LIT is holding its floor while Bitcoin slipped under $70,000 — and I'm watching whether that floor is a launchpad or a trapdoor.
The door is real: Sygnum added LIT for trading, custody and lending on November 9, and clients can post it as collateral for fiat. Lighter also plans US derivatives filings this month. The tape answered first — LIT jumped 10% to $3.49 on November 12, then gave some back. It's up ~6% in 24 hours, near $3.23.
Three ways this plays out. A daily close above $3.33 opens $3.52, rejected eight times. Hold $3.19–$3.33 and it's a range to trade, not chase. Lose $3.19 and $3.00 is next; a close under $3.00 kills my read.
The part that keeps me from getting comfortable: only a quarter of the supply circulates, so fully diluted value runs nearly 4x market cap, with an insider unlock landing December 29.
Are you watching LIT for the institutional door, or does the unlock overhang keep you sidelined?
NFA, DYOR.
$LIT $BTC #CryptoNews #Lighter #DEX #Sygnum
The door is real: Sygnum added LIT for trading, custody and lending on November 9, and clients can post it as collateral for fiat. Lighter also plans US derivatives filings this month. The tape answered first — LIT jumped 10% to $3.49 on November 12, then gave some back. It's up ~6% in 24 hours, near $3.23.
Three ways this plays out. A daily close above $3.33 opens $3.52, rejected eight times. Hold $3.19–$3.33 and it's a range to trade, not chase. Lose $3.19 and $3.00 is next; a close under $3.00 kills my read.
The part that keeps me from getting comfortable: only a quarter of the supply circulates, so fully diluted value runs nearly 4x market cap, with an insider unlock landing December 29.
Are you watching LIT for the institutional door, or does the unlock overhang keep you sidelined?
NFA, DYOR.
$LIT $BTC #CryptoNews #Lighter #DEX #Sygnum
