Firstly, what is Interpol? The easiest way to describe Interpol is an inter-governmental Police organisation, shared throughout 195 countries. This is huge news for the pursued hunt of the Terra Luna puppet master. But for those readers who are unaware, why is Do Kwon even being hunted?
Terra Luna was the stand-out performer in the previous cryptocurrency bull cycle. The LUNA token rose to a market capitalization of over $40 billion and its algorithmic stablecoin, UST, rose to over $18 billion. Luna had the makings of a cryptocurrency heavyweight and was being likened to 'the next Ethereum'.
So where did this all go wrong? The value of UST was determined by the market cap of LUNA itself. The premise was that at any point in time, a user could swap 1 UST for 1 dollar's worth of LUNA. This theory was based on the assumption that the market capitalization of Terra Luna would always be higher than that of UST.
Unfortunately, that was not the case… In a shocking crash, the value of the Luna token plummeted and the fragile relationship between UST and LUNA was catastrophically destroyed. Holders of the LUNA ultimately lost 100% of the value of their investment and holders of the UST stablecoin lost between 99% and 100%.
The estimated total loss of Terra Luna comes to around $60 billion; this, of course, sent violent reverberations in confidence throughout the entire cryptocurrency market. Do Kwon reportedly withdrew $80 million per month from the Luna ecosystem in the lead-up to its monumental crash? This has led many to the belief that Terra was nothing but a Ponzi scheme. Luna had become the backbone of stablecoin DeFi in the crypto industry and many had a lifetime of savings locked up in either LUNA or UST.
Do Kwon is also wanted for questioning over possible foul-play in South Korean markets and possible law infringements. Interpol placing him on their Red Notice list only furthers the widespread belief that he needs to be brought to justice. His whereabouts are currently unknown.
Firstly, don't place all your eggs in one basket. This is particularly true for crypto investments rather than more traditional investments in the stock market. The crypto market, although has witnessed large-scale adoption, is still evolving and finding its feet. Emerging markets like the cryptocurrency market are always going to make riskier investments as the confidence from years of the industry is not there.
What the Luna collapse has shown is that regardless of how high your conviction is of a project's success or future, diversity is key in crypto. Even crypto juggernauts like Ethereum could majorly suffer from a clampdown by the SEC despite its status in DeFi and enormous community backing.
As such, projects with a focus on security, stability and longevity are, without a doubt, the best projects to have exposure to; and we've found one that might just fit the bill for the next crypto bull run.
Ever wondered what is missing from the meme coin market? There has been an influx of dog-themed meme tokens since the hyper success of Dogecoin. What is needed to complete this food chain of meme tokens? Big Eyes Coin!
This cat-themed meme coin is setting a precedent for the standard new projects have to meet. With 2 years of locked liquidity after the token launch, Big Eyes has secured investor confidence and is crushing its presale. A strong community with an engaging developer team is a great way of not only attaining a large community but maintaining their trust; in turn, giving more value to the token holders and the developer team.
Big Eyes' community focus is the reason we have become so bullish on this presale token, but there is still so much more to come for the project. An NFT collection with similarly inspired art to the above picture is scheduled for release in early 2023 which would serve to bolster the value of the BIG token.
If this has intrigued your curiosity about this cute community cat, then check the links below:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.