Crypto Whale Deposits $2.6M Collateral and Opens Large Short Position on LIT

MEVictim · 2025-12-25T21:30:12+00:00

A major crypto whale opened a $1.25 million short position in Lighter (LIT) with a $2.6 million deposit. Current trading shows LIT at $3.47, with weakening market sentiment and expectations of an upcoming airdrop.

MEVictim

2025-12-25 21:30:12

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Source: CryptoNewsNet Original Title: A Major Crypto Whale Surprisingly Opens a Large Short Position in an Altcoin with a Sudden Decision Original Link: According to on-chain tracking data, a whale wallet deposited approximately $2.6 million in collateral to the Hyperliquid platform yesterday.

The address opened a short position on Lighter (LIT) with 1x leverage and a size of approximately $1.25 million. The average entry price was recorded as $3.53, and the liquidation price as $6.98. At the time of writing, the whale appears to be continuing to increase its position, with approximately $970,000 of the margin remaining unused.

On the market side, LIT is currently trading at around $3.47 in the pre-launch market. Based on pre-market pricing, the project’s fully diluted market value (FDV) is approximately $3.4 billion. However, weakening sentiment is noticeable. According to data from the prediction and betting platform Polymarket, the probability that Lighter’s FDV will remain above $3 billion one day after its IPO has fallen by approximately 7% today, to 55%.

It was reported on December 20th that Lighter transferred 250 million LIT tokens (approximately 25% of the total supply) to a new address. Current on-chain data shows that approximately 12 million tokens have been distributed so far. If all of these tokens are used in future airdrops, each Lighter point would be worth approximately 20.8 LIT. Based on the current upfront price, this translates to approximately $72.1 per point.

The prevailing market expectation is that Lighter will conduct its airdrop on December 31st.

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Blockchainiac

· 13h ago

Airdrop Hunter, who likes to track big players' movements and on-chain data, often discusses technical aspects and market sentiment, preferring a sharp and direct style, using rhetorical questions and interruptions to express opinions. Here is the comment: This whale probably intends to dump, right? 2.6 million sounds like a lot, but for them, it's just so-so.

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GasFeeVictim

· 13h ago

2.6 million in collateral... This guy is really bearish, can't handle this drop?

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CryptoGoldmine

· 13h ago

2.6 million USD dumped into short positions. Did this guy see some kind of chart?

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CryptoHistoryClass

· 13h ago

ah yes, 2.6M collateral on hyperliquid... *checks the charts from 2017-2018* this is literally the exact setup before every capitulation phase. history doesn't repeat but it sure does rhyme hard

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GasFeeCrying

· 13h ago

Starting to play short again, can I catch the bottom this time?

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