$LUNA is taking a drubbing amid the implosion of Wonderland_fi
, the top meme cryptocurrency, has climbed to ninth place by market capitalization despite the fact that its price has slid over 4% over the past 24 hours.
It has managed to topple the embattled Terra token, which is down another 14% amid a brutal sell-off.The most recent price crash is the spillover effect of the Wonderland imbroglio., Daniele Sestagalli, the co-founder of the controversial reserve currency protocol, pulled the plug on the controversial decentralized finance project despite the majority of the community voting to keep it alive.
Some also have proposed merging Wonderland with Abracadabra, another DeFi project in the Frog Nation, but such a proposal is unlikely to come to life. Since it’s possible to stake the TerraUSD stablecoin by lending out Abracadabra’s Magic Internet Money stablecoin, the price of the LUNA token was directly affected by the implosion of scandal-ridden Wonderland.
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