Lighter (LIT) and Mantle (MNT) recorded their largest whale transaction spikes in six months.
The on-chain signal points to renewed attention towards both networks as altcoin prices swung sharply across the market this week.
On-chain analytics firm Santiment counted 86 LIT transactions above $100,000, the most in the past 6 months. The spike tracks a sharp rally in the token.
LIT jumped more than 20% on Monday to $2.6, its highest level since January. It has climbed roughly 37.9% over the past week. According to Santiment, the activity is tied to renewed attention on the token.
“renewed interest around its perp DEX narrative, tokenomics updates, buyback and burn mechanics, staking yield, and recent partnership buzz.”
Last month, the network introduced a tokenomics overhaul. It introduced a burn mechanism that will permanently reduce the LIT supply.
The exchange also reworked staking rewards, funding a 6% annualized yield from a 250 million LIT reserve. At press time, LIT traded at $2.6, up 0.19% over the past day.
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Meanwhile, Santiment recorded 37 MNT transactions above $100,000, also a six-month peak.
“Whales appear to be reacting to its growing RWA and tokenized equity push,” the firm noted.
In an H1 update, Mantle reported multiple all-time highs across its onchain economy. Its Decentralized Finance (DeFi) total value locked (TVL) crossed a record $1 billion, including $90 million in RWA DeFi TVL.
Stablecoin market capitalization hit a fresh all-time high of $955 million, up 120% year-on-year. The network now supports 155 tokenized stocks and holds a treasury above $1.8 billion.
“Stablecoins, tokenized equities, and vault deposits now form the core of Mantle’s onchain economy, the asset mix of a venue where capital goes to work,” Mantle said.
Nonetheless, the token has continued to move with the broader market. It dropped 2% over the past day to trade near $0.431. MNT has slipped roughly 11% over the past month, though it edged up about 1.4% over the week.
The pattern is clear. Large holders are paying attention to both tokens. Whether the momentum holds remains to be seen.
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The post These 2 Altcoins Just Flashed Their Biggest Whale Spike in 6 Months appeared first on BeInCrypto.
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