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world.

[BNN @BNNBags]

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@kanavtwt has generated $1,322.92 in earnings on @BagsApp🎉

[kadet @nandayuda491]

@kanavtwt Respect

[Sipa @SipaCapital]

I've seen some misinformation circulating about $LIT PA, revenue and various entities from notable accounts lately, so I decided to dig deeper

Some people are blaming Jump and other MMs for selling their tokens and creating sell pressure, but this is actually incorrect

> Jump hasn't sold any tokens from the known wallets, in fact, they've added about 730k $LIT

> The LLP cluster of wallets (which received 10M tokens for providing liquidity in an early stage):

- Sold 2.7M tokens in December, according to MLM
- Sold 2M tokens in January, but only about 680k $LIT in the past 7 days

From on-chain data, the sell pressure we've seen recently has mostly come from airdrop recipients rather than these entities

> The percentage of users still holding their airdrop has decreased about 8% over the past week (from 56% to 49.5%)

> In the past 7 days, airdrop receivers have sold about 15.5M LIT, while the LLP cluster sold just 680k

> Of that 15.5M LIT sold, only about 5.8M has been bought back by other users

It's not manipulation or big entities dumping, it's capitulation from airdrop receivers, combined with still-thin liquidity

People claim that while entities were obligated to buy $HYPE, the same doesn't apply to LIT due to private deals, but this is also wrong

The last funding round was 5x oversubscribed (250M+ didn't get an allocation), and many of these VCs are now buying on the open market

I don't like it when people (especially big accounts) spread misinformation, which is why I dug into this

Overall, we have bad sentiment + on-chain metrics showing clear signs of capitulation. To me, this looks bullish in the medium term

I'm waiting for staking to launch, as I believe many of these entities (Jump, but also the LLP cluster) could stake a large part of their allocations. If that happens, the FUD could finally end

Communication hasn't been perfect, but the team is still shipping. In a week, everyone from Europe to the US will be able to use their mobile app

And no, daily revenue hasn't dropped below five figures like someone claimed, it's consistently been between $150k–$190k. Today it's actually $250k (90M annualized revenue)

I'm still confident that after this FUD and capitulation phase, we'll see a rally and many of the fudders and jeets will end up buying back higher later

[kadet @nandayuda491]

Yo

[kadet @nandayuda491]

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[kadet @nandayuda491]

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[kadet @nandayuda491]

Yo

[Elon Musk @elonmusk]

This is not ok