LUNA, LUNA2's contract trading volume in the past 24 hours surged to nearly 2 billion USD, with negative funding rates reaching a peak. Short sellers are filling the lanes, but the main force is forcing a short squeeze in the opposite direction.

The reason is simple —

Tomorrow is Do Kwon's sentencing.

Prosecution demands 12 years

Defense requests 5 years

A difference of 7 years is the 'volatility lottery' in the eyes of the market.

It has long been consensus that LUNA has no fundamentals; this surge is not about faith, it's purely a gamble.

The market has already changed hands: the original victims have left, and now at the table are high-frequency traders, event funds, and players hunting for junk assets.

For them, LUNA is not a project; it's an event derivative priced around the judgment.

Once the judgment is announced, the market will likely respond as follows:

Heavy sentence → Fundamentals go to zero

Light sentence → Sell the News

Do Kwon's life will be priced tomorrow,

The market has no sadness, only machines profiting from volatility. #加密市场反弹 #美联储FOMC会议 #美SEC推动加密创新监管 #加密市场观察 #美联储重启降息步伐