Lighter's recent decline seems to reflect the overall difficulties in the perpetual contract sector. As platforms of this derivative type face growth pressures, market engagement has noticeably decreased, and investors' willingness to interact is also declining. Based on the performance of leading projects like Long 45678, the growth expectations have been significantly revised downward, and it is unlikely to see new breakthroughs in short-term growth. This adjustment may indicate that the entire perpetual sector needs to find new development momentum.