Lighter CEO Addresses “FUD” Claims As LIT Price Dips 8% in 24 Hours
Lighter's CEO clarified claims about secret token sales following an 8% price drop in the LIT token amid FUD.Summary
The Lighter (LIT) token experienced a sharp price drop of 8.5% in 24 hours, trading near $2.43, following allegations of a secret token sale involving nearly 10 million LIT distributed to five wallets during the airdrop phase.
Lighter CEO Valdimir Novakovski addressed these concerns on Discord, explaining that the wallets belonged to a third-party liquidity provider (LLP) with whom Lighter had an agreement to ensure sufficient liquidity during the private beta. Novakovski asserted there was no personal relationship with this provider, who took a risk to bootstrap trading.
Despite the clarification, market sentiment remains bearish, dominated by Fear, Uncertainty, and Doubt (FUD). Technical indicators like the Chaikin Money Flow and On-Balance Volume (OBV) confirm sustained capital outflows and weakening conviction, suggesting investors are exiting positions. The short-term outlook remains pressured, with immediate support at $2.43 and a key resistance level at $2.66 for a potential recovery.
(Source：BeInCrypto)