LIT's rally forces short sellers to stop out one after another, with $6 million in remaining positions still just 2.6% away from liquidation.

BlockBeats News, September 9 — According to TradingBeats monitoring, LIT's rally continues to squeeze short sellers. Although the whale address starting with 0x9996 has gradually closed out approximately $3.6652 million in short positions, realizing a $622,600 trading loss, its remaining position remains dangerously close to the liquidation price.

The whale has initiated a 5-hour TWAP buy order, planning to cover 969,900 LIT. Before initiating, it held 1,842,200 LIT in short positions; as of press time, it has covered 703,600 LIT, completing approximately 72.55% of the plan.

Currently, the whale holds 1,138,600 LIT in short positions with 4x isolated leverage, valued at approximately $6.0431 million, with an average opening price of $4.324 and an unrealized loss of about $1.119 million. Meanwhile, LIT is trading at $5.30, only about $0.1373 — or 2.59% — away from its liquidation price of $5.4450.

The TWAP is still executing, with 266,300 LIT remaining to be covered, originally scheduled to conclude around 17:16 today; subsequent position reductions or margin adjustments could alter the liquidation price.