Recently, a new interesting player has emerged in the zero-knowledge Rollup track. Lighter, a ZK DEX based on Ethereum, launched and immediately received a valuation of $1.89 billion. The LIT token remains stable at $1.902, with a circulating market cap of $473 million. What is the biggest highlight of this project? Zero-fee retail trading combined with high-frequency performance—using ZK technology to eliminate transaction fees.

From a data perspective, there is indeed something noteworthy. The 24-hour perpetual contract trading volume is $4.495 billion, approaching the level of Hyperliquid. Considering the project is still quite new, this growth rate is truly impressive. On-chain data is even more straightforward: all 1 billion LIT tokens were minted to the launch address, TVL has dropped to $1.142 billion, 24-hour revenue for holders is $637,000, and the total perpetual trading volume has reached $1.374 trillion. These figures can all be verified on-chain; they are not fabricated.

Since TGE and mainnet launch, Lighter has accumulated a group of early users. These users have received a considerable amount of airdrops through staking LIT and participating in governance. Technically speaking, the 4-hour RSI has already fallen to 32.72, entering oversold territory, but the MACD histogram has started to turn positive, which is an early bullish signal. The price found support at the lower Bollinger Band at $1.770. If it can break through the resistance at $1.990, along with increased trading volume, a new upward trend could be on the horizon.

Honestly, the emergence of Lighter indicates one thing: in the DEX track, genuine technological innovation can still capture market share. Even if some leading DEXs have already established moats, there are still opportunities for new directions. The combination of ZK cost advantages and performance improvements is indeed a formidable force.