$LIT Surges Past Hype & ETH, But Can It Hold On?

Lighter [$LIT] has surged by another 13% in the last 24 hours, making it its third consecutive green day. The altcoin reached a new local high of $4.67, with trading volume increasing significantly after the perpetual DEX was integrated into Robinhood Wallet.

This is not an isolated incident, as Lighter has been outperforming both Hyperliquid [$HYPE] and Ethereum [$ETH] over the past five months. In fact, it has outperformed them combined. The correlation coefficient between Lighter and Hyperliquid was 0.85 at press time, reinforcing growing DEX adoption.

The recent surge in Lighter's price can be attributed to the Robinhood effect, which has fueled network activity and increased fees. According to DefiLlama, protocol fees rose from $124K to $195K in the last 24 hours alone, with these fees buying back $LIT and reducing token supply.