Dark pool decentralized exchange HumidiFi launched its WET token initial coin offering on Jupiter on December 3, featuring a three-stage first-come-first-served allocation totaling 100 million tokens across varying price points, the company announced. Stage 1 allocated 60 million WET (6% of total supply) at $0.50 USDC per token to Wetlist participants from 10:00 to 22:00 EST on December 3, implying a $50 million fully diluted valuation. Stage 2 offered 20 million WET (2% of supply) at $0.50 USDC to JUP stakers from 22:00 EST December 3 to 10:00 EST December 4, with eligibility determined by time-weighted JUP staking since July and purchase limits ranging from $200 to $10,000 USDC. Stage 3 provides 20 million WET (2% of supply) at $0.69 USDC during public sale from 10:00 to 22:00 EST on December 4, capped at $1,000 USDC per participant and corresponding to a $69 million fully diluted valuation.

A trader who had achieved nine consecutive profitable trades closed a 40x leveraged short position of 500 BTC at a loss exceeding $1.78 million on Dec. 2, Lookonchain data show. The trader had accumulated $2.12 million in profits across the nine winning trades. The single short position loss of over $1.78 million nearly wiped out the majority of previous gains.