Two whales shorted LIT at a high level, each with unrealized gains exceeding $1 million.

BlockBeats news, September 30: LIT is currently trading at approximately $3.99, down about 11.4% in the past 24 hours. According to TradingBeats monitoring, this pullback has allowed two whales on Hyperliquid who shorted LIT at high levels to each gain over $1 million in unrealized profit from a single short position, with combined unrealized profit of about $2.11 million on the two positions.

The address starting with 0xbe195 holds a short position of about 1.148 million LIT, with a position value of about $4.58 million, an average entry price of about $4.95, and unrealized profit of about $1.102 million.

This address began building the short around $5.3 on September 25 and completed establishing this short position later that day.

The address starting with 0x60a8 holds a short position of about 1.138 million LIT, with a position value of about $4.54 million, an average entry price of about $4.87, and unrealized profit of about $1.005 million.

This address also began building the position on September 25, then continued adding to the short on September 26 and 29 at average prices of about $4.8 and $4.38, respectively, expanding the short position from about 836,400 LIT to about 1.138 million LIT.

This morning, Robinhood chose to launch perpetual contract services in the United States through its Bitstamp, which may have dampened market expectations for Lighter to capture its new trading flow, becoming a possible catalyst for LIT's short-term pullback.