LIT Whale Drops $6.9M on Exchanges Amid Listing Optimism

A significant whale transaction has raised sell-off concerns in the LIT token market. An anonymous whale address, beginning with 0x091D, transferred approximately $6.94 million worth of LIT tokens to OKX and Bybit exchanges via Cumberland, a well-known over-the-counter trading desk.

The transfer was executed in four transactions over two hours, according to blockchain tracking platform Onchain Lens. The use of Cumberland suggests the whale may be seeking to execute a large sell order without causing immediate slippage on public order books.

This development comes after Upbit listed LIT on its Korean won (KRW) trading pair, sparking initial optimism among holders due to increased visibility and trading volume.