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  • Arjun Patil

The Speculated Ponsi-Coin is on the rise again. [Terra - LUNA]


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Arjun Patil

The speculated Ponsi-Coin is on the rise again. A vast community agrees on the fact that the terra ecosystem makes the invents coins and burns them and doesnt actually posses a backing to it. Regardless of the fact of it being true or not, the coin has managed to record highest daily percentage gain out of the top 20 coins today.

The $27.6 billion market cap coin is currently trading at about $68 which is 2.85% higher than yesterday. The reason for this reason is being attributed to the fact that this 2nd largest DeFi protocol has issued a proposal to expand the interchain deployment of its Terra (USDT) stable coins. The news of it providing over $139 million UST and LUNA for atleast next 6 months is what is leading the market to be bullish on them.

However, at the same time, there are cautioners who are commenting the heck out of at Terra-LUNA, accusing it to be a Ponsi-scheme. Invest in cryptocurrencies with due-diligence and not according to trends. The classic example of this can be Terra only, which was trading at up high of $100 at the beginning of the year and now is trading at nearly 30% lower value of $68.

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