Binance LITUSDT Pre-market Trading Mix-up: Lighter Protocol Turns into Litentry?

Last night, Binance announced the listing of the LITUSDT perpetual contract for pre-market trading. The time and price matched those of the upcoming on-chain contract exchange Lighter, which is also indicated as the token for Lighter Protocol in the listing announcement. However, within Binance’s token information, the token is named Litentry. It is currently suspected that Binance’s integration with CoinMarketCap has an error, and Binance has removed the token information page.

Binance Announces Listing of Lighter Pre-Market

In the listing announcement, Binance stated that on December 24th, UTC+8, the LITUSDT perpetual contract will go live for pre-market trading. It explicitly specifies that the target is Lighter Protocol and describes Lighter Protocol as a trading platform focused on perpetual contracts. Lighter is built on Ethereum, utilizing zero-knowledge aggregation technology, aiming to minimize latency and provide instant finality.

(Lighter airdrop coming: Is a valuation of 3.7 billion reasonable? Is now the opportunity to get in or just catching the bag?)

Binance Listing Mishap, Lighter or Litentry

However, after the opening, it turned out to be a big mistake. The price of the LITUSDT trading pair on Binance was around 3.5~3.9, consistent with real-time OTC prices outside the exchange. But regarding the token information, it used the Lighter logo, yet the information was for a token named Litentry.

This token has been issued for a long time and is unlikely to be listed for pre-market trading. The on-chain price is 0.12, which clearly does not match the token in this trading pair. It is currently suspected that Binance’s use of CoinMarketCap has an error. The token information has been removed, but Binance has not yet explained the reason.

This article Binance LITUSDT pre-market trading mishap: Lighter Protocol becomes Litentry? first appeared on Chain News ABMedia.