So I don’t know where’s the best topic to post this, as it may be suitable for the markets section (if this is not a new attack and only some form of strong-armed shorting strategy by who knows who) and the stability section (because LUNA 2.0 is still vulnerable, the community is still upset about the whole LUNC catastrophe, the public opinion of TFL is at stake and we don’t know if someone is going to strike LUNA’s foundations again)…
Yesterday, the price of $LUNA (and $LUNC) went down 20% from $6.3+ earlier, then down again to under $4.5+ . It’s having a hard time recovering as everytime it rises a bit, it’s driven down again. It’s clear that someone(s?) is sinking the prices but the questions are:
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is $LUNA at the verge of a free-fall similar to that of $LUNC? Remember the new coin is not backed by any stablecoin or anything really.
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who’s behind this and is this some new attack to TFL?
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when should TFL intervene here? Because whoever is behind this will surely profit if $LUNA price is pumped too soon and we don’t know if this is a new attack and thus the intentions are precisely to have TFL burn it’s reserve funds trying to prevent the price falling too much…
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is there any internal and external auditing department that can look into this and see if there’re aby shady intentions from any party (even people from TFL) behind this? As I’ve said in the past… Call me a cynic, because i am, but i can imagine how TFL could allegedly profit from the masses buying big now to refill it’s capital reserves, depleted after the LUNC crash.
I think, for the sake of LUNA’s and Terra’s stability, transparency is absolutely critical now that the new chain is still a novelty