Lighter Sees $250 Million Liquidity Drain Post-LIT Airdrop
- Liquidity Drain: Following the LIT airdrop, Lighter experienced a liquidity drain of approximately $250 million within 24 hours, indicating users' rapid strategic adjustments post-airdrop, which significantly impacted transaction activities and token prices.
- On-Chain Activity Analysis: According to Bubblemaps, around $201.9 million was withdrawn via Ethereum, with an additional $52.2 million through Arbitrum, reflecting users' tendencies to close hedge positions and explore new yield pathways after the airdrop.
- Trading Volume Plummets: The trading volume for LIT tokens dropped sharply from pre-airdrop levels of $8 billion to $15 billion down to roughly $2 billion, suggesting that liquidity withdrawals were not merely internal asset reshuffling but also led to a notable decrease in platform engagement.
- Market Performance Decline: Since December 30, the LIT token price has decreased by about 23%, falling from $3.37 to $2.57, with analysts attributing this short-term depreciation to post-airdrop sell-offs and uncertainties surrounding token distribution.
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Technical Analysis for BMT
Technical Sentiment Analysis for Bubblemaps (BMT) As of , Bubblemaps (BMT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BMT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BMT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bubblemaps (BMT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00825 | 0.0113 | 0.0146 | 0.0177 | 0.0209 | 0.024 | 0.0273 |
| Fibonacci | 0.0113 | 0.0138 | 0.0153 | 0.0177 | 0.0201 | 0.0216 | 0.024 |
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