"Big players moved"...2 Altcoins, Whale Trading Volume Surges to 6-Month High

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Amidst fluctuations in the altcoin market, the largest surge in whale transactions in six months has been observed in Lighter (LIT) and Mantle (MNT). Large transactions exceeding $100,000 followed one another, indicating that the movements of big players were focused on these two cryptocurrencies.

According to crypto media outlet BeInCrypto on July 7 (local time), on-chain analytics firm Santiment tracked 86 transactions over $100,000 for Lighter. This is the highest number in the last six months. LIT rose more than 20% to $2.6 on Monday and has increased by approximately 37.9% over the past week.

Santiment stated, "Interest in perpetual futures decentralized exchanges, tokenomics restructuring, buyback and burn mechanisms, staking yields, and recent partnership news are once again gaining attention." Lighter introduced a burn mechanism last month to permanently reduce the LIT supply. It also revamped its staking reward system, offering an annual yield of 6% using a 250 million LIT reserve.

Mantle also saw 37 large transactions exceeding $100,000. This is also the highest number in six months. Santiment analyzed, "Whales appear to be reacting to the expanding RWA (Real World Asset) and tokenized stock businesses."

Mantle's total value locked (TVL) in decentralized finance (DeFi) surpassed $1 billion for the first time ever. The TVL related to RWA recorded $90 million. The stablecoin market cap increased by 120% year-on-year to $955 million, setting a new all-time high. Mantle currently supports 155 tokenized stocks and holds over $1.8 billion in treasury assets.

Mantle stated, "Stablecoins, tokenized stocks, and vault deposits now form the core of Mantle's on-chain economy." MNT has fallen by approximately 11% over the past month but has risen by about 1.4% over the past week. BeInCrypto reported that both Lighter and Mantle have seen increased interest from large holders.

[Key Summary of Article]

-Lighter recorded 86 whale transactions over $100,000, reaching a six-month high.

-Mantle also recorded 37 large transactions over $100,000, with its RWA and tokenized stock businesses gaining attention.

-Mantle's stablecoin market cap increased by 120% year-on-year to $955 million, setting a new all-time high.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*