YouTuber says he lost $2.8M after buying LUNA during the crash

Terra LUNA witnessed a massive crash last week, where the values plummeted by more than 100%. Before the crash, LUNA was trading as a top ten cryptocurrency, but the collapse sent its market cap to around $1.2 billion.

YouTuber KSI loses $2.8M in one day

One of the people who invested in LUNA was a popular YouTuber named KSI. Last Thursday, the YouTuber said that he lost $2.8 million that he had invested in Terra LUNA. The value of his investment had dropped drastically to around $1000 in a single day.

LUNA is a cryptocurrency for the Terra ecosystem used to maintain the UST peg at $1. However, the UST stablecoin started losing its peg on May 9, and following the connection between UST and LUNA, the latter made a massive plunge to the current price of around $0.000185.

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By the end of Wednesday evening last week, LUNA had dropped to around a cent, and KSI took to Twitter to explain to his followers how he had lost money from investing in the token and shared some tips that he had learned from this investment.

“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 tweeted. 12 hours after this tweet, KSI shared another update saying that his investment had plunged to $1000.

There are still no plans for why KSI bought Terra during the dip, but he said that he would be holding his tokens for the long term. The price of LUNA is currently looking attractive to some believers to believe in buying the dip, hoping that the price will recover. Currently, LUNA’s supply has increased significantly, causing a further price dip for the token.

This is not the first time KSI has lost a large amount of money from trading cryptocurrencies. In January, the YouTuber said he lost $5.1 million in trading cryptocurrencies in 2021. He also advised his followers against leverage trading, saying that there was a slim chance of winning.

Where to buy LUNA

The price of LUNA is currently volatile, and stability has yet to be established on leading exchanges. However, the dip is still attracting optimistic traders about a recovery. To buy LUNA during the dip, you can do so on eToro, one of the leading cryptocurrency exchanges.

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