Cryptocurrency markets continue their downtrend. Cryptocurrency investors, on the other hand, continue to suffer massive losses, and the crypto market has fallen by over 30 percent in the past seven days. Fear and anxiety prevail in the markets. Famous British Youtuber and rapper KSI’s 2.8 million dollar altcoin investment went down to 1000 dollars with great price losses within hours.
The famous name saw the decline of this altcoin project as a buying opportunity
Famous British Youtuber and rapper KSI was also affected by the collapse in Terra (LUNA) and suffered astonishing amounts of losses. 28-year-old KSI, whose real name is JJ Olatunji, lost 97 percent of his investment in LUNA within 24 hours. The famous name, who saw the fall of the markets as an opportunity, invested $ 2.8 million in altcoins. KSI, which prefers LUNA, with the altcoin project continuing to lose value, its 2.8 million investment melted down to 1000 dollars. Expressing that he was not upset about the loss of money in his posts on Twitter, KSI said:
I earned a lot of money and lost a lot of money in my time. I also fell into depression, but later I realized that money is not important. I asked myself what is important to me. Reply; It was my family, my friends and my health. I was so focused on money that I was slowly destroying the things that mattered to me. I learned a lot in crypto. Before that I was like a soul and now I am happier than ever.
LUNA, which traded at $120 last month, is over 99 percent It fell as low as $0.0035 with a loss of value. The drop in LUNA and the failure of UST to reach the $1 level affected the crypto market in general and triggered more sales. KSI has made millions with his YouTube career as well as music and boxing matches. KSI’s known fortune is over $25 million.
Terra Blockchain paused to prevent administrative attacks
As quoted by Cryptokoin.com, Terra network stablecoin UST continues to lose value despite all interventions and additional LUNA issuances are underway for support. In the official announcement made by Terra, it was announced that the blockchain has been discontinued to prevent management attacks of the LUNA price.
The network’s USD-pegged stablecoin TerraUSD (UST) lost its stable price last weekend. It fell as low as $0.27 on Monday, failed to recover despite all the support. Terra’s collapse is largely due to the destabilization of the UST’s peg to the dollar, resulting in the UST’s en masse conversion to LUNA.
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