Whale Holds a $6.04M LIT Short Position Near Liquidation as Price Rises

Odaily Planet Daily Report: LIT’s continued rally is squeezing short positions. A large whale has gradually closed approximately $3.6652 million in short positions, realizing a loss of $622,600; the remaining position is still near liquidation level. The whale has initiated a 5-hour TWAP buy order to cover 969,900 LIT tokens. Prior to opening this order, the whale held 1.8422 million LIT short positions; as of publication, 703,600 LIT have been covered, completing 72.55% of the plan. Currently, the whale holds 1.1386 million LIT short positions with 4x isolated leverage, valued at approximately $6.0431 million, at an average entry price of $4.324, with an unrealized loss of about $1.119 million. Meanwhile, LIT is trading at $5.30, approximately $0.1373 (2.59%) away from its liquidation price of $5.4450. The TWAP order is still active, with 266,300 LIT remaining to be covered, originally scheduled to conclude around 17:16 today; subsequent position reductions or margin adjustments may alter the liquidation price.