Ethereum

Lighter

Hyperliquid

<p>Justin Sun-linked wallets accumulated $33M in LIT, pushing his stake above 5% of circulating supply after Lighter’s token launch.</p>
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   <li>Justin Sun-linked wallets acquired roughly $33M worth of LIT post-launch.</li>
   <li>Holdings now represent about 5.32% of circulating LIT supply.</li>
   <li>Accumulation appears tied to Lighter’s liquidity program, not airdrop farming.</li>
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<p>A cluster of wallets linked to Justin Sun has quietly built a sizable position in Lighter’s newly launched LIT token.</p>
<p>On-chain data suggests the purchases were tied to liquidity provisioning rather than airdrop farming.</p>
<h2 class="wp-block-heading" id="wallet-activity-points-to-structured-lit-accumulation">Wallet activity points to structured LIT accumulation</h2>
<p>According to a Jan. 1 analysis by on-chain researcher MLM, four wallets associated with Justin Sun each received 1.6 million LIT shortly after the token generation event, totaling roughly 6.4 million LIT, valued at about $17 million at the time.</p>
<p>The wallets were funded between 34 and 50 minutes after Lighter’s airdrop allocation form closed, with no evidence that they participated in earlier points farming.</p>
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   <p>It appears that four wallets linked to <a href="https://twitter.com/justinsuntron?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@justinsuntron</a> each received exactly 1.6M LIT (~$4.3M) at TGE, likely as part of an LLP deposit deal. I couldn’t find any Justin Sun–linked wallets that farmed Lighter beforehand, and all four were funded roughly 34–50 minutes after the… <a rel="noopener noreferrer nofollow" href="https://t.co/hKCC7u7nyI">https://t.co/hKCC7u7nyI</a></p>— MLM (@mlmabc) <a href="https://twitter.com/mlmabc/status/2006750960266170552?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 1, 2026</a>
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<p>You might also like: <a href="https://crypto.news/lighter-surpasses-hyperliquid-30-day-perps-volume-2025/" rel="noopener noreferrer nofollow"> Lighter flips Hyperliquid in 30-day perps volume as competition heats up </a></p>
<p>Further activity shows Sun deposited close to $200 million into Lighter’s Liquidity Provider Program. He later withdrew around $38 million, using approximately $33 million of that amount to purchase an additional 13.25 million LIT on the market.</p>
<p>In total, the wallets now hold 14.89 million LIT, worth roughly $39.8 million, giving Sun control of about 5.32% of the circulating supply and 1.33% of total supply. Around $5.5 million remains in spot balances tied to the same cluster.</p>
<p>The data also hints that similar arrangements may exist for other large LLP participants. One wallet that deposited $50 million USDC into the program roughly a month earlier received 874,875 LIT, though attribution in that case is less certain due to indirect transfers.</p>
<h2 class="wp-block-heading" id="lit-under-pressure-post-airdrop">LIT under pressure post airdrop</h2>
<p>LIT <a href="https://crypto.news/lighter-dex-launches-lit-token-airdop-2025/" target="_blank" rel="noopener noreferrer nofollow">launched</a> on December. 30 as the native token of Lighter, a high-performance perpetual futures DEX built as an Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) zk-rollup. The token debuted with a 25% airdrop to early users and liquidity providers, instantly pushing the circulating supply to roughly 250 million tokens.</p>
<p>Tokenomics divides the supply equally between insiders and the ecosystem, with 24% going to investors and 26% going to the team. Both parties are subject to a one-year cliff and three years of linear vesting. LIT captures value through fee recycling, buybacks, staking, governance, and access to advanced features.</p>
<p>The ecosystem and insiders split the supply equally. Investors own 24% and the team owns 26%, and both allocations are locked for a year before vesting linearly over the next three years. LIT will capture value from the protocol through mechanisms such as fee recycling, buybacks, staking, governance, and access to higher-level features.</p>
<p>Since its launch, LIT has been under pressure due to liquidity withdrawals and post-airdrop profit-taking, which is a common occurrence for new tokens with wide distributions. The token debuted at roughly $3.40 during initial trading, but quickly experienced volatility, sliding about 30% shortly after to around $2.45–$2.80.</p>
<p>With $3.7 billion in 30-day volume and roughly $101 million in annualized fees, Lighter continues to report strong usage <a href="https://defillama.com/protocol/lighter" target="_blank" rel="noopener noreferrer nofollow">metrics</a> despite volatility. Long-term outlook depends on adoption, revenue sharing execution, and DeFi perp market growth.</p>
<p>Read more: <a href="https://crypto.news/bitcoin-millionaires-analysts-taurex-2025-stocks/" rel="noopener noreferrer nofollow"> Bitcoin still mints millionaires: Analysts call it one of 2025’s top wealth-building investments </a></p>

Justin Sun-linked wallets build 5% stake in Lighter’s LIT token with $33M purchase

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