I went to home depot today to try to aquire the monstercable for my home made Hyper Ground System that I saw in another post. But upon ariving at HD I popped the hood to double check the gauge and "o' connector size when i noticed smoke commin from the fuze box inside the engine bay

I have no clue why it did this today? Nothing is new on the car or has been done to it in the past 2 weeks. Not even sure what this wire is and why it decided to get red hot.