In the morning, Bitcoin rose sharply to 12000 USDT and then quickly fell back to around 10500 USDT, with a short-term amplitude of nearly 1500 USDT. Under the violent market fluctuations, the contract market totaled about 1.1 billion US dollars in the entire network. According to Debank data, in the DeFi field, the 24-hour total liquidation volume of mainstream mortgage lending platforms was US$727,000, and there was no significant sharp fluctuation. The chain notes that when 312 plummeted, the clearing and settlement mechanisms of several major DeFi platforms collapsed, the Ethereum network was severely congested, many ETH-collateralized assets were forced to liquidate, liquidity was exhausted, and the occurrence of 0 DAI liquidation borrowers’ mortgage assets, etc. The market value of DeFi’s locked position is directly cut in half.