Everything rises and falls on leadership, but which of the leaders should be held responsible for the massive dump of the Terra Network? Various cryptocurrency tokens such as SafeMoon have been bearish for the past few days due to the Fed’s increase in interest rate. The Terra Network has been one of the most reliable in the crypto industry for the last year. Should the leadership of the Terra Network be held responsible? Or the Federal Reserve leadership who have raised the interest rate, so as to tackle inflation?
As of the time of writing this article, SafeMoon is trading at an SFM/USDT on the www.gate.io top 10 global cryptocurrency exchange platform at $0.0004305 and up by 7.73% in the last 24-hours. The general cryptocurrency market is bearish, but SafeMoon has been bullish in the last 24-hours. Terra network ought to be one of the strongest cryptocurrencies because it is among the top 10 performing cryptocurrencies, but within just a few days, it dropped more than 95%. Lots of Luna token holders have been liquidated in a few hours. Since SafeMoon has been bullish in the last 24-hours, it shows investors still have confidence in SafeMoon, and the SafeMoon leadership should do their best to ensure the SafeMoon token remains relevant.
The Law of Cause And Effect – The Fall On Leadership Decisions (H2)
Luna has dropped from its top 10 positions as one of the best performing cryptocurrencies to below 65th position in the cryptocurrency market. There is a universal law called the ‘law of cause and effect’ which states that for every effect, there is a definite cause. What led to the collapse of the Terra network? Traders and investors are highly concerned about this massive dump.
Despite the increase in interest rate by the Federal Reserve, other cryptocurrencies have not seen a passive dump as the Terra Network did in just a few days. The algorithms used by the Terra Network for stabilizing the value of UST which is its stable coin proved to be manipulative and this led to the dumping of the token by major investors in the project and this, in turn, affected Luna. Its algorithms weren’t grounded on the sustainable accumulation of crypto. Lots of questions one needs to ask the leadership of the Terra Network, why do the management decided to sell off their entire BTC holdings after the UST lost its parity to the US dollar?
However, will investors ever trust the leadership of Terra Network? Will the Luna token ever get back to being among the top 10 best performing cryptocurrencies? With the current investors in the SafeMoon network that have believed and trusted the project, the leadership of SafeMoon should put in their best to make sure SafeMoon price does not become a rug-pulled project.
Image by Felix Wolf from Pixabay