Lighter rallies 13% as retail buys – Why are whales still selling LIT?
Lighter (LIT) rallied over 13% in 24 hours, driven by a surge in perpetual futures trading volume on its decentralized exchange, which grew 34% in a week and hit a yearly daily high of $7.53 billion. Despite the gains and retail buying, LIT's price remained stagnant, trapped in a $1.40–$2.04 range. On-chain data revealed a tug-of-war: retail traders were opening long positions, while whales continued to sell and profit from short positions, creating significant sell pressure. For a sustained uptrend, LIT must break above key resistance levels at $1.805 and $2.041; otherwise, consolidation may continue.
ambcrypto02/08 04:03
