$675m Lighter Airdrop Becomes 10th Largest In Crypto History:...

Bubblemaps said Lighter airdropped $675 million in LIT, one of crypto’s biggest ever, as data shared on X suggested about 75% of recipients were still holding.

Lighter, a decentralized exchange (DEX) that offers perpetual futures trading, carried out one of the biggest token giveaways in crypto history, even as critics continued to question how the project split its token supply.

Lighter airdropped a total of $675 million worth of Lighter Infrastructure Tokens (LIT) to early participants on Tuesday, according to blockchain data visualization platform Bubblemaps. “$675M airdropped to early participants. $30M withdrawn from Lighter (only),” wrote Bubblemaps in a Tuesday X post.

The $675 million total makes the Lighter airdrop the 10th largest airdrop by US dollar value in cryptocurrency history, according to crypto data aggregator CoinGecko.

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The Lighter airdrop surpassed 1inch Network’s $671 million airdrop for the 10th place, but remained behind LooksRare’s $712 million airdrop from 2022.

However, the $675 million pales in comparison to the $6.43 billion of value distributed through the Uniswap airdrop in 2020, the largest in the industry to date.

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Some of Lighter’s earliest adopters, such as pseudonymous crypto investor Didi, reported receiving an over six-figure airdrop from the DEX.

As of Wednesday, about 75% of the airdrop recipients were holding the tokens, while 7% of recipients had bought more LIT tokens on the open market, signaling confidence in the long-awaited DEX token, according to data shared by blockchain sleuth Arndxt in an X post.

Source: CoinTelegraph