LIGHT coin fell by 77.7% in just five and a half hours, leaving the market in mourning.

How severe is this drop? The data speaks for itself—over the past 24 hours, the trading volume surged to 2.13 billion USD, directly landing in the TOP 3 of 24-hour contract trading volume on a leading exchange, just behind BTC and ETH. This ranking alone indicates the level of market frenzy.

But what follows? A major liquidation. Long and short positions have accumulated to be wiped out by 4.84 million USD. Looking at the changes in open interest really allows you to feel the impact of this storm—the OI fell from 53.32 million USD before the big dump to now 18.79 million USD.

This is the true portrayal of the contract market. High leverage, high volatility, high risk. When making money, you soar to the sky; when losing money, you turn into cannon fodder.