{"id":460096,"date":"2022-06-09T18:20:33","date_gmt":"2022-06-09T15:20:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/luna2-traders-are-increasingly-short-despite-67-5-rally-4-million-liquidated\/"},"modified":"2022-06-09T18:20:33","modified_gmt":"2022-06-09T15:20:33","slug":"luna2-traders-are-increasingly-short-despite-67-5-rally-4-million-liquidated","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/luna2-traders-are-increasingly-short-despite-67-5-rally-4-million-liquidated\/","title":{"rendered":"# LUNA2 traders are increasingly short despite 67.5% rally, $4 million liquidated"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a0e6b7fea5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a0e6b7fea5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/luna2-traders-are-increasingly-short-despite-67-5-rally-4-million-liquidated\/#%E2%80%9D_LUNA2_traders_are_increasingly_short_despite_675_rally_4_million_liquidated_%E2%80%9C\" >&#8221; LUNA2 traders are increasingly short despite 67.5% rally, $4 million liquidated &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/luna2-traders-are-increasingly-short-despite-67-5-rally-4-million-liquidated\/#LUNA2_traders_are_shorting_it\" >LUNA2 traders are shorting it<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/luna2-traders-are-increasingly-short-despite-67-5-rally-4-million-liquidated\/#Shadow_wallets_FUD\" >Shadow wallets FUD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/luna2-traders-are-increasingly-short-despite-67-5-rally-4-million-liquidated\/#TFL_Kwon_under_investigation\" >TFL, Kwon under investigation<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_LUNA2_traders_are_increasingly_short_despite_675_rally_4_million_liquidated_%E2%80%9C\"><\/span>&#8221; LUNA2 traders are increasingly short despite 67.5% rally, $4 million liquidated &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Terra (LUNA2) reversed a portion of the losses this June 9 as its price per token rose by as much as 67.5% on the day, catching many traders off-guard with their perpetual swap positions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"LUNA2_traders_are_shorting_it\"><\/span>LUNA2 traders are shorting it<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In detail, LUNA2&#8217;s price soared from $2 to as high as $3.58. The volatile intraday move coincided with the liquidation of nearly $4 million worth of LUNA2 trades on Binance and Bybit, including $2.46 million worth of short positions, data from Coinglass shows.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/52d0361e-8486-42dc-a404-e5f6548d9ab4.jpg\"><figcaption style=\"text-align: center;\"><em>Total LUNA2 liquidations. Source: Coinglass.com<\/em><\/figcaption><\/figure>\n<p>Interestingly, LUNA2&#8217;s funding rates across Binance and Bybit remained negative, suggesting that traders are still short despite the price bounce.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/50e140d4-b09a-4393-a896-7f13a2ac2dbc.jpg\"><figcaption style=\"text-align: center;\"><em>LUNA2 funding rates history. Source: Coinglass.com<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Shadow_wallets_FUD\"><\/span>Shadow wallets FUD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The downside sentiment in the LUNA2 market has strengthened largely because of its underperformance in recent weeks, led by its association with Terra, an algorithmic stablecoin project whose native tokens LUNA Classic (LUNAC; formerly known as LUNA) and TerraUSD (UST) collapsed in May.<\/p>\n<p>Terraform Labs (TFL), the firm behind the Terra blockchain, formed LUNA2 from the ashes of the $40 billion project. It distributed the revamped token among investors who had suffered losses from their LUNC and UST investments via an airdrop.<\/p>\n<p>As it <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears, those LUNA2 recipients decided to dump the token to recover some of their losses, thus pushing its price down by 85% less than two weeks after it peaked at $12.24.