Lighter (LIT) fell 11.2% in 24 hours to about $4.87 after sellers rejected a rally toward $5.50 following Bitwise’s launch of a Lighter Staking ETP. The token had gained more than 60% over the past month, while positive Exchange Netflow for four consecutive days suggested tokens were moving toward exchanges, although that metric alone does not prove selling. LIT also fell below its nine-day Moving Average, and the MACD (a momentum indicator) formed a bearish crossover at 0.35. The next token unlock is three months away. Staking (locking tokens to earn rewards) and buybacks could help absorb supply, but Bitwise’s ETP has not begun staking; Bitwise said the program would start once the product reached sufficient assets under management. If selling continues, LIT could test its 21-day Moving Average near $4.60 and potentially $4 in the following weeks, while reduced profit-taking could help it recover $5 and challenge $5.40.