Last night, Binance announced the listing of LITUSDT perpetual contracts for pre-market trading. The timing and price matched those of Lighter, the on-chain contract exchange soon to be airdropped, and the listing announcement also stated that the token was Lighter Protocol. However, the token description on Binance listed it as Litetry. It is currently speculated that this was an error with CoinMarketCap, which Binance uses; Binance has since removed the token information page.
Binance announces listing of Lighter pre-market
Binance announced in its listing announcement that it will launch pre-market trading of LITUSDT perpetual contracts on December 24th (UTC+8). The announcement explicitly states that the underlying asset is Lighter Protocol, describing it as a trading platform focused on perpetual contracts. Lighter is built on Ethereum and employs zero-knowledge aggregation technology, aiming to minimize latency and provide instant final confirmation.
Binance makes a listing blunder: Lighter or Literacy?
However, a major blunder occurred after the opening bell. The price of the LITUSDT trading pair on Binance was around 3.5-3.9, consistent with the real-time OTC price. However, the cryptocurrency information section used the Lighter logo, but the actual information listed the token as Litetry.
This token has been issued for quite some time, making it unlikely to be listed pre-market. Furthermore, its on-chain price of 0.12 clearly indicates it's not the same token as the one used in this trading pair. It's currently speculated that Binance made a mistake with CoinMarketCap; the token's information has since been removed, but Binance has not yet offered an explanation.
This article, titled "Binance LITUSDT Pre-Market Trading Goes Wrong: Lighter Protocol Becomes Litentry?", first appeared on ABMedia, a ABMedia .
