Note that LUNA did experience a collapse. Just a week ago, the cryptocurrency was at $73, and now its value is tens of times lower than one cent. Despite this, the coin did eventually find an intermediate bottom and gave a rise. In particular, you can see its graph for the last day.

LUNA exchange rate chart for the last 24 hours

As a result, the cryptocurrency increased in value by 1676 percent during the day. However, it is important to understand that LUNA owners before the events of the last few days have now lost all of their money, even despite the “bounce” from the bottom.

LUNA price performance over different time periods

Among the risk takers was the famous KSI exec. Alas, his venture ended in failure.

How much can one lose on crypto?

KSI shared his loss from a Twitter account dedicated exclusively to cryptocurrencies, Decrypt reports. A separate account has been set up just to cover the celebrity’s blockchain journey.

I just invested $2.8 million in LUNA, those tokens are now worth less than $50,000. But it’s not all bad: I’m alive, I have family, friends and my active work ethic, haha.

Note that the KSI cryptocurrency account has become the cause for jokes within the blockchain community. In particular, because it has repeatedly published incorrect forecasts, subscribers have even allegedly started counter-trading KSI, i.e. listening to its "analysis" of the market and doing the opposite. Now prominent crypto investors are claiming that if the rapper publishes a statement saying the market is poised to fall, it means it will now move to the upside.

The rapper’s latest tweet was shared while the altcoin price was plummeting. Almost 12 hours later, he claimed that his aforementioned investment had depreciated to thousands of dollars altogether. KSI attached a screenshot of his cryptocurrency balance as proof.

Screenshot of KSI’s LUNA balance

LUNA still seems like an attractive investment for those few self-proclaimed “LUNAtics” who think the cryptocurrency could “resurrect” again. However, it is important to note here that the token itself has unlimited supply and is currently suffering from severe hyperinflation. Accordingly, one can hardly hope for a normalisation of the situation with it now. Here’s a quote right to the point of what’s going on from Twitter user ojuice_eth:

Guys, the LUNA offer is unlimited. The price will go down to zero, but never reach it. 100, 10, 1, 0.10, 0.01, 0.001, 0.0001 dollars – and so on until parity is reached for UST, or until liquidity disappears. Don’t buy a $0.01 token with the expectation that it will rise to $10. That’s how you fall into the trap of hyperinflation.

Incidentally, this isn’t the first time KSI itself has lost such large sums in crypto. Back in January, he claimed to have lost around $5.1 million in 2021. The rapper has put special emphasis on the dangers of margin trading – a process in which a trader borrows money from an exchange to increase his potential profit, while proportionately raising the risk of the transaction.

A wealthy celebrity may well survive the loss of a few million dollars in a gamble, but how will an entire country cope with such a problem? This question is particularly relevant for El Salvador, whose government has been actively buying Bitcoin since last year. Since the cryptocurrency became legal tender here, the Salvadoran government has managed to accumulate 2,301 BTC. Alas, however, the active Bitcoin hoarding has brought the country an estimated $37 million in unrealised losses.

President Nayib Bukele has spent a total of $103 million to buy bitcoins. The total amount of cryptocurrency on the state’s balance sheet is now equivalent to $65.6 million. Remarkably, Bukele was not embarrassed by the latest market crash and on May 9 he announced the purchase of an additional 500 BTC. That purchase, which cost about $15.3 million at the time, is now worth about $14.1 million.

El Salvador’s President Nayib Bukele

Bukele has previously been criticised for a lack of transparency in how El Salvador manages its acquired crypto, who controls the private wallet keys and how public money is used to accumulate coins on its balance sheet. But despite warnings from US officials, the banking sector and even the International Monetary Fund, the president has never abandoned his plans.


We believe the LUNA and UST situation is one of the biggest shocks to the cryptocurrency market in recent years. And unfortunately, the financial victims of this event are much larger, and not all of them can afford to lose money. Hopefully, they will be able to get out of the situation without giving up investing, because in the future bull run, investing in coins will in any case be profitable.