LUNA2 traders are increasingly short despite 67.5% rally, $4 million liquidated

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LUNA2 traders are increasingly short despite 67.5% rally, $4 million liquidated
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Terra’s wild ride isn’t over yet. LUNA2 reversed a portion of the losses 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. (Reporting via bitcoinwallah)

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.

As it appears, 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.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"FatMan," claims that TFL and Kwon own 42 million LUNA worth over $200 million.

Do Kwon has stated numerous times that TFL has zero new LUNA tokens, making Terra 2 'community owned'. This is an outright lie that nobody seems to be talking about. In fact, TFL owns 42M LUNA, worth over $200m, and they're lying through their teeth.

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