Whale Deposits $10 Million USDC Into Lighter and Executes 5x Leveraged Short on LIT Token

A whale investor has deposited $10 million USDC into the Lighter platform to implement a hedging strategy involving the LIT token. The investor opened a 5x leveraged short position on LIT while simultaneously purchasing over 1 million LIT tokens on the spot market at an average price of $2.08. The whale still holds approximately $2.79 million USDC and may continue to accumulate LIT tokens.