Lighter (LIT) Token Drops 15% Following Staking Program Launch
Lighter (LIT) Token Drops 15% Following Staking Program Launch
The Lighter (LIT) token experienced a significant decline of nearly 15% within a 24-hour period, despite the recent launch of its new staking program. While the staking initiative aims to enhance utility and ecosystem alignment, the price drop is primarily attributed to post-launch selling pressure and broader market forces.
The Lighter (LIT) token has seen its value decrease by almost 15% over the past 24 hours. This notable drop occurred shortly after the platform announced the rollout of its new staking program, a development typically intended to boost a token's utility and integrate it further into its ecosystem.
Despite the addition of new utility through staking, the market's reaction has been largely negative. Analysts suggest that the decline is predominantly fueled by immediate post-launch selling activities and overarching market trends, which appear to have outweighed any positive impact from the new staking features.