Lighter news

Bitcoin traded near $84,600 on Oct. 3, with Quant and Midnight leading weekly crypto gainers, rising 158.3% and 96.5%, respectively. Quant's rally followed The Clearing House's selection for its U.S. tokenized deposit network, while Midnight's gain came as permissionless smart contract deployment went live on mainnet. Lighter fell 28.7% after Robinhood outlined a U.S. derivatives rollout involving Bitstamp. MemeCore, Ethena and Zcash posted double-digit losses, with Ethena ahead of a vesting schedule overhaul and Zcash down 14.4% amid valuation concerns.

Bitwise has launched the first crypto ETP tracking Lighter, giving European investors exchange-traded exposure to the platform's LIT token. The Bitwise Lighter Staking ETP began trading on Deutsche Börse Xetra under the ticker BLIT, with an expense ratio of 0.85%. The product is fully backed by LIT tokens in cold storage and will initially track the price of LIT, with staking rewards activated once it reaches sufficient assets under management. LIT rose nearly 5% on Wednesday to around $5.30, extending a recovery of more than 580% since an all-time low near $0.78 in late March. Lighter is a decentralized exchange focused on perpetual futures, also offering contracts tracking stocks like Apple, Amazon, and Tesla. The launch follows Bitwise's Hyperliquid Staking ETP in April, as the firm expands into products tied to onchain trading platforms.

Bitwise has launched its first exchange traded product (ETP) tracking Lighter's LIT token on Deutsche Boerse Xetra under the ticker BLIT. The physically backed product, which charges a 0.85% annual fee, holds roughly $4.74 million in assets (1.01 million LIT), giving European investors exposure to the token via regular brokerage accounts without managing private keys. LIT traded around $5 on Sept. 23, up nearly 9% over 24 hours, but the token was already moving higher before the ETP launch. BLIT's size remains small compared with LIT's ~$1.27 billion market cap, limiting its immediate impact. Staking has not started and will only begin once BLIT reaches sufficient assets under management, a threshold Bitwise has not disclosed. The ETP follows Bitwise's earlier Hyperliquid products and expands its European staking lineup. Lighter is an Ethereum layer-2 decentralized exchange for perpetual futures, using zero-knowledge proofs, and has expanded into markets tied to stocks like Apple and Tesla.

Lighter's daily buybacks of its LIT token, funded from a $250 million float, are helping stabilize the token's price above $3.94, according to a report. The strategy has potential implications for Hyperliquid, with social media speculation suggesting it may amplify a short squeeze scenario. Market participants are watching these dynamics closely amid broader speculative activity in crypto markets. Prediction markets have adjusted their outlook on Hyperliquid, with the probability of it reaching $100 by year-end now at 58.5% YES, down from 65% a day earlier. This recalibration reflects a reassessment among traders, though the reliability of the buyback source remains a noted caveat. The report advises monitoring official announcements and broader market trends for further shifts.

Lighter is set to burn approximately 15.5 million LIT tokens, representing 6.3% of the circulating supply, in its first revenue-funded supply reduction. The burn follows a June tokenomics overhaul that redirects buybacks to permanent supply cuts. The exchange repurchased LIT using trading revenue from Q2 2026. LIT's price rose about 8% in 24 hours to $2.54 on July 10, though it remains below its December record of $7.86. The burn cuts supply once, but staking rewards emit roughly 7.5 million LIT annually, partially offsetting the reduction.

Lighter (LIT) surged over 20% to $2.6, a seven-month high, after the perpetuals exchange announced a tokenomics overhaul including permanent burns and a revised staking model. The token became the top gainer among the top 100 cryptocurrencies, extending its weekly rally to roughly 40%. The exchange has repurchased about 15.5 million LIT (6.3% of circulating supply) using revenue and plans to permanently reduce supply through burns on the Ethereum mainnet. First burn is expected after Q2 closes. Staking rewards will now be funded from a reserve of 250 million ecosystem tokens, targeting a 6% annualized yield. LIT still trades well below its December record of $7.86.

Lighter (LIT) surged over 20% in 24 hours to an intraday high of $1.23, its strongest level since March 18, making it the top performer among the 300 largest cryptocurrencies by market cap. Trading volume jumped 82% to $58.3 million, extending a three-day rally of roughly 30% that recovered earlier weekly losses. CoinGecko attributed the rally to three catalysts: Ethereum co-founder Vitalik Buterin mentioning Lighter as a notable Ethereum-based project during a fireside chat; an integration with trading terminal Tealstreet allowing direct market access; and the launch of a synthetic SpaceX pre-IPO perpetual futures market fueling speculative interest. Despite the rebound, LIT remains well below its December 2026 all-time high of $7.86, with the sustainability of the rally still uncertain as attention cools.

Telegram's Wallet has integrated with Ethereum-based DEX Lighter to offer perpetual futures trading to its 150 million users. The feature supports up to 50x leverage on over 50 assets, including crypto, commodities, and equities, without leaving the messaging app. The integration, built by The Open Platform, targets users in emerging markets where traditional brokerage infrastructure is limited. Access is restricted in jurisdictions like the US and UK. The move aims to simplify access to derivatives for Telegram's broad user base.

Wallet in Telegram launched native perpetual futures trading on April 2, 2026, powered by Lighter DEX, allowing users to trade over 50 markets with up to 50x leverage directly within the chat app, without external apps or third-party wallets. The integration follows a surge in on-chain derivatives volumes; Lighter processed $65.47 billion in March 2026, ranking fourth among perpetual DEXs. The LIT token rose 5% on the news. Lighter also opened its Partner Attribution program to developers, enabling integration of its infrastructure into other apps. While Lighter trails Hyperliquid, which processed $178.23 billion in March, the Telegram distribution reaching 150 million users could narrow the gap. Whether this user base converts to sustained trading volume remains to be seen.

Kite (KITE) rose 22.8% this week, reaching a new all-time high of $0.323, with potential to climb to $0.369 if buying pressure continues. A drop below $0.278 could signal a reversal. Lighter (LIT) fell 18% to an all-time low of $1.15 after losing the $1.31 support. A bounce toward $1.40 is possible if it reclaims $1.31, but a break below $1.15 could lead to further declines. Official Trump (TRUMP) is down 6% to $3.21, nearing its all-time low of $3.02. Increasing outflows suggest further downside, but a move above $3.44 could invalidate the bearish outlook.