Market Liquidation Event - The crypto market experienced a brutal liquidation event, particularly affecting altcoins and memecoins on centralized exchanges (CEXs) [1][3] - Many altcoins crashed 70-99% in minutes on CEXs, while Bitcoin ($BTC) and Ethereum ($ETH) barely crashed 13% [1] - The liquidation cascade happened so fast that almost no one had time to react, with exchange systems failing across the board [3] Portfolio Impact and Strategy - A trader experienced significant losses on perpetual futures (perps) positions, including $BONK and other altcoins [1] - Approximately 80% of an $ASTER position used as collateral on a DeFi lending protocol was lost [1] - The trader reallocated ~$1 million from the remaining $ASTER position into $BONK and $4, anticipating better risk/reward ratios [1] - The trader remains optimistic about $USELESS coin, believing it has the potential for significant outperformance and at least 10x upside [1] Market Analysis and Future Outlook - The market-wide crash was likely due to market maker (MM)/CEX liquidity issues, as altcoins did not reach similar lows on decentralized exchanges (DEXs) [1] - The trader believes the bull run is not over and anticipates a Q4 rally [5] - The trader plans to reduce dependence on leverage, implement sharper risk management, and focus on protecting positions from exchange-side risks [4] Risk Management and Personal Resilience - The trader emphasizes the importance of focusing on what can be controlled and learning from the event to improve as a trader [3] - The trader highlights the need for transparency in trading activities to help others learn [3] - The trader advises those who experienced losses to persist, survive, and not give up, emphasizing the importance of self-care and mental health [6]

Trading Experience - A trader using Lighter with high 7-figure positions experienced difficulty closing positions despite multiple attempts over 4-5 minutes [1] - The trader advises against trading with such large positions [1] User Feedback - The trader will update on Lighter's reaction to the issue [1]

i don't know who needs to hear thisbut the best thing you can do right now is take a breakshut it all down: laptops, mobile phones, social media, etcresist the urge to revenge trade, to open new leverage positions, or to try to make it all back immediatelytoday's liquidation event is the biggest altcoin liquidation event i've ever seen in my time in cryptoa lot of altcoins crashed 70 - 80% in minutes, most exchanges weren't working, stop losses didn't work for many, and many reported their buy orders weren' ...

i really hope you all are okay!today is the craziest event i've ever seen in my time in my time in crypto ...

black friday ...

wtf was that liquidation wick across the board just now ...

FUN FACT: the first $USELESS rally when it went turbo parabolic from $4m to $440m (i.e. over 100x) in the span of a few weeks happened during the peak of the tariffs drama and trade war earlier this yearUSELESS kept pumping nonstop and going up relentlessly despite everything else getting smokeddo not underestimate how resilient USELESS can be even in conditions like this!Unipcs (aka 'Bonk Guy') 🎒 (@theunipcs):$USELESS has been putting in the most aggressive bounces on dips latelyit is also consistently out ...

RT CRG (@MacroCRG)$USELESS lol https://t.co/xbDQpSvLdz ...

$USELESS has been putting in the most aggressive bounces on dips latelyit is also consistently outperforming everything else at the slightest sign of life in the marketi consider this free until it is trading in the billions$USELESS dips are for buying! https://t.co/YOP3X1kOTg ...

RT Bluntz (@Bluntz_Capital)gift of a $useless dip here, nice abc 3 wave pullback and tradfi about to close for the weekend.send it https://t.co/rSyNLplnBh ...