LIGHTER RIPPED 22% TODAY ON CFTC FILING NEWS WHILE UNI AND HYPE BLED RED
This morning the DEX board split in two
One name ripped on real news
The old kings bled on no news
Scoreboard from today
$LIT ripped 22 percent to 3 dollars 89 at the morning peak and is holding near 3 dollars 67 up about 9 percent
$UNI is down almost 6 percent near 7 dollars
$HYPE is down over 3 percent near 78 dollars
Same sector opposite tapes
The fuel is not a rumor
Lighter said on its third quarter call it will file for CFTC derivatives licenses in November
The goal is to become the first on chain perps exchange with a US federal license
The team says it has been talking to regulators for 11 months
It already runs perps through Robinhood Chain on an even revenue split
It has over 1 million accounts and it bought back 15 million 500 thousand LIT to burn
Delphi Digital just named LIT a core pick in a new speculative trading report
My take as an analyst?
Regulated perps is the trade of the next year and the market just picked its horse
I weight LIT over every spot DEX token until November proves otherwise
Trade setup on $LIT
Entry zone 3 dollars 20 to 3 dollars 40 on any pullback
Target one 4 dollars 50 target two 5 dollars
Stop under 2 dollars 90
Invalidation is clean
A daily close under 2 dollars 90 and the breakout story is dead
And if the November filing slips the whole premium evaporates with it
Is LIT the new perps king or is this a sell the filing event in slow motion
Pick a side and tell me why
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #DEX
This morning the DEX board split in two
One name ripped on real news
The old kings bled on no news
Scoreboard from today
$LIT ripped 22 percent to 3 dollars 89 at the morning peak and is holding near 3 dollars 67 up about 9 percent
$UNI is down almost 6 percent near 7 dollars
$HYPE is down over 3 percent near 78 dollars
Same sector opposite tapes
The fuel is not a rumor
Lighter said on its third quarter call it will file for CFTC derivatives licenses in November
The goal is to become the first on chain perps exchange with a US federal license
The team says it has been talking to regulators for 11 months
It already runs perps through Robinhood Chain on an even revenue split
It has over 1 million accounts and it bought back 15 million 500 thousand LIT to burn
Delphi Digital just named LIT a core pick in a new speculative trading report
My take as an analyst?
Regulated perps is the trade of the next year and the market just picked its horse
I weight LIT over every spot DEX token until November proves otherwise
Trade setup on $LIT
Entry zone 3 dollars 20 to 3 dollars 40 on any pullback
Target one 4 dollars 50 target two 5 dollars
Stop under 2 dollars 90
Invalidation is clean
A daily close under 2 dollars 90 and the breakout story is dead
And if the November filing slips the whole premium evaporates with it
Is LIT the new perps king or is this a sell the filing event in slow motion
Pick a side and tell me why
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #DEX