Cryptic_Slick retweeted
Upon digestion of the Lighter news, here are my opinions on $LIT:
-the regulated track was 𝐚𝐥𝐰𝐚𝐲𝐬 𝐠𝐨𝐢𝐧𝐠 𝐁𝐢𝐭𝐬𝐭𝐚𝐦𝐩 𝐟𝐢𝐫𝐬𝐭. Robinhood owns it and they have the relevant licenses. Bitstamp is pretty much dead.
-The token traded weak for ~3 weeks into the event
-The numbers look good
-Lighter is still pursuing the CFTC license. This is the big unlock and was always the mega bull case, easy distribution via Robinhood retails. Their technical architecture is ideal for this.
-Upon receipt of license, Robinhood can route Robinhood main app flow to Lighter. It would do this if Lighter offers the best price. This is generally the case. Lighter usually offers a better price than even Hyperliquid for the major assets. Bitstamp is no contest.
-no meaningful unstakes post news while perps gunned it down aggressively. Perps shorts need spot holders to capitulate. So far, unstaked LIT had their chance and staked holding strong.
𝐍𝐨𝐭𝐡𝐢𝐧𝐠 𝐫𝐞𝐚𝐥𝐥𝐲 𝐜𝐡𝐚𝐧𝐠𝐞𝐝. A lot hinges on the license, which we should find out soon. I am bullish on approval odds relative to the market (NFA, this is my opinion) and expect the resulting candle to be a big gap where it will be hard to reposition, even if you're at the screen.
Cryptic_Slick retweeted
This is correct
Expect everything to change once Lighter lands a CFTC license but for now Robinhood goes via the route it already did for Europe
I'm buying the $LIT dip heavy today
Cryptic_Slick retweeted
This $LIT dump is clearly an overreaction to the Robinhood news..
- Robinhood is bringing perps to eligible US users in its main app, reportedly through Bitstamp.
- but Bitstamp already handles its EU perps. that’s been running alongside Lighter’s separate Wallet integration in supported non-US markets, so the two already coexist.
- and Robinhood’s current Wallet docs still name Lighter as the exchange handling those trades. we don’t have confirmation that this deal is being removed.
- as for US access, @vnovakovski has discussed pursuing CFTC approval. if it gets DCM approval, that’s a step forward.
then let’s see whether Robinhood expands the deal.
so yeah, if you bought expecting immediate US expansion, i get the disappointment.
but that alone doesn’t mean Lighter’s existing Wallet business is gone.
or Am i missing something here ?
Cryptic_Slick retweeted
I keep saying I believe $NIGHT is going to pull a $ZEC, and I’ve explained why.
Zcash built its name on private payments. Midnight is bringing privacy into smart contracts and apps using zero-knowledge proofs. Prove what you need to prove without showing everybody your business.
I don’t believe people and companies are going to want their entire financial lives exposed just to use blockchain.
That’s a massive opportunity for Midnight if they execute. That’s what I’m looking at with $NIGHT.
Disclosure: Midnight sponsors The Breakdown.
The new Bitstamp news from Robinhood is not inherently bearish for $LIT
#Bitstamp and #Lighter serve different roles:
• Bitstamp = regulated CEX infrastructure
• Lighter = decentralized perpetuals infrastructure
#Robinhood already has a dedicated Lighter instance on Robinhood
Chain, and Robinhood Wallet users can trade perps through Lighter.
Lighter also committed 11M $LIT to the Robinhood community.
The Bitstamp announcement does not say Robinhood is replacing Lighter, ending the relationship, or moving Lighter's perp infrastructure to Bitstamp.
So for $LIT holders, the Bitstamp news doesn't appear to materially change the existing Robinhood × Lighter relationship. BUY THE DIP! #buythedip
Ape with size
pump.fun/callouts/Fj886GvHFy…
Cryptic_Slick retweeted
Always remember, in a bull market it's best to maximize your leverage and take out loans, maximize your credit cards, and borrow money from friends, family, and also especially people you do not know.
Remember to maximize your leverage so much that you have absolutely zero room to be wrong because it's a bull market. There is absolutely zero way that you could ever possibly be wrong
This is your only chance to make it and the only way to make it is with the highest levels of leverage possible. Also forget about stop losses. That's for people who are scared. Scared money don't make no money.
