$LIT is trading on a license it doesn't have yet — a story the tape already faded once.
I'm watching Lighter's token near $3.07 on KuCoin spot, down about 3% in 24 hours. It popped about 20% to near $3.90 on October 21, on plans to file for a CFTC derivatives license in November — then faded to about $3.08 by October 23.
Floor: $3.00, tested through late October and again on November 2.
Ceiling: $3.30, the November 1 bounce high.
Camp one says the filing opens US distribution and funds buybacks — 15.5 million tokens already burned from revenue. Camp two says a filing is not an approval: review can take 280 days, and no Robinhood US deal is confirmed. I land with camp two: priced for a filing, not a license.
My doubt is plain: an insider unlock looms, and the token sits more than 20% below its October pop high. A daily close below $3.00 flips this read.
Would you pay today's price for a 280-day filing review, or wait until it lands?
Not financial advice. DYOR.
$LIT #Altcoins #Lighter #CFTC #DeFi
I'm watching Lighter's token near $3.07 on KuCoin spot, down about 3% in 24 hours. It popped about 20% to near $3.90 on October 21, on plans to file for a CFTC derivatives license in November — then faded to about $3.08 by October 23.
Floor: $3.00, tested through late October and again on November 2.
Ceiling: $3.30, the November 1 bounce high.
Camp one says the filing opens US distribution and funds buybacks — 15.5 million tokens already burned from revenue. Camp two says a filing is not an approval: review can take 280 days, and no Robinhood US deal is confirmed. I land with camp two: priced for a filing, not a license.
My doubt is plain: an insider unlock looms, and the token sits more than 20% below its October pop high. A daily close below $3.00 flips this read.
Would you pay today's price for a 280-day filing review, or wait until it lands?
Not financial advice. DYOR.
$LIT #Altcoins #Lighter #CFTC #DeFi
