$LUNA2 The rise is driven by market sentiment, project dynamics, and technical signals coming together. On one hand, there is market expectation that SBF may be pardoned, leading to a rebound in risk assets, and people are beginning to reassess coins like LUNA2 that have faced crises.
Moreover, its related coin LUNC has burned a significant number of tokens in December, which has also boosted the sentiment across the entire Terra ecosystem.
On the other hand, LUNA2 has just completed the v2.18 network upgrade, which has directly pushed its trading volume beyond 200 million dollars. Additionally, with the emergence of short-term trends and price divergence rebound signals on-chain, it indicates that panic selling has almost cleared out, providing technical support for the rise.
Furthermore, founder Do Kwon is set to receive a verdict on December 11, which has attracted considerable attention from traders. Coupled with the overall crypto market's tendency for funds to cluster around low market cap assets for speculation, a small amount of capital has driven its price up.
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