Oh wow, this round with $LIT is a bit intense.
Binance perpetuals just flashed around 5.17, opened about 4.74; in the last 24 hours it’s roughly +9.1%. The high tapped around 5.21, the low around 4.63. Volume is about 64 million U, with nearly 900k trades. Open position is around 15.85 million coins, roughly equivalent to 82 million U. Funding rate is about +0.005%.
Over the past week, it’s climbed steadily from around the 4-dollar area to the top—up roughly 30%.
The narrative isn’t flimsy either: Robinhood Wallet has just integrated Lighter perpetuals into a self-custody wallet, and the team also poured in 11 million $LIT into a community incentive pool, with a wallet-transaction points system that doubles rewards. Today, someone also dug up code related to Binary options in Lighter’s prover repo—nothing has been officially announced yet, but the direction is pretty aggressive.
My personal feeling is that this doesn’t look like a pure follow-the-crowd pump: on one side, the distribution channels are genuinely taking shape; on the other, the derivatives product line is still expanding. The chart has already broken above the 5-dollar psychological level—whether it can hold is mainly going to depend on whether wallet-side transaction flow can keep up.
$LIT
Binance perpetuals just flashed around 5.17, opened about 4.74; in the last 24 hours it’s roughly +9.1%. The high tapped around 5.21, the low around 4.63. Volume is about 64 million U, with nearly 900k trades. Open position is around 15.85 million coins, roughly equivalent to 82 million U. Funding rate is about +0.005%.
Over the past week, it’s climbed steadily from around the 4-dollar area to the top—up roughly 30%.
The narrative isn’t flimsy either: Robinhood Wallet has just integrated Lighter perpetuals into a self-custody wallet, and the team also poured in 11 million $LIT into a community incentive pool, with a wallet-transaction points system that doubles rewards. Today, someone also dug up code related to Binary options in Lighter’s prover repo—nothing has been officially announced yet, but the direction is pretty aggressive.
My personal feeling is that this doesn’t look like a pure follow-the-crowd pump: on one side, the distribution channels are genuinely taking shape; on the other, the derivatives product line is still expanding. The chart has already broken above the 5-dollar psychological level—whether it can hold is mainly going to depend on whether wallet-side transaction flow can keep up.
$LIT