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/9a1ce6c0-39e8-4e37-9731-b009cbf02d45.png\"><figcaption style=\"text-align: center;\"><em>LUNA2\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Investors are also likely keeping their distance from LUNA2 amid allegations that Do Kwon, the founder\/CEO of TFL, has lied about having zero LUNAC tokens. Notably, a self-proclaimed Terra insider, known by the pseudonym &#8220;FatMan,&#8221; claims that TFL and Kwon own 42 million LUNA worth over $200 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Do Kwon has stated numerous times that TFL has zero new LUNA tokens, making Terra 2 &#8216;community owned&#8217;. This is an outright lie that nobody seems to be talking about. In fact, TFL owns 42M LUNA, worth over $200m, and they&#8217;re lying through their teeth. (1\/6) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/D1HIWpAWHG\">pic.twitter.com\/D1HIWpAWHG<\/a><\/p>\n<p>\u2014 FatMan (@FatManTerra) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FatManTerra\/status\/1533807281187479552?ref_src=twsrc%5Etfw\">June 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The user also revealed five &#8220;shadow wallets&#8221; that hold 42.81 million LUNA2 (worth over $110 million at June 9&#8217;s price), noting that they all belong to Kwon.<\/p>\n<p>&#8220;[Do Kwon] used his shadow wallet to approve *his own proposal* through governance manipulation (TFL is not supposed to vote), told everyone it would be a community-owned chain, and then gave himself a nine-figure score,&#8221; Fatman <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FatManTerra\/status\/1533807285297979397\">alleged<\/a>, adding: <\/p>\n<blockquote><p>&#8220;These are just the verified wallets \u2014 there are many others.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"TFL_Kwon_under_investigation\"><\/span>TFL, Kwon under investigation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>LUNA2 struggles because of the growing scrutiny around TFL, particularly after it was alfined $78 million by South Korea&#8217;s tax regulator in May.\u00a0<\/p>\n<p><strong><em>Related:\u00a0Anchor dev claims he warned Do Kwon over unsustainable 20% interest rate<\/em><\/strong><\/p>\n<p>What&#8217;s more, South Korean prosecutors and police have launched an investigation following allegations that a TFL employee embezzled an undisclosed amount of Bitcoin (BTC) fro the company.<\/p>\n<p>Additionally, the U.S. Securities and Exchange Commission (SEC) is also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.law360.com\/newyork\/articles\/1500866\/defi-firm-terra-must-face-sec-subpoenas-2nd-circ-affirms\">investigating<\/a> whether TFL&#8217;s crypto tokens are illegal unregistered securities.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">sad to see that despite the fork those that held <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24LUNA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LUNA<\/a> or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24UST&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$UST<\/a> most likely will never get their money back.<\/p>\n<p>hands down the biggest fuck up of the year award goes to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/stablekwon?ref_src=twsrc%5Etfw\">@stablekwon<\/a>.<\/p>\n<p>congrats  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/vop90s292b\">pic.twitter.com\/vop90s292b<\/a><\/p>\n<p>\u2014 NFTeddy  (@TeddyCleps) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TeddyCleps\/status\/1534810843069677568?ref_src=twsrc%5Etfw\">June 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As a result, LUNA2&#8217;s price has a high chance of heading lower in June with the ongoing problems for TFL, legal pressures and overall bearish sentiment.\u00a0<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/luna2-traders-are-increasingly-short-despite-67-5-rally-4-million-liquidated\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; LUNA2 traders are increasingly short despite 67.5% rally, $4 million liquidated &#8220; Terra (LUNA2) reversed a portion of the losses this June 9 as its price per token rose by as much as 67.5% on the day, catching many traders off-guard with their perpetual swap positions. LUNA2 traders are shorting it In detail, LUNA2&#8217;s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":460097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNzgzZmIxMWUtOGQxMi00MmEyLWFiZDctZjg3MmFmZWQ2MDRlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,107545,74939,75493,78261,122378,71006,73157,73785],"class_list":["post-460096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-liquidity","tag-market-analysis","tag-stablecoin","tag-tech-analysis","tag-terra","tag-fraud","tag-investigation","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/460096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=460096"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/460096\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/460097"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=460096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=460096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=460096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}