A whale entered the market with $2.6 million to short LIT, exacerbating market divergence in Lighter's valuation ahead of the airdrop.

[A whale deposits $2.6 million to short LIT, intensifying market divergence in Lighter valuation ahead of airdrop] According to Mars Finance, on December 25th, HyperInsight monitoring revealed that a whale address (0xdaa) deposited $2.6 million into Hyperliquid yesterday as margin and established a 1x leveraged short position in LIT of approximately $1.256 million, with an average price of $3.53 and a liquidation price of $6.98. As of press time, the address is still adding to its position, with $970,000 remaining unused in the margin. LIT is currently trading at approximately $3.47, with a fully diluted valuation (FDV) of approximately $3.4 billion based on pre-market prices. Regarding market sentiment, Polymarket data shows that the probability of betting that "Lighter's FDV will still exceed $3 billion one day after its IPO" has decreased by about 7% today, currently standing at approximately 55%. On the 20th, it was reported that Lighter had transferred 250 million LIT tokens (approximately 25% of the total supply) to a new address. If all of these tokens are used for a future airdrop, each Lighter point would correspond to approximately 20.8 LIT. Based on the current pre-market price, each point is worth approximately $71.1. Most market observers currently believe that Lighter will airdrop its tokens on the 31st.