Lighter Surges 13% to New High, Outpacing Hyperliquid and Ethereum
Lighter (LIT) has been making waves in the cryptocurrency market after surging by another 13% in the last 24 hours, marking its third consecutive green day. This impressive growth has propelled LIT to a new local high of $4.67, with trading volume skyrocketing due to the integration of its perpetual DEX into Robinhood Wallet.
The altcoin's performance has outpaced both Hyperliquid (HYPE) and Ethereum (ETH), with LIT boasting a whopping 465% return compared to HYPE's 136% and ETH's 24%. Over the past five months, Lighter has consistently outperformed its peers, with an impressive cumulative gain of 21 times that of HYPE.
The correlation coefficient between LIT and HYPE stands at a strong 0.85, indicating growing adoption of DEXs in the market. The perpetual DEX is slowly but steadily closing the gap between itself and Hyperliquid.