According to Woofun AI, Lighter (LIT) recorded a 12.85% increase in the past 24 hours, topping the list of the top 100 cryptocurrencies by market capitalization, with a 7-day cumulative increase of 23.49%, and currently trading at $3.83.
This strong performance contrasts with the broader cryptocurrency market's decline of more than 2% over the same period, with all major mainstream coins in a downward channel. This divergence is not an accident, but is driven by two key pieces of information: a strategic report published by research firm Delphi Digital, and the other is Lighter's own substantial progress in regulatory compliance. Market funding is rapidly re-evaluating the project's value logic, shifting from simple asset price fluctuations to deep pricing of the platform's business model and regulatory position.
Delphi Digital released a report on October 20, clearly stating that speculation is the core theme of this century, and advises investors to hold platforms that profit from transactions through fees or user disbursement mechanisms rather than directly holding the underlying assets being traded. In the framework of this report, Lighter, Robinhood, and Hyperliquid were mentioned side by side, and are regarded as representative projects with similar profit logic. The report specifically notes that Lighter has a zero-fee policy for retail investors and distributes assets through Robinhood (HOOD.US) wallets. Since July, the wallet has launched Lighter's perpetual contract futures product in select markets outside the US.
Notably, Robinhood also participated in Lighter's financing round in November 2025, establishing close ties at the capital level. The report concluded: 'Lighter is clearly the second most noteworthy investment. '
According to data compiled by Woofun AI, Lighter's 30-day trading volume in early October was around $56 billion. For comparison, Hyperliquid's value was around $20bn in the same period, while Variational and Aster's trading volume was somewhere in between.
Although Lighter's deal is currently smaller than Hyperliquid's, its growth potential and unique distribution channels make it popular with institutions. Meanwhile, Lighter founder Vladimir Novakovski revealed that Lighter plans to submit a formal application to the US Commodity Futures Trading Commission (CFTC) in November.
This move marks a major breakthrough in the project party's compliance path. @Lighter_xyz has been in direct communication with the CFTC over the past few months to jointly develop rules relating to DeFi perpetual contracts. This kind of good working relationship with US regulators is considered more substantial than public opinion promotion, and also lays a solid foundation for future legalized operation of the project.
This week, traders have incorporated regulatory licensing expectations and Delphi Digital's research approval into the pricing model, driving LIT's stock price to double-digit growth. However, the current price of $3.83 is still less than half of its all-time high of $7.86 on December 30, 2025. This all-time high appeared on the day the airdrop campaign started. To recover from its current price to an all-time high, LIT would need to rise another approximately 105%. Over the next few months, Lighter faces two key points: the first is the progress of filing an application with the CFTC in November, which will verify whether the initial communication has been translated into a formal legal process; the second is the pace of issuing new tokens. According to the token economy model, the LIT token vesting period held by the team and investors will begin at the end of January 2027. Approximately 13.5 million tokens will be released for the first time in that month, accounting for half of the total amount released. The November application results will directly influence the market's judgment on subsequent selling pressure and compliance prospects, which in turn will determine whether it can close the gap with historical highs.