Lighter drops 11% after Bitwise's LIT ETP launch, but staking hasn't started
- —LIT fell 11.2% to $4.87, losing $5 support
- —Bitwise launched a Lighter Staking ETP, but staking has not begun
- —46% of circulating LIT is staked, over 6% repurchased
- —Exchange Netflow stayed positive for four straight days, signaling possible further selling
Why it matters: Without staking, the ETP cannot absorb LIT supply; a break below $4.60 could open the door to $4.
Source: AMBCrypto