Jez went from 20x long on mainstream coins to heavily investing in new coins. What game is this whale playing?

On-chain data just released, and the active whale Jez has taken new actions. This time, instead of playing with 20x leverage on mainstream coins, he deposited over 900,000 USDC into Lighter to directly purchase LIT. According to the latest news, Jez’s two wallets now hold a total of over 1.1 million LIT, worth approximately $2.8 million. What signals are being conveyed behind this move?

Jez’s Aggressive Strategy: From Leverage to Spot

Changes in Timeline Operations

Jez’s recent actions over the past week warrant close examination. According to relevant information, on January 1st, Jez deposited 2.06 million USDC into HyperLiquid, using 20x leverage to long BTC, ETH, and SOL simultaneously. This indicates strong confidence in the rebound of mainstream coins.

Just a day or two later, he deposited 908,412 USDC into Lighter to directly buy LIT. This shift is interesting — moving from high-risk 20x leverage to relatively stable spot holdings. What does this usually imply?

Logic Behind the New Coin Positioning

LIT is the token of the Lighter protocol, which only launched trading on December 30, 2025. In other words, it’s a new coin that has been listed for about four days. Jez’s early positioning suggests several points:

• He has insider information about the project, not just following the trend
• He is optimistic about Lighter’s long-term potential
• He has sufficient funds and risk tolerance to bet on new coins

According to available data, LIT is currently priced at $2.55, ranking 78th by market cap. Although it’s a new coin, it has already gained initial market recognition. Jez’s $2.8 million holding is like a real vote of confidence.

Multiple Market Signals and Interpretations

Whale Operations Reveal Mindset

Looking at Jez’s recent operation combination, his strategy appears diversified:

• Using high leverage to long mainstream coins (aggressive bullish stance)
• Holding spot positions on new coins (long-term optimism)
• Combining both approaches (short-term rebound + long-term layout)

This isn’t gambler’s mentality but a logical allocation of funds. He’s employing tools of different risk levels, aligned with different time horizons.

Opportunities and Risks of LIT as a New Coin

While LIT has attracted whale attention, as a coin listed less than a week ago, it carries obvious risks:

Jez’s $2.8 million stake may seem large, but relative to his total capital, it might just be a reasonable risk exposure.

Personal View: What Does This Signal?

From my perspective, Jez’s moves send several signals:

First, market sentiment is turning optimistic. His willingness to use 20x leverage on mainstream coins indicates confidence in a recent rebound. This aligns with recent market data — bulls are actively positioning.

Second, the new coin sector is beginning to attract significant capital. Not all whales invest heavily in new coins. Jez’s actions could attract other funds to follow suit, which often drives up the price of new coins, at least in the short term.

However, it’s important to remember that whale operations are not always correct. Their advantage lies in early information and ample capital, but they can also make mistakes. The fundamental risks of new coins remain unchanged.

Summary

Jez’s recent moves reflect a multi-layered active whale strategy: leveraging on mainstream coins to bet on rebounds, and deploying spot positions on promising new coins. This indicates rising market enthusiasm and growing attention to the new coin sector. For ordinary investors, the key is to understand why Jez is doing this, rather than blindly following. Whales have informational advantages and risk capacity, while retail investors should be more cautious. Watching the liquidity and market heat of LIT will be important, as these factors determine whether the new coin can sustain its momentum.