#永续合约交易 Seeing the recent liquidation data for perpetual contracts, $195 million in 24 hours, I want to have a good discussion with everyone about this.

Contract trading is like a double-edged sword — leverage amplifies both gains and losses. The $LIGHT example in the news is quite typical: a 4x pump in the morning, crashed through support in two hours, all longs wiped out. This isn't an isolated case, but a snapshot of current market normalcy. Especially when the money-making effect in the secondary market is getting weaker, many people are forced to turn to contracts to pursue returns, only to fall into deeper traps.

What I want to emphasize is that perpetual contracts themselves are a product of centralized finance. Their essence is a zero-sum game between exchanges and retail traders. In comparison, the true Web3 spirit should point toward decentralized derivatives protocols in DeFi — no intermediaries, no liquidation harvesting, users truly control their assets. This is where the long-term value lies.

In the short term, if you must participate in contracts, you must set strict stop-losses, control position sizes, and don't let FOMO and get-rich-quick psychology hijack your decisions. More importantly, use this phase to learn and accumulate, and wait for truly valuable tracks to emerge. The next opportunities often belong to those who stay clear-headed and patient.