Lighter BTC Contract Abnormally Wick to $47,510
BlockBeats News, February 26th, an abnormal wick occurred on the BTC contract on Perp DEX Lighter, briefly dipping to $47,510.
Lighter's official team stated in the Discord channel that a whale seller directly executed a large-scale market sell order on the Lighter order book, totaling 1,000 BTC. Due to Lighter's limited liquidity, this behavior cleared all available buy orders and pushed the price down to around $47,000, after which the price rebounded. This was not a platform vulnerability, hacking, or manipulation; it was in line with the order book's operation. Additionally, liquidations are based on the mark price, not individual trade candlesticks, so stop-losses around that level may or may not have been triggered.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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