LIGHT skyrocketed 700% in the past 24 hours before crashing 77%, resulting in a long and short double liquidation of over $32 million

By: theblockbeats.news|2026/01/01 13:16:10

BlockBeats News, January 1st, according to HTX market data, LIGHT (Bitlight) experienced a short-term plunge of 77.3%, dropping to as low as $0.5287 at one point and is now trading at $0.64.

It is worth noting that LIGHT fell to $0.32 at 4 pm Beijing time yesterday and then continued to surge by nearly 700%. It once reached $2.5 around 18:45 today and experienced the plunge event one hour later.

According to Coinglass data, LIGHT liquidated $32.11 million in the past 24 hours, second only to BTC's $47.85 million, with long liquidations at $12.39 million and short liquidations at $19.71 million.

In the context of a tightening funding environment and an extended token issuance cycle, pre-TGE trading activity is evolving from scattered attempts into a "1.5-level market" that connects the primary and secondary markets, gradually becoming an undeniable independent market layer within the crypto industry.

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