Lighter (LIT)

$LIT already trading below its Series B valuation but numbers still solid after airdrop farming:

> $4B+ daily volume ($1B+ OI), top 4 overall
> ~$70M annualized revenue
> bought back ~1.217% of $LIT cir supply in a month after TGE (110.3% of revenue)

they’re even running a higher relative buyback yield on FDV at 4.26% vs 2.43% for $HYPE.

can argue it’s undervalued with $LIT P/E at 23.5x while $HYPE at 41.1x.

as traders keep using Lighter alongside Hyperliquid as another main venue, volume either goes higher or at least stays flat, revenue stays consistent, and $LIT supply keeps being reduced.

lighterliquid.

After the airdrop sell off - $LIT is finding its range of value so I think we're in store for something like this.

It's trading pretty weak even on the $BTC bounce so need to manage expectations with the bounce.

Lighter is not going anywhere - among the DEX space they are still in the #2 seat.

LIT is criminally undervalued at < 5% of HYPE.

Criminally undervalued for the talent and new features ahead.