Wonderland drama affected numerous coins tied to Abracadabra protocol
The previously market-leading token, Luna, has lost more than 25% of its value following news about the defunding of the MIM stablecoin that caused additional panic around the asset. lost 27% of its value in the last six days in addition to 32% lost from the all-time high reached back at the end of December.
During the global downtrend on the cryptocurrency market back in the last month of 2021, Luna was performing significantly better than the majority of the market with a 133% run to the ATH.The funding of the stablecoin was drained by more than 40% from $530 million to approximately $300 million on CurveFinance. The reason behind the liquidity is more likely tied to news about Wonderland developers being involved in the QuadrigaCX exit scam.
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