A recent drop in the price of Lighter (LIT) has raised questions about its volatility. However, according to data from CoinMarketCap, a large whale deposit to Bybit appears to be the main cause of the 5.37% decline.
The whale deposit, worth around $4.98M, was sent by saviccauseway.eth and represents roughly 0.8% of LIT's circulating supply. This type of move usually signals intent to sell and adds immediate liquidity to the market, putting pressure on the price.
Lighter has been performing well recently, with a strong narrative support and new listings. Analyst Taiki Maeda even noted that LIT is one of the altcoins behaving like 'next cycle winners.' This positive context makes the whale exit look like classic profit taking rather than panic selling.