The LUNA token sank by as much as 17% over the past 24 hours thanks to its place in the Wonderland drama on Crypto Twitter. HeleneBraunn reports
from CoinMarketCap. It traded as low as $47.56, the lowest price since November. Recently, LUNA was changing hands at $51.89, down from its all-time high of $100.17 in December.a core member of the Wonderland project to be Michael Patryn, the co-founder of the infamous Canadian exchange QuadrigaCX.
The effects of that revelation made its way to the markets relating to another project also run by Wonderland founder Daniele Sestagalli, Abracadabra. The kerfuffle is affecting Terra because UST can be staked to lend out MIM, a stablecoin that is soft-pegged to the U.S. dollar and minted by the Abracadabra lending platform. The price of LUNA is tied to the total value locked of the UST stablecoin.
; he also pleaded guilty to credit and bank fraud in 2005 and admitted to burglary, theft and computer fraud in 2007., “I am of the opinion of giving second chances.” In response to the drama and Sestagalli’s handling of the situation, TIME, the native Wonderland token, dropped 32%. Similarly, MIM slipped off its dollar peg in a sharp drop, trading at $0.93 during Thursday afternoon trading hours. The coin rebounded quickly and was recently at $0.98.
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