“Bubblemaps CEO says outflows seen on Lighter on Dec. 31 are not uncommon as users rebalance hedging positions and move on to the next farming opportunity.”, — write: www.coindesk.com
In an X post, Bubblemaps questioned whether “all the (yield) farmers were leaving?” It also noted that Lighter users withdrew roughly $201.9 million worth of tokens on the Ethereum blockchain and approximately $52.2 million on arbitrum.
Nicolas Vaiman, CEO of Bubblemaps, told CoinDesk that “these outflows represent more or less 20% of Lighter’s total value locked (TVL) assets that total $1.4 billion per DeFiLlama”. He also said that, “while this is a large number, outflows like this following an airdrop are not uncommon as users rebalance hedging positions and move capital to the next farming opportunity.”
Vaiman said outflows similar to this one were seen after Hyperliquid and Aster launched their tokens and that it will “likely happen again with other airdrops such as the PERP DEX or Paradex, Extended”.
Natalie Newson, CertiK senior blockchain security researcher, also spoke with CoinDesk regarding this event: “Large withdrawals after TGEs are usually driven by airdrop farmers and early participants exiting their positions. This is seen beyond just Lighter, though. We see it across many token launches. Without clear insight into new token distributions, there’s a fog that allows a few insiders to operate and capture outsized gains shortly after launch.”
Leading up to the airdrop, LIT trading volume had remained relatively steady, ranging between $8 billion to $15 billion in November. However, in recent days, it dropped to as low as $2 billion, according to DeFiLlama data. The price of LIT has also dropped by nearly 23% since Dec. 30 from $3.37 to approximately $2.57.
KuCoin captured a record share of centralized exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the broader crypto market.
- KuCoin recorded over $1.25 trillion in total trading volume in 2025equivalent to an average of roughly $114 billion per monthmarking its strongest year on record.
- This performance translated into an all-time high share of centralized exchange volumeas KuCoin’s activity expanded faster than aggregate CEX volumeswhich slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly spliteach exceeding $500 billion for the year, signaling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activityreinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activityindicating structurally higher user engagement rather than short-lived volume spikes.
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The bank raised its price target on the shares to $24 from $9.50.
- KBW upgraded TeraWulf to outperform from market performance and raised its price target from $9.50 to $24.
- The bank said AI and HPC leasing will eclipse bitcoin mining as the company’s main earnings driver.
- Rapid EBITDA growth and valuation upside is expected as lease revenues scale.
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