A giant whale deposited 10 million USDC into Lighter and hedged LIT with 5x leverage

According to Onchain Lens monitoring, despite the continuous decline in LIT prices, a certain whale (0x226…1AeF) still deposited 10 million USDC into Lighter for hedging operations.

The whale opened a LIT short position with 5x leverage, while spending 2.2 million dollars to buy 1.059 million LIT at an average price of 2.08 dollars in the spot market. Currently, the address still holds 2.788 million USDC and may continue to buy.