A whale deposited $10 million USDC into Lighter and hedged it with 5x leverage against LIT.
According to Onchain Lens monitoring, despite the continued decline in LIT prices, a whale (0x226...1AeF) still deposited $10 million USDC into Lighter for hedging operations. This whale opened a short position in LIT with 5x leverage and simultaneously spent $2.2 million to buy 1.059 million LIT in the spot market at an average price of $2.08. The address currently holds $2.788 million USDC and may continue to buy.
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