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Following
MNT 
LIT Lighter and Mantle whale trading volumes surge to new high in six months
Whale trading volumes between the Lighter and Mantle networks have jumped to their highest level since early 2026, coinciding with renewed turmoil in the broader altcoin market. According to updated data from Sanitation, LIT completed 86 transactions exceeding US$100,000 in a single day, while MNT made 37 large transfers. Both numbers set new highs for whale activity in six months on their respective networks. This time cannot be ignored: altcoins are becoming more volatile and large wallets seem to be getting ahead of retail investors who are still sifting through market noise.
The surge in LIT happens to be at the intersection of several slow-fermenting narratives. Lighter, a decentralized exchange with perpetual contracts, has recently sparked heated discussions around repurchase and destruction mechanisms, pledge income adjustments, and speculation about new partners, which provides a reason for whale action. The trading volume of perpetual contract DEX on various chains has performed mixed recently, but large-value transaction data on the chain often leads retail interest by several days. When whales take the lead, the key is whether they hoard chips ahead of the catalyst event or close their positions before retail investors have fully priced them.
For Mantle, whale signals seem to follow a different logic. The network is deeply promoting the tokenization of real-world assets and the tokenized stock space. There have been frequent activities in this field recently, and the scale of real-world asset tokenization has exceeded US$20 billion on the chain. Mantle\'s expansion in tokenized stocks and Pre-IPO vaults provides a still relatively undertapped entry path for large wallets. Thirty-seven transactions worth more than $100,000 indicate that significant funds have begun to view MNT as more than just another Layer 2 token.
Why whale timing is so important now
A surge in whale activity rarely occurs in isolation. They tend to be concentrated during periods of increased volatility in altcoins, in part because during periods of market turmoil, large holders are able to have a greater impact with a lower slip. At present, widespread altcoin volatility has driven some tokens to rise sharply, and this environment often wakes up capital that has been waiting and seeing before. LIT and MNT have not yet seen a spectacular price explosion, but the behavior of large wallets suggests that some participants are pre-empting narratives rather than chasing popularity.
Remaining uncertainties
Although the signal on the chain is strong, it leaves several unanswered questions. High whale trading volumes do not reveal whether funds are moving towards net purchases or net sales; they only confirm that large players are active. It is possible that some whales are selling chips while new buyers are taking over, leaving the net effect opaque until the price trend confirms the direction. In addition, the surge in LIT transaction volume may result from a single coordinated event (such as an agreement announcement or large liquidity provision) rather than widespread fundraising. For MNT, the RWA narrative is still developing, and if the adoption of tokenized stocks is slower than expected, the whale\'s attention may be premature. Traders focusing on these two assets need to combine Sanitation\'s whale data with exchange fund flow data and holder concentration trends to get a more comprehensive picture. At present, the data shows that large-value wallets are paying close attention. Whether this focus translates into continued price volatility depends on how the narrative develops in the coming weeks.
