LIGHT surges 700% then instantly drops 77%, with $32.11 million liquidated in 24 hours

2026-01-01 13:06:10

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【Blockchain Rhythm】LIGHT (Bitlight) yesterday staged a wild rollercoaster market. Starting from $0.32 at 4:00 PM Beijing time, the price surged straight up, rising nearly 700% within just a few hours, reaching a high of around $2.5, attracting a large influx of capital.

But the good times didn’t last long—around 6:00 PM today, suddenly everything changed. Within just 1 hour, LIGHT plummeted by 77.3%, dropping sharply from the high to $0.5287, then rebounded slightly to $0.64. This intense volatility completely rewrote the wealth dreams of the bulls.

Data more clearly illustrates the issue. In the past 24 hours, LIGHT experienced a total liquidation of $32.11 million, second only to BTC’s $47.85 million. Among them, long positions were liquidated for $12.39 million, and short positions for $19.71 million. Behind these figures are countless traders’ dreams shattered during extreme market conditions.

Such volatility once again reminds us: small-cap tokens have lower liquidity, making prices more easily driven by large trades, with risks far exceeding those of mainstream coins. Leverage trading should be approached with caution.

LIGHT-58.1%

BTC0.52%

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AirdropHunterZhang

· 6h ago

700% rally to 2.5 then drop to 0.5, this rhythm... I knew I shouldn't be greedy and go all-in, another story of wiping out to zero.

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BoredWatcher

· 6h ago

Damn, this coin is basically a slaughterhouse, dropping from 700% to 77%. Who can withstand that? Another classic massacre scene, both bulls and bears have to pay tuition. In this kind of market, I just watch from afar; not taking action is the safest. 32,111,000 liquidation... just hearing about it hurts. I don't know how many people got completely wiped out this time.

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BlockchainDecoder

· 6h ago

According to research, such extreme volatility often stems from the technical characteristics of liquidity exhaustion. It is recommended to refer to Minsky's Financial Instability Hypothesis to understand this market dynamic. Behind the $32.11 million liquidation data, it reflects the inevitable result of information asymmetry in leveraged trading. From a technical perspective, 77% of the plunge amplitude has already exceeded the normal market pricing range. It is worth noting that this V-shaped rebound pattern usually indicates that there are still variables ahead. Honestly, this is a textbook combination of rug pull and liquidity crisis. Those friends who chased the high are probably still clearing liquidation notices.

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