$LIT will follow $HYPE❓ After spending my Saturday researching, I'm highly convinced that @Lighter_xyz could become one of the most interesting stories in the race to challenge @HyperliquidX and establish itself as a leading perpetual DEX. The growth metrics coming out of Lighter increasingly support that thesis: – TVL: approximately ~$494-500M, primarily on Ethereum – Open Interest: roughly ~$665-727M – 24h Volume: around ~$1.3-1.5B – Monthly perp volume previously exceeded $200B and continues to rank among the top tier of the sector What's particularly interesting is that Lighter is already generating an estimated 20-29% of Hyperliquid's annualized revenue, while $LIT still trades at a significantly smaller valuation than $HYPE. One of the biggest misconceptions today is that Lighter is simply a Hyperliquid copy. I think that's a mistake. Lighter isn't trying to replicate Hyperliquid feature-for-feature. Instead, the protocol is focusing on: – Verifiable trading through ZK proofs – ZK-powered matching and liquidation mechanisms – Zero-fee commodities trading – Ethereum composability advantages – A strong mobile-first experience Hyperliquid's success came from exceptional product-market fit. Lighter appears to be pursuing a similar goal, but with a different technological approach and within the broader Ethereum ecosystem. I think the combination of growing volumes, improving fundamentals, Ethereum-native composability, and increasing RWA adoption creates a compelling long-term opportunity for Lighter. If the team continues executing at the current pace, $LIT could become one of the strongest contenders in the perpetual DEX sector over the coming years. DYOR & NFA.
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