2025-12-31 04:25:00

Lighter has airdropped again. This makes me want to complain a bit—can the on-chain perpetual contract track really accommodate so many projects?

Honestly, since mid-October, I haven't seen anyone really use real money to scoop up new projects. Looking back at the years when industry liquidity was at its peak, even the biggest projects' airdrops were just like this. Take a look at $HYPE, $ASTER, these former track leaders—how did their token prices perform after the airdrops? That’s true liquidity.

To be honest, if the track can produce one or two top projects, that’s considered a good result. In recent years, this track has been hit too hard, and I don’t believe in overly slick project promotions anymore—if you do believe, be prepared mentally.

Also, after browsing social media discussions, the accumulated $LIT held by the "grab-and-collect" crowd is almost more than the project's reserves. Now this is interesting—it's hard to tell who is the project team and who are participants. With liquidity concentrated to this extent, this move is definitely worth pondering.

LIT-44.04%

HYPE-1.29%

ASTER-0.12%

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NotSatoshi

· 2h ago

Here comes another airdrop to harvest the little guys. Is this track really saturated? The perpetual contract path is already half dead, yet some still insist on pushing through. I don't believe it anymore. This wave looks like a funeral for the bagholders. With liquidity dead to such an extent, what's the point of playing? Even small investors are richer than the project teams. What has become of the leading projects in this track? How can new projects catch up? $LIT is piling up in the hands of bagholders. Isn't that just a joke? Instead of betting on airdrops, it's better to see who can survive until next year.

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HashBrownies

· 2h ago

Airdrops again, is this the prelude to another round of rug pulls? Wait, do the meme traders have more money than the project teams? Isn't that a joke? The perpetual contract track should have been reshuffled long ago; if you can't make it to the top, you just can't make it. $LIT this wave looks like the final madness no matter how you see it. Liquidity... actually, it's been gone for a long time. Stop pretending.

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GateUser-40edb63b

· 2h ago

The perpetual contract track has been saturated for a long time; no matter how many airdrops there are, they can't save it. Can Lighter's current airdrop make a splash? To me, it looks like a last-ditch struggle before death. The hype around $HYPE back then is truly gone now; that was real market demand. The meme traders hold more coins than the project teams, isn't that outrageous? Honestly, after October, no one is genuinely entering the market; everyone is just waiting for the next wave of opportunities. Just hope that one or two leaders survive in this track, thank heaven and earth. Be mentally prepared; you might accidentally become the bag holder. The accumulated volume of $LIT looks like a liquidity trap from every angle.

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AirdropHunterXiao

· 2h ago

Another airdrop, lol. I've been numb for a long time. The bag-harvesting traders have more tokens than the project team. This track is really unbeatable. Liquidity has long disappeared, yet they're still bragging. $HYPE was true airdrop back then. Now, what is this all about? If perpetual contracts keep getting squeezed, there will really be no way out. I no longer believe any new project promotions. I'm afraid of losing money.

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Whale_Whisperer

· 2h ago

Another airdrop project. The track is really saturated, and it feels unoriginal. To be honest, who would still put real money into it now? Liquidity has long dried up. The coins hoarded by the bag-holders are even more than the project teams, which is quite ironic. In the perpetual contract track, only one or two top projects will survive in the end, the rest are just running along. Just look at how $HYPE and $ASTER died. The essence of current projects isn't much different.

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UncleLiquidation

· 2h ago

Perpetual contracts have been completely saturated for a long time; no matter how many airdrops there are, they can't save it. The bag-holders have more $LIT than the project team? That's just ridiculous. Honestly, after October, no one is really putting in real money; it's all just air. The liquidity back in the $HYPE days was truly impressive. Now? Heh. It's already a big deal if a project can become a leading player in this track; this time, really. Adding more projects is pointless; the pattern has been set. More airdrops actually indicate that the project is panicking; this signal is not hard to understand.

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