$LUNA is still down nearly 50% over the past 24 hours
Hoskinson suggested buying some LUNA tokens for"negative correlation," repeating a joke made by controversial Terraform Labs leader Do Kwon.
A negative correlation indicates that one asset increases in value while the other decreases. Investors tend to include assets that are likely to move in the opposite direction for diversification purposes. In this way, it is possible to significantly reduce the level of risk. Kwon, who is known for his abrasive tweets, has seemingly been humbled by the market. The controversial crypto founder has been silent for almost a day after announcing that Terra was busy deploying more capital in order to shore up the embattled UST stablecoin.The Luna Foundation Guard has now deployed its entire $2.23 billion Bitcoin stash in a desperate last-ditch effort to stabilize UST.
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