Hindsight is a wonderful thing – in this case, the discovery of an Australian poll dating back to March that predicted the LUNA token would top US$143 this year.
‘LUNA Worth $390 by 2025’: Finder Survey
The crypto industry has proved its volatility lately as Terra fell and LUNA crashed. It was a crash, it seems, no one was expecting, not even the professionals. The Finder survey from March this year, for example, demonstrated the confidence that 36 fintech specialists had in Terra:
In late March to early April – prior to Terra (UST) losing its peg -Finder surveyed 36 fintech specialists for their thoughts on how LUNA [would] perform over the next decade. At the time, they thought Terra (LUNA) would be worth US$143 by the end of 2022 before rising to $390 by 2025.”
Finder.com
The biggest lesson to take out of this is that crypto is unfortunately still very unpredictable. While uncertainty still surrounds the future of LUNA and Terra, no token is exempt from the industry’s volatility and investors need to be smart, rather than taking predictions as gospel:
The LUNA Crash: Knock-On Effects
The LUNA collapse has had industry-wide knock-on effects. One of the most prominent outcomes has been significant falls across the DeFi market, as the crash was not restricted to the Terra ecosystem. With LUNA plummeting by 97 percent, there have now been approximately US$900 million worth of liquidations.
LUNA’s heartbroken founder, Do Kwon, has set to work on a revival plan, which is essentially a restart of the whole Terra blockchain. However, previous fans of LUNA are now struggling to trust the word of Kwon and are sceptical of the project’s return.