Tom Lee Calls Lighter 'a Massive Breakout Success' for Ethereum

Tom Lee, chairman of BitMine and co-founder of Fundstrat, has praised Lighter (LIT) as 'a massive breakout success' and a critical infrastructure layer for Ethereum.

In an interview with Bankless, Lee called out Lighter as one of the top Ethereum layer-2 winners, alongside Robinhood, Coinbase's Ink, and Kraken. This is notable because in his July investor message, Lighter was not on the list.

Lighter is a perp DEX that runs on zero-knowledge proofs, allowing users to trade crypto with leverage without a company holding their coins. The platform has seen significant growth, handling $43 billion in trading volume over 30 days and holding $822 million in open bets and $525 million in deposits.

Literally built from scratch by its founder, Vlad Novakovski, who finished Harvard at 18, the system took 18 months to build. Lee's endorsement of Lighter adds weight to Ethereum's infrastructure, which some see as a key component in making the blockchain more appealing to Wall Street.