$LIGHT dropped 77% in a few hours: Did the sharks 'gobble up' the dump?

What happened?

- On December 22, the LIGHT futures token experienced a flash crash of -77.7% in just ~5.5 hours, with the price falling from $4.60 to $0.78. The 24-hour volume reached $2.13B, making it one of the top 3 futures on Binance (after BTC & ETH).

- $6.4M LIGHT was sent to Bitget from wallet CFE5. This wallet received tokens directly from the Team.

- Two days prior, this wallet also sent an additional $2.4M LIGHT to Bitget.

- At the same time, $2.4M $LIGHT was transferred to wallet 6491.

- Consequences: $4.84M was liquidated, OI dropped sharply from $53.32M to $18.79M, indicating a significant sell-off and position reset.

Market sentiment

The community is heavily divided. Many are calling this a 'bulldozer' candle, suspecting manipulation by whales. Panic is spreading, with the $1 mark seen as a psychological support, raising concerns about the risk of a 'wipe-out'.

$LIGHT