• Coinbase Markets signaled a future spot listing for Lighter’s LIT token, pending liquidity conditions, shortly after the token’s launch.
• LIT traded near the $3 level during early price discovery, following initial volatility and a large community airdrop.
• Major perp DEX tokens such as Hyperliquid’s HYPE and Aster’s ASTER trended lower as traders rotated capital after LIT’s debut.

Coinbase said spot trading for Lighter’s LIT token will go live once liquidity conditions are met. This marks a major visibility milestone just hours after the token’s public launch. 

The announcement applies to regions where the LIGHTER-USD pair is supported and comes as LIT trades just below the $3 level during early price discovery. 

Sponsored

Sponsored

Coinbase Drives the Ligther Token Hype

The listing signal arrived on the same day Lighter completed its token generation event, releasing LIT into the market with roughly 25% of its 1 billion total supply circulating. 

Early trading showed sharp volatility, with LIT initially selling off before stabilizing in the $2.7–$2.9 range, according to market data shared by participants.

Lighter launched LIT as the native token for its Ethereum-based perpetual futures exchange, positioning it as the protocol’s core asset for governance, incentives, and future fee mechanics. 

Half of the total supply is allocated to the ecosystem, including a 25% community airdrop distributed to early users who accumulated points during 2025 incentive campaigns. 

Team and investor allocations remain locked for one year before vesting gradually over three years.

Sponsored

Sponsored

Hyperliquid and Aster Under Competitive Pressure

Meanwhile, broader perp DEX tokens moved lower following LIT’s debut. Hyperliquid’s HYPE token slipped around 1.5% on the day, while Aster’s ASTER token also trended down, despite no protocol-specific announcements. 

Traders attributed the synchronized dip to short-term capital rotation and hedging as a new competitor entered the sector.

Historically, launches of large-cap perp DEX tokens have triggered temporary pressure across the category as liquidity fragments and traders rebalance exposure. 

Lighter’s entry adds another high-valuation protocol into an already competitive market dominated by established platforms with deep liquidity and entrenched user bases.

Looking ahead, market participants will watch how LIT’s price behaves as airdrop recipients decide whether to hold or sell, and whether Lighter can convert launch-day attention into sustained trading activity. 

In the short term, volatility across perp DEX tokens is likely to remain elevated as the market absorbs the latest addition.

Disclaimer