$250M pulled from Lighter 24 hours after $675 million token airdrop
Roughly $250 million was withdrawn from the Lighter decentralized exchange shortly after its $675 million LIT token airdrop.Summary
Onchain data showed that approximately $250 million was withdrawn from the decentralized perpetual exchange Lighter within 24 hours following its airdrop of $675 million worth of LIT tokens. This outflow represented about 20% of Lighter's $1.4 billion total value locked (TVL). Nicolas Vaiman, CEO of Bubblemaps, stated that such large withdrawals after an airdrop are common as users rebalance hedging positions or move to new farming opportunities, citing similar events after Hyperliquid and Aster launches. CertiK researcher Natalie Newson added that these movements are typically driven by airdrop farmers exiting positions. Following the event, the price of LIT dropped nearly 23% from $3.37 to $2.57, and LIT trading volume had significantly decreased in the days leading up to the withdrawal.
(Source：CoinDesk)