and we helped. We know there is a difference of opinion in the community. We felt suspending trading is the best way to protect our users at this time. We will continue to monitor the situation closely. 24. 7.. All actions will be announced on finance at binance on twitter, so very interesting stuff there and a good insight as to what kind of person sees that is whether or not you like him or you dont like him, interesting uh, take on whats happening right now. If you do check out the bitcoin chart, we are up over 30 000 closing in on 31 000, bouncing off that very important line of support. Wicking down like i expected, but bouncing off.
I do, however, think that this is. This is a bounce right. This is a dead cat bounce. I dont expect this to last very long, but then again maybe this is the disbelief phase. I was expecting a dip to around this 19 000 mark because that would essentially play out a very similar move to what happened in 2018 and what i was planning to do was deploy as much cash as i could possibly on the way down, but losing around 70 of that cash has been pretty hard and a pretty hard pill to swallow. But, like i said, were going to learn from this and were going to move on the greed and fear index sitting at 10. So in extreme fear – and we do check out the bubbles quickly, ust right now is the most red across the board. Everything else looking super green, but again, in my opinion, this isnt the type of pump to be trusting. I wouldnt trust this, but of course you guys can do what you want to do: apecoin currently at uh, just under nine dollars, looking pretty nice and ust right now, if we head back there its strange because its sitting at around 17 cents on coin market cap And its said that its around 17 cents all over um all over these exchanges here, but on finance and kucoin, and things like that, its sitting at around five to seven cents right now. Now, who knows if this is ever gon na, come back im? Not a hundred percent certain its gone forever, but im about 99 sure theyre not going to come back from this unless a lot of money comes into the ecosystem, to save it thats.
Basically, the only thing that i can see working now. Of course, i have my hopes if you are still holding the coin and if you do fancy coming and chatting to me on the patreon direct access there to my portfolios, my trades and just me in general and all of the people there right now.