Lighter and Mantle, two Ethereum-adjacent networks with very different value propositions, are both experiencing their highest whale transaction activity in six months, according to on-chain data from Santiment.
Lighter’s whale magnets: buybacks and volume
Lighter operates as a zero-knowledge rollup built specifically for decentralized perpetual futures trading on Ethereum, where the ZK infrastructure handles order matching and throughput.
The protocol has been running an aggressive buyback program, repurchasing approximately 15.5 million of its native LIT tokens. That represents roughly 6.3% of the total token supply, funded directly from treasury revenues.
In a single seven-day window in early January, wallets accumulated over $3.8 million worth of LIT. One particularly notable wallet held around 13.2 million LIT, valued at approximately $40 million at the time.
