Wonderland (TIME) is an outlier of the market that has recorded gains of 33% during the daily timeframe amidst bearish momentum in the market. It has garnered increasing attention due to the price movements. At the time of writing, the cryptocurrency stands at a price level of $878 – with the price down by more than 90% from the all-time high. On the other hand, the bearish momentum of the market may soon be translated into cryptocurrency as there has been a decline in the daily trading volume.
What is Wonderland?
Wonderland (TIME) is based on the Avalanche blockchain which gives it huge benefits in the shape of increased transaction speed and less gas fees. It launched in November 2021 and promises a high 80,000% annual percentage yield which has led to users piling up to the token. If the value of the TIME coin stays constant, a $1000 investment would become $800,000 in a year’s time with the current APY.
The TIME token has functionalities of both, a stable coin and a cryptocurrency. The network has a Treasury which is responsible for creating tokens based on how much each token is worth. However, it is important to point out over here that the price is still determined by the market forces and not by the Treasury – although it may have some influences by decreasing or increasing the supply. The supply of tokens is tied to the size of the Treasury such that the total value of tokens at any given time cannot be less than the size of the Treasury. Hence, the Wonderland Treasury backs the tokens and provides stability. The Treasury is currently valuated at $870 million.
In just three months of operation, the Wonderland project has amassed a massive following because of its attractive returns. The project is expected to continue climbing upwards as it gains more traction. In the brief period, it has been in operation, the Twitter community has grown to consist of more than 157k followers. The community swears by the returns enabled by the network and continues to attract more users.
Wonderland has also entered into its first partnership with Popsicle Finance and the two projects are working on a Solidly NFT Staking event. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $3893 in a year’s time and $11,846 in five years’ time.