Cryptocurrency = Casino? The Future of Terra (Luna) after Govt’s Plan

Gambling offers plenty of opportunities to average bettors. It can turn some of them into millionaires in a single day. Even if they don’t have a couple of bucks in their pocket, they can use crypto coins like Terra (Luna). Well, the use of crypto isn’t always as smooth as you would want it to be.

In May 2022, Terra (Luna) found its place in the top 10 cryptocurrencies made up by CoinMarketCap. In May 2022, it collapsed by losing almost 100% of its value. The drastic fall from $85 to $15 within a few days has become a huge shock for investors.

Generally, the crypto market is having bad times with Bitcoin pulling down most of the altcoins. Ethereum, Solana, Cardano, Matic, Polkadot, Shiba Uno, and several other top cryptos also crashed to record lows. How long will it take for the crypto market to recover? No one knows.

Cryptocurrencies can be viewed as risky stocks and commodities. This statement is mainly based on the lower level of liquidity as fewer people have moved into web3. More legislative measures in the crypto market are required to avoid the collapses like the one with Terra (Luna).

What about the crash of Terra (Luna)? Has it been affected by the govt’s plan to integrate crypto into online gambling? The crypto experts justify the use of crypto by referring to practical values. Store of Value, Remittances, DeF, NFTs, and Web3 Games are basic values of the crypto market that can‘t be avoided.

The US government has introduced the Stable coin TRUST Act which involves the particular explanations. It clarifies how a crypto coin should behave in the modern crypto market. Hopefully, it will have a positive impact on crypto innovation and exemplary projects in gambling. Let’s see what will happen next.