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I have no stake in Luna, nor do I care to advocate for them in any way. Yet, the reaction to this in no-coiner circles is characteristically devoid of substanc
by miracle2k 4y ago
I have no stake in Luna, nor do I care to advocate for them in any way.
Yet, the reaction to this in no-coiner circles is characteristically devoid of substance.
The token was airdropped to the victims of Luna 1.0, with whales largely being capped / subject to vesting and cliffs. The small-time bag holders of the old token are the ones selling, to recoup a small amount of what they have lost.
The fact that the price is dropping so fast just means there is in fact almost no one who wants to buy the replacement coin that was airdropped to the holders of Luna 1.
This is not a case of "how does this keep working?" - its evidence of it not working in fact, exactly the outcome critics are asking for.