Terra price skyrocketed, Vietnamese investors splashed money to play ‘lottery’

The price of LUNA is being traded at 0.0006291 USD/dong, up 1.685% in the last 24 hours, bringing capitalization to 4.1 billion USD. LUNA’s trading volume was also recorded at a high level, exceeding 6 billion USDequivalent to an increase of 648%.

On Binance alone, the price of LUNA is at 0.00418 USD/dong, up 1.150% in the last 24 hours. The trading volume of the LUNA/BUSD pair, which is also the only pair allowed to reopen, reached 3.15 billion USD.

At the time when Binance opened the LUNA/BUSD trading pair (May 13, 9pm – Vietnam time), the price of LUNA was at 0.00008522. Thus, up to now, the price of LUNA has multiplied about 7 times.

As noted by ZingRealizing the high profitability, many players in Vietnam started pouring money into LUNA. However, before the fluctuations of the project in the past few days, investors tend to be quite cautious, do not spend a lot of money and only buy LUNA in the form of “lottery coins”.

Terra price skyrocketed, Vietnamese investors splashed money to play 'lottery' - 1

The LUNA price surged after being re-traded on Binance. Photo: CoinMarketCap.

“I have just bought 25 USD LUNA this morning is at 0.00030302 USD/copper. Just let it be for a while, with large projects like this, it is likely that the developer has a solution to the problem.“, Trung Hieu, an investor in Hanoi shared.

Although the profit-taking milestone has not been determined yet, Hieu hopes that LUNA can return to the milestone 1 USD. If this turns out to be true and there aren’t any out-of-the-box issues, the investment is worth 25 USD can turn into 82,508 USDie 1.9 billion VND.

Up to now, Hieu’s investment is profitable about 1.3 times, sometimes doubled. However, this investor said he has no intention of buying more.

How much profit is considered fun, and loss or loss is not regretful. Having determined that playing the lottery is very risky. If you think making money is too easy and adding more, it’s more like gambling“, Hieu added.

On knowledge-sharing groups, many players are also excited about buying LUNA as a lottery. Some investors even posted photos showing off their profits many times over after successfully bottoming crypto. The most common spending amounts range from 10-50 USD.

Based on the technical chart, the liquidity of LUNA on the Binance exchange increased sharply since the night of May 13. The RSI also shows that LUNA is receiving strong buying inflow after continuously entering the overbought zone.

However, not all investors can successfully catch the bottom. The fact that the Terra project has not been completely fixed and stable makes the future of this cryptocurrency still a question mark.

Before that, many investors used to splash their money to catch the bottom of LUNA at price points they thought were low, such as just a few USD. Whether you spend a little or a lot, surely up to now, the user’s investment has been divided several hundred, even a few thousand times.

“Executing a trade without assessing the situation from the market can result in a split of the principal. LUNA can be a prime example where seasonal traders who do not understand the gravity of the problem and rely solely on technical analysis and unfounded belief have accepted buying during the sell-off. Many people have split 10, even 100 times their assets with just spot trading“, Victor Nguyen, founder of the non-profit organization CryptoLeakVn, warned.

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