Citing BlockBeats, a whale address (0xdaa) deposited $2.6 million in margin into Hyperliquid on December 24, 2025, establishing a $12.56 million 1x short position on LIT at an average price of $3.53, with a liquidation price of $6.98. As of the report, the address continued to add to its position, with $9.7 million in unused margin remaining. LIT is currently trading at around $3.47, with a fully diluted valuation (FDV) of approximately $3.4 billion. Market sentiment on Polymarket shows a 7% drop in the probability of Lighter’s FDV exceeding $3 billion one day after listing, now at 55%. Earlier, Lighter transferred 250 million LIT tokens (25% of total supply) to a new address, potentially for a December 31 airdrop, with each airdrop point estimated to be worth around $70 based on current pre-market prices.
Whale Deploys $2.6M Short Position on LIT Ahead of Lighter Airdrop
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Summary
On-chain data shows a whale address (0xdaa) deposited $2.6 million in margin on Hyperliquid on December 24, 2025, to open a $12.56 million 1x short on LIT at $3.53, with liquidation at $6.98. The position remains active, with $9.7 million in unused margin. On-chain analysis reveals LIT is trading at $3.47, with an FDV of $3.4 billion. Polymarket odds for FDV over $3 billion dropped to 55%. Lighter moved 250 million LIT (25% of supply) to a new address, likely for a December 31 airdrop, with each point valued at ~$70.
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