As is already known, the price of Luna and the Terra network’s stable coin, UST has been grossly devalued recently. While this article does not address the circumstances that led to it’s devaluation, it is important to note that salvaging the entire Terra ecosystem will be difficult but cannot be completely written off.
Luna which saw an all time high close to $120 recently fell to an all time low of $0.00001675 on the 13th of May 2022. Being quite devastating for holders, it may also be an opportunity for new investors to accumulate Luna at a cheap price. Buying at the current price can make one extremely rich if the Terra ecosystem eventually succeeds in salvaging Luna.
Should I Buy Luna Now?
In my opinion, you should buy Luna at the current price. You should buy some bearing in mind that there’s only little chance of it’s survival owing to the fact that a good number of investors have lost faith in the project and may never invest in it again.
Knowing that the survival chances of Luna is very slim, it may just come as a surprise if it ever hits $1 again. This is easily possible if the Terra team burns a huge number of tokens and performs a major buy back. With the backing of certain big investors, the Terra ecosystem can easily perform a major buy back.
Getting some Luna now will certainly make any one rich if it ever hits $1 again and this cannot be written off because we’re in the crypto space and things can go crazy some times.
How Much Worth of Luna Should I Buy?
While it is advisable to get some Luna, it is also advisable to invest only what you can afford to lose. The Terra ecosystem is currently in a state of chaos and we may just see the project team abandon the project at any time. While having in mind that the chances of survival isn’t certain, it can also not be written off completely.
We can not state the exact worth of Luna you should buy but anywhere between $10 to $100 would be a good bet at the current price.
Conclusion
Investing in Luna at this point is very risky but may be an opportunity we will never see again. There’s a possibility of a complete loss of funds and there’s also a possibility of making really huge profits if you buy at the current price. Invest only what you can afford to lose, that way you don’t go bankrupt if it turns out bad.
