A whale enters with $2.6 million to short LIT, as market valuation disagreements over Lighter intensify ahead of the airdrop.
BlockBeats News, on December 25, according to HyperInsight monitoring, a whale address (0xdaa) deposited $2.6 million as margin to Hyperliquid yesterday and has established a $1.256 million 1x leveraged LIT short position at an average price of $3.53, with a liquidation price of $6.98. As of press time, this address is still increasing its position, with $970,000 of margin still unused.
Currently, LIT is trading at around $3.47. Based on pre-market prices, its fully diluted valuation (FDV) is about $3.4 billion. In terms of market sentiment, data from the Polymarket platform shows that the probability of "Lighter's FDV remaining above $3 billion one day after listing" has dropped by about 7% today, currently at around 55%.
According to previous news on the 20th, Lighter has transferred 250 million LIT tokens (about 25% of the total supply) to a new address. If all these tokens are used for future airdrops, each Lighter point would correspond to approximately 20.8 LIT. Based on the current pre-market price, each point is valued at about $71.1. The majority of the market currently believes that Lighter will conduct the airdrop on the 31st.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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