A Whale with $2.6M Shorts LIT, Market Divided on Lighter's Valuation Ahead of Airdrop

BlockBeats News, December 25th, according to HyperInsight monitoring, a whale address (0xdaa) continued to deposit $2.6 million into Hyperliquid as collateral yesterday and has opened a roughly $1.256 million 1x leverage LIT short position at an average price of $3.53, with a liquidation price of $6.98. As of the time of writing, the address is still actively increasing its position, with $970,000 of the collateral remaining unused.

Currently, LIT is trading at around $3.47, and based on pre-market price, its fully diluted valuation (FDV) is approximately $3.4 billion. In terms of market sentiment, data from the Polymarket platform shows that the probability of the bet "Lighter's FDV remains above $3 billion one day after listing" has decreased by about 7% today, currently standing at around 55%.

In a previous update on the 20th, Lighter transferred 250 million LIT tokens (approximately 25% of the total supply) to a new address. If this portion of tokens is all used for a future airdrop, each Lighter point would correspond to about 20.8 LIT tokens. Based on the current pre-market price, each point is valued at around $71.1, and the prevailing market view is that Lighter will airdrop on the 31st.