The current contract holdings are more than the peak of the last bull market

Now it is more like the leverage wash after the Defi summer of the last bull market. You thought the leverage wash was a big negative needle coming down directly

But this round is a drop and rise, then drop and rise again, slowly grinding away all leverage

During this period, it is better to watch less, operate less and be happy, don't wait for the wind to come when your principal is gone