Whale Closes LIT Long Position After 34 Days, Suffers $3.7M Loss

Whale Trade Tracking: LIT Underperforms

According to Onchain Lens, a well-known whale address 0xf39 has fully closed its long position in LIT tokens after holding them for about 34 days.

Despite initial market interest, the whale’s position did not deliver the expected returns, resulting in a loss of approximately $3.7 million.

Technical Insights Behind the Loss

The market conditions during the whale’s initial purchase were notably different from the current environment. Over the past 34 days, LIT experienced significant price fluctuations but failed to maintain an upward trend.

• Weak market sentiment
• Project fundamentals fell short of expectations
• Broad sector weakness

These factors likely contributed to the disappointing outcome.