LIGHT price fluctuated dramatically: 8.84 million tokens deposited into CEX after a flash crash, with $16.17 million Get Liquidated in 24 hours, approaching Bitcoin and Ether.
According to monitoring by the blockchain data platform Lookonchain, within the past 7 hours, a total of 5 wallets have deposited approximately 8.84 million LIGHT tokens into a certain centralized exchange (CEX), which is valued at about 8.2 million USD based on the price at that time. This action occurred during a period of significant fluctuation in the price of LIGHT, raising high concerns in the market regarding capital outflow and selling pressure at high levels.
Market data shows that the LIGHT Token has rapidly surged from about $1.35 to $4.75 in the past 3 days, with an astonishing short-term increase. However, after reaching the peak stage, the price quickly fell back in less than 2 hours, once dropping below the $1 mark, displaying a typical “boom and bust” trend. This extreme market condition led to a rapid liquidation of many high-leverage positions.
According to statistics, in the past 24 hours, the liquidation amount of the LIGHT Token has reached approximately 16.17 million USD, ranking only behind Bitcoin (BTC) and Ethereum (ETH) in the entire market, with the liquidation intensity far exceeding that of most small and medium market cap crypto assets. Relevant data indicates that the proportion of speculative funds participating in LIGHT trading is relatively high in the short term, with risks being concentrated and released.
Market analysis suggests that large wallets transferring tokens to CEX at high levels are often seen as potential sell signals. In cases of limited liquidity, concentrated selling pressure can easily trigger a price crash, amplifying the fluctuation. For investors who follow the price trends of LIGHT tokens, cryptocurrency clearing data, and altcoin risk management, this event once again reminds us that highly volatile tokens often accompany sharp corrections after rapid increases, necessitating cautious control of positions and leverage risk.
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If Bitcoin breaks through $72,000, the total liquidation strength of mainstream CEX short positions will reach 474 million.