Lighter (LIT) came under heavy selling pressure on Sept. 30 after Robinhood confirmed its U.S. crypto perpetual futures rollout would be handled by Bitstamp, the exchange Robinhood acquired for $200 million in 2025. LIT traded near $3.86, down roughly 13% over 24 hours and 26% over seven days, after briefly sliding to about $3.70–$3.74.
Robinhood said eligible U.S. customers would get access to crypto perpetual contracts through Bitstamp. The initial asset list reportedly includes BTC, ETH, SOL, XRP, DOGE, ADA, LINK and HYPE, with leverage up to 10x on BTC and ETH and up to 3x on other assets. The announcement triggered an immediate repricing in LIT, which had previously benefited from its integration with Robinhood Wallet and expectations around U.S. perps order flow.
Although Robinhood had previously integrated Lighter perpetuals into Robinhood Wallet and its materials still describe Lighter as the platform in eligible jurisdictions, there was no public confirmation of a terminated integration. Even so, traders treated the Bitstamp decision as a competitive threat to Lighter’s potential U.S. volume, fee capture and token buyback narrative. LIT’s 24-hour volume was reported near $254 million.
Key technical levels include $3.64 as primary support and $3.92 as the reclaim level needed to restore the prior breakout structure. A sustained break below $3.64 could open downside toward $2.78.
Bitcoin held near $83,370, keeping within its $83,000–$85,000 range as futures open interest slipped to about $147 billion and liquidations fell to $196 million. U.S. Treasury yields remained elevated, with the 30-year yield above 5.6% and the 10-year yield near a 2007 high ahead of PCE inflation data. Among altcoins, Quant, LayerZero and Pump.fun rallied, while Hedera and Aave weakened, highlighting selective capital rotation rather than a broad market move.
