A Crypto Trader Loses Nearly $2 Million in On-Chain ETH-to-LIT Swap, Lookonchain Data Shows

A crypto trader made an on-chain swap on Sunday that resulted in a loss of nearly $2 million after exchanging 1,126.44 ETH for 5,776 LIT. According to Odaily, Lookonchain data showed the trader effectively paid about $348 per LIT, around 140 times LIT’s market price of $2.46 at the time of the transaction. Odaily reported that LIT rose 22.5% over the past 24 hours and gained 53.3% over the past week. The token’s market capitalization was reported at $675 million, with total value locked at $533.6 million and daily trading volume at $116.76 million. The report also said Lighter burned 15.5 million LIT on July 2, representing about 6.3% of the circulating supply.