2026-01-17 07:25:03

Headquarters Gully, 94, 312, 519, LUNA, FTX…… Over the past ten years, every market evolution has been accompanied by intense volatility.

Newcomers often rush in seeking overnight riches, but those who have been through the market know—luck is never reliable here, missing even one step can lead to the abyss. Looking back at history, several key moments are worth remembering:

In 2014, the Headquarters Gully theft incident, 850,000 BTC disappeared instantly, triggering panic selling across the network; in 2017, the 94 Storm, market capitalization evaporated by 80% overnight, many people's dreams shattered in that wave; in 2020, 312, Ethereum plummeted from a high to around $80, with countless contract accounts wiped out; on 519, 2021, the contract bloodbath day, 600,000 accounts were liquidated in just one day, leverage tools turned into nooses; in 2022, the "stablecoin myth" of LUNA was instantly shattered, followed by the FTX explosion— even top-tier platforms couldn't withstand the risk, and user funds seemed to vanish before their eyes.

These are vivid lessons. Currently, hot coins like SUI, TRUMP, BONK, PEPE, OM, SOL, PNUT look lively, but it’s important to understand: only a very small minority can walk away unscathed here. Before a black swan arrives, the market always strangely appears calm and peaceful.

So I am even more cautious about the current market—not out of fear of losses, but because I’ve seen too many scenes where the market suddenly reverses. Those seemingly solid supports can turn into cliffs in an instant. Trading still relies on logic and discipline, not luck.

BTC1,19%

ETH-0,13%

LUNA-0,6%

SUI-1,8%

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SchroedingersFrontrun

· 01-19 21:17

The recent wave in Mentougou really scared people. Now everything looks like the next FTX. To be honest, these new coin pump-and-dumps now are no different from the altcoins of 2017. History is so clear and obvious, yet some people still insist on risking it all. Wake up, everyone.

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HypotheticalLiquidator

· 01-19 10:38

Whenever I see newcomers ask "Is now the time to enter and will it take off," I think of the 600,000 liquidation accounts on May 19... That was truly a live broadcast of risk control thresholds being instantly breached. History repeats itself at just a few key points, just with different coins and narratives. No matter how hot these current hot projects are, with liquidation prices set and leverage as a sword, sooner or later it will hurt. Watching the support levels stay steady often makes it the easiest to fall. Honestly, compared to making money, coming back alive is the real skill. --- That wave of LUNA... even stablecoins can break myths, so what belief in fundamentals? Even a market giant like FTX can explode, and systemic market risk is always a lurking threat. --- The reversal always comes during the most bizarre and quiet moments in the market, it’s always like that. The current atmosphere feels so familiar; it’s better to hold onto healthy factors tightly. --- Leverage, you see, seems like a quick way to get rich, but in reality, it’s a faster way to get poor. The 312 wave went straight from heaven to hell, with no buffer. --- No matter how sharply SUI and PNUT rise, I just want to see where the liquidation prices are... that’s the real truth of the market.

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SchroedingerAirdrop

· 01-17 07:55

The wave in Mentougou has directly seen through the mortal world. Are there still people chasing hot trend coins? Wake up, brother.

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TokenUnlocker

· 01-17 07:53

The recent situation in Mentougou was really tragic, but it's still minor compared to that day on 519. FTX hadn't even run away yet and everything was gone; this is a casino. Now I hear people praising PEPE for being able to tenfold every day, and I just lol. History repeats itself, just with different coin names. I've seen too many accounts wiped out overnight and never recover.

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SmartContractRebel

· 01-17 07:52

The wave in Mentougou directly defined all my subsequent decisions, I really can't forget it.

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RugDocDetective

· 01-17 07:50

I've seen too many bloody lessons, really.

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ChainSherlockGirl

· 01-17 07:44

312My wallet address for Nabo is really still alive, but looking at the friends around me... to be honest, it's a bit frightening Now PEPE is so popular, but according to my analysis, the on-chain large holders' holdings haven't increased. Let's see what happens next From Mentougou to FTX, spanning ten years, every time it's new users writing their blood, those who survive have fallen silent Luck is such a thing, at critical moments, it's just like virtual currency... disappearing in an instant On May 19th, the 600,000 account that was liquidated, I bet five bucks, and I'm still trading BONK now Watching these hot coins is almost like watching a story drama. Who will be the next protagonist depends on your imagination Before the calm, there is despair, and this time is no exception

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ChainMelonWatcher