$LIT This token is similar to $ASTER and hype, created as a perp dex (decentralized perpetual contract). The airdrop is about to be released, and this month it has secured the number one trading volume in perp dex, but the OI (open interest) is only 1.54B, which is the weakest among the three.
First, let’s understand the fundamentals: the total token supply is 1 billion, with an initial circulation of 25%. The pre-market price is 2.37, which means a market cap of 600 million, and a valuation of 2.37 billion. (The pre-market opened at 3.7, and at that time the valuation was already 3.7 billion.) Those who understand this market know why it has this valuation.
Token distribution (with initial circulation in parentheses): Ecosystem: 50% (25%), Institutions: 24%, Team: 26%
Financing of 89 million, with institutional distribution at 24%, which means the average single token cost is 0.37, and at its peak, it was a standard institutional tenfold token.
Note that the current 25% in circulation is all used for the airdrop, meaning whatever the current market cap is, that’s how much can be dumped.
So the shorts were made at that time because of the high opening, along with a large amount of airdrop distribution, and definitely, some people would short for hedging. So I positioned myself in a short position ahead of time on the 24th, and as for the subsequent trend, it still depends on how many tokens the project party secretly allocated to themselves.
