LUNA’s downfall has affected Youtuber and rapper JJ Olatunji aka KSI, as he claims to have lost more than $2.8 million in a day. LUNA’s after-effects have been evident as the investors who poured their savings into the coin seem to be left out with nothing but loss.
British Youtuber KSI joins the list as he took it out to Twitter to express his LUNA loss.
LUNA was partly designed to assist its algorithmic stablecoin TerraUSD to maintain its peg, or stable $1 value (UST). However, on May 9, UST lost its stability and has since fallen to only 46 cents. Because of the UST-LUNA relationship, the latter’s stock plummeted from $62 on May 9 to only 1 cent.
KSI seems to have learned some lessons
KSI, who has harnessed over 40 million subscribers combined from his channels, has been consistently tweeting about LUNA on his crypto Twitter account.
“I just put $2.8 million in that LUNA buy and it’s worth less than 50k. But that’s ok because I’m not dead. I’ve got my family, my friends and my vigorous work ethic haha.”KSI
A few hours later, he dropped a tweet posting a screenshot of his LUNA holdings and how much it’s worth now.
He wrote that his $2.8 million is now $1000, depicting the degree of effect of the loss. When LUNA began to fall on May 10, KSI tweeted, “wtf happened to $luna. Ever since, he has been putting out a series of tweets about LUNA, his purchase, and so on.
The current situation of LUNA may seem like a good buying opportunity to many. But one should not fail to remember that LUNA currently has an unlimited supply and is under hyperinflation.
KSI is not new to crypto and revealed that in 2021, he lost around $5.1 million trading crypto. But KSI seems to have learned his lesson and said that he had made a lot of money and lost a lot.