According to Chainthink, on December 30, as Perp DEX Lighter began distributing airdrops, LIT’s long and short positions intensified. Hyperliquid data shows that long positions reached $11.5 million, while short positions hit $13.62 million in the past 24 hours. The pre-market price of LIT on Hyperliquid is currently $2.97, down 18.9% in 24 hours. Short positions account for 55.71% of total positions. The largest on-chain LIT holder, who had a 2x leveraged long position of 1,262,926 LIT (worth $4.01 million at an average entry price of $3.4052), is now facing a $550,000 floating loss.
LIT Price Drops 18.9% as Lighter Airdrop Sparks Increased Shorting Activity
ChainthinkShare
Summary
LIT price action fell 18.9% in 24 hours as Perp DEX Lighter’s airdrop strategy triggered a surge in shorting. Hyperliquid data shows short positions hit $13.62 million, outpacing longs at $11.5 million. The pre-market price is now $2.97. Short positions make up 55.71% of total. A major holder with a 2x leveraged long faces a $550,000 loss as LIT price action weakens.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.