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 established a roughly $1.256 million 1x leverage LIT short position, with an average price of $3.53 and 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. According to pre-market price, its fully diluted valuation (FDV) is approximately $3.4 billion. In terms of market sentiment, Polymarket platform data shows that the probability of betting on "Lighter maintaining an FDV of over $3 billion one day after listing" has decreased by about 7% today and is currently around 55%.

Previously, on the 20th, Lighter transferred 250 million LIT tokens (approximately 25% of the total supply) to a new address. Current on-chain data shows that around 12 million tokens have been distributed so far. If these tokens are all used for future airdrops, each point in Lighter would correspond to approximately 20.8 LIT tokens. Based on the current pre-market price, each point is worth around $72.1, and the prevailing market view is that Lighter will airdrop on the 31st.