KrakenTree

We asked our MCP to estimate the value of ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 using our onchain data. This is what it said: "Lighter trades at a $305M circulating Mcap and $1.22B FDV against $24M annualized fees and $792M open interest, which prices the token at 12.5x Mcap/Fees and 0.40x Mcap/OI versus Hyperliquid's 17.6x and 1.30x on the same Allium-derived metrics. Anchoring to HYPE with a 30-35% maturity discount (shorter operating history, 15% of HYPE's DAU, no formal governance) and blending 55% Mcap/Fees with 45% Mcap/OI lands a probability-weighted 12-month target of $2.26 per LIT on the 250M circulating divisor (+85% from spot), or $1.75 on the 322M forward-12-month diluted divisor that accounts for the December 2026 cliff (+43%)."

1/ I am early but I am not wrong 🧵 ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2: The Clarity Act Moment for Circle, is Ahead for Lighter The biggest trade in onchain derivatives last cycle was hyperliquid:native. The next one is ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 and it's setting up the same way Circle did into the Clarity Act. Regulatory tailwinds reward the operator who built for them. Lighter is the only perp DEX that did.

does anybody still follow the overlayed early bnb chart on the hype chart? if herd behaviour continues to rhyme q2-3 may be fun

asking people to read ai-generated text is offensive. this is not because ai text is intrinsically bad. rather, the author has not paid a cost to write the text himself. this cost is a credible signal he finds its communication important. so: not paying that cost is telling