Lighter crashes below $4 as Robinhood repricing triggers $7.2M in liquidations
Lighter [LIT] has seen a pointy repricing following the instant influence of the Robinhood narrative supporting worth motion.
It rose from roughly $4.00 initially of September to $5.60 on the twenty fourth of September.
This acquire of round 40% was after Bitwise launched its Lighter Staking ETP. Although the rally was short-lived, it was primarily boosted by dealer anticipation of deeper integration with Robinhood wallets.
On the thirtieth of September, Lighter took one other hit after Robinhood shifted their focus towards BitStamp for eligible U.S. perpetual Futures.
As quickly as this was introduced, the worth broke the $4.00 degree of help that had been maintained for the reason that begin of September, and the worth continued to promote down till it reached $3.6719.
Worth then rebounded barely again to $3.7325. Alongside the decline, LIT’s quantity elevated by 183% to $204 million throughout this timeframe. This quantity represents the most important sale surge of the interval.
A reduction bounce stays doable, however $4.00 should be reclaimed to point out consumers are returning.
Liquidations amplify the sell-off
