Recently, the cryptocurrency market has experienced a significant fluctuation, comparable to the historical events of 3.12 and 5.19. This adjustment has had a particularly pronounced impact on altcoins.

As an investor, I personally experienced this market turbulence. Firstly, I participated in the USDE-USDT circular loan. Fortunately, I was using the VIP lending service, and the official liquidation delay mechanism helped me avoid a massive loss of about 7 million dollars.

Secondly, due to not participating in the market rise earlier, my risk exposure is relatively small. My spot position is empty, which is also the reason I purchased a large amount of USDE. However, I used contract trading on altcoins and have recently stopped losses, totaling losses of several hundred thousand dollars.

Third, the long grid trading robot I set up encountered a liquidation of 600,000 USD. This robot had been running for several months and had been performing steadily. However, this time the price drop exceeded expectations, breaking through the 60% stop-loss line I set.

When I woke up and saw that USDE had dropped to $0.66, I panicked a bit, but considering the delayed liquidation mechanism, the situation should be fine. After analysis, I believe there is no risk of USDE depegging, so I bottomed out at $0.70.

Later, I noticed that the price of WBETH fluctuated between 1700 and 2000 dollars. Since there were no funds left in the spot account, I quickly redeemed the BFUSD in the contract account and invested 2 million dollars to buy at the bottom, ultimately recovering my previous losses.

Reflecting on this year's investment experiences, I have indeed encountered quite a few setbacks: Cetus was hacked, XPL arbitrage across exchanges failed, grid trading faced liquidation, and this time the USDE circular loan nearly caused significant losses. Waking up in the morning to see an account loss of 7 million USD was truly shocking. This once again proves that the cryptocurrency market is full of various unpredictable risks.

This experience reminds us to be more cautious when investing in the cryptocurrency market, to manage risks well, avoid excessive leverage, and always pay attention to market trends. Although opportunities and risks coexist, protecting the safety of funds is always the top priority.