Lighter (LIT) and Mantle (MNT) have posted their highest whale transaction activity in six months. On-chain analytics firm Santiment said transfers worth more than $100,000 jumped across both networks, a sign that large holders have become much more active while volatility in the altcoin market remains elevated.
Lighter recorded 86 whale transactions above the $100,000 mark, the strongest reading in the last six months. Mantle logged 37 transactions of the same size, also a six-month peak. The figures show stronger participation from large investors, but they do not reveal intent. The transfers could reflect buying, selling, portfolio rebalancing, over-the-counter settlement, or movements between private wallets.
Lighter draws whale attention through token design and exchange growth
Santiment linked Lighter’s spike to rising interest in its perpetual decentralized exchange ecosystem. The report pointed to recent tokenomics updates, a buyback-and-burn mechanism, staking rewards, and partnership discussions as key factors drawing larger players toward the asset.
The mechanics matter. A buyback and burn model reduces circulating supply over time, while staking incentives encourage holders to lock tokens rather than move to immediate selling. Combined with ecosystem expansion, those elements appear to have strengthened investor focus on Lighter during a period of sharp moves across altcoins.
Mantle sees larger transfers as RWA push expands
Mantle’s increase in whale activity came alongside its growing work in real-world asset tokenization. Santiment said large investors seem to be reacting to the network’s efforts around tokenized stocks, pre-IPO investment vaults, and additional ecosystem use cases tied to on-chain financial products.
Real-world assets remain one of the faster-growing blockchain segments. As more financial instruments move on-chain, infrastructure networks that support those products tend to draw more institutional attention. Mantle’s broader footprint in that area has become part of the setup behind the latest jump in large transactions.
Whale data alone does not settle the market outlook
Even with both assets reaching six-month highs in whale activity, the data does not define market direction on its own. Large transfers can signal accumulation, but they can also reflect internal reshuffling or settlement activity. Santiment’s numbers show that major investors are watching both ecosystems closely. They do not confirm whether those investors are building positions or reducing them.
For that reason, traders usually compare whale metrics with spot volume, exchange flows, and price action before drawing broader conclusions. What is clear for now is that Lighter and Mantle have moved back onto the radar of large capital, and that shift is happening alongside visible ecosystem developments in both projects.