$1.7 TRILLION Traded on Lighter. Does LIT Actually Win?

Lighter (LIT) just became the #3 perpetuals exchange, with over a trillion dollars traded and roughly $73M a year in revenue, and analysts at Bankless and Delphi peg it at a fraction of Hyperliquid's valuation. Real franchise, or does the discount never close for LIT? This is one catalyst, not the...