Justin Sun-Linked Wallets Accumulate $40M Worth of LIT

TheNewsCryptoPublished on 2026-01-02Last updated on 2026-01-02

Abstract

A number of wallets associated with Justin Sun have accumulated a significant amount of LIT tokens, the native asset of the Lighter decentralized exchange. On-chain analysis reveals that four wallets linked to Sun purchased 1.6 million LIT shortly after the token’s launch, eventually accumulating a total of 14.89 million LIT—valued at approximately $39.8 million. The activity was tied to liquidity provisioning rather than airdrop farming, with around $200 million deposited into Lighter’s Liquidity Provider Program. Sun now holds about 5.32% of the circulating supply. LIT launched on December 30 as part of a futures DEX on Ethereum zk-rollup, with 25% allocated to early users and liquidity providers. The token experienced volatility post-launch, dropping about 30% from its initial trading price of $3.40.

A number of wallets associated with Just Sun have silently made a quite large place in the newly launched LIT token by Lighter. The on-chain data has revealed that the purchases were linked to liquidity provisioning instead of airdrop farming.

The on-chain researcher MLM released its analysis on Jan 1, revealing that 4 wallets linked with Justin Sun accumulated 1.6 million LIT soon after the token generation event, taking the amount to about 6.4 million LIT, whose value is said to be around $17 million as per the current market rate.

The wallets’ funding took place 34 and 50 minutes after the closing of the Lighter airdrop allocation form. However, there is no proof that the wallets also participated in earlier points farming.

Adding more to this, the activity deposits around $200 million into the Lighter’s Liquidity Provider Program. Further, he took out about $38 million, using around $33 million to buy an extra 13.25 million LIT on the market. Totalling this, the wallets now have 14.89 million LIT, sitting at $39.8 million.

A Dig Into LIT

With this, Sun has around 5.32% of the circulating supply and 1.33% of the total supply. About $5.5 million stays in spot balances associated with the same group of wallets. The data has also dropped hints that similar arrangements may persist for other big LLP participants. A wallet deposited $50 million USDC in the programme and, after around a month, got 874,875 LIT via attribution.

Lighter rolled out LIT on December 30, an efficient, long-lasting futures DEX made as an Ethereum zk-rollup. With the launch, 25% was launched to early users and liquidity providers, quickly taking the circulating supply to around 250 million tokens.

After the launch, LIT is under the pressure because of liquidity withdrawals and post-airdrop profit-taking, which usually can be seen for new tokens having wide distributions. The debut price stood at around $3.40 at the time of initial trading but soon experienced volatility, falling around 30% to $2.45-$2.80.

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Related Questions

QHow much LIT did the wallets linked to Justin Sun accumulate, and what is its approximate value?

AThe wallets linked to Justin Sun accumulated 14.89 million LIT, with an approximate value of $39.8 million.

QWhat was the primary purpose of the purchases made by the Justin Sun-linked wallets according to on-chain data?

AAccording to on-chain data, the purchases were linked to liquidity provisioning, not airdrop farming.

QWhat percentage of the circulating and total supply of LIT does Justin Sun now hold?

AJustin Sun holds approximately 5.32% of the circulating supply and 1.33% of the total supply of LIT.

QWhen was the LIT token launched, and what is Lighter?

ALighter rolled out the LIT token on December 30. Lighter is an efficient, long-lasting futures DEX built as an Ethereum zk-rollup.

QWhat happened to the price of LIT shortly after its launch?

AShortly after its launch, the price of LIT experienced volatility, falling around 30% from its debut price of approximately $3.40 to a range of $2.45-$2.80 due to liquidity withdrawals and post-airdrop profit-taking.

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