Lighter (LIT) l&agrave; m&#7897;t s&agrave;n giao d&#7883;ch h&#7907;p &#273;&#7891;ng t&#432;&#417;ng lai v&#297;nh vi&#7877;n phi t&#7853;p trung &#273;&#432;&#7907;c x&acirc;y d&#7921;ng tr&ecirc;n Ethereum Layer 2. Sau khi ph&acirc;n ph&#7889;i 25% t&#7893;ng cung th&ocirc;ng qua airdrop, nh&agrave; &#273;&#7847;u t&#432; k&#7923; v&#7885;ng v&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng c&#7911;a LIT s&#7869; ti&#7871;p t&#7909;c t&#259;ng tr&#432;&#7903;ng.
T&#7841;i sao nh&agrave; &#273;&#7847;u t&#432; v&#7851;n l&#7841;c quan v&#7873; ti&#7873;m n&#259;ng c&#7911;a Lighter, v&agrave; hi&#7879;n nay c&#7847;n l&#432;u &yacute; nh&#7919;ng r&#7911;i ro g&igrave;? B&agrave;i vi&#7871;t d&#432;&#7899;i &#273;&acirc;y s&#7869; ph&acirc;n t&iacute;ch k&#7929; h&#417;n c&aacute;c v&#7845;n &#273;&#7873; n&agrave;y.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-lighter-valuation-surpasses-pump-fun-and-jupiter">Gi&aacute; tr&#7883; c&#7911;a Lighter v&#432;&#7907;t Pump.fun v&agrave; Jupiter</h2>

Tr&#432;&#7899;c &#273;&acirc;y, Lighter <a href="https://fortune.com/2025/11/11/lighter-fundraise-founders-fund-ribbit-capital-haun-ventures-robinhood-vladimir-novakovski/" target="_blank" rel="noreferrer noopener nofollow">g&#7885;i v&#7889;n th&agrave;nh c&ocirc;ng 68 tri&#7879;u USD</a> v&#7899;i m&#7913;c &#273;&#7883;nh gi&aacute; 1.5 t&#7927; USD. Ngay sau khi ra m&#7855;t, <a href="https://vn.beincrypto.com/coinbase-lists-ligther-lit-token/" target="_blank" rel="noreferrer noopener">Coinbase &#273;&atilde; ni&ecirc;m y&#7871;t LIT</a> v&#7899;i c&#7863;p giao d&#7883;ch LIGHTER-USD. Gi&aacute; c&#7911;a LIT bi&#7871;n &#273;&#7897;ng quanh m&#7913;c 2.7&ndash;2.9 USD, v&#7889;n h&oacute;a pha lo&atilde;ng ho&agrave;n to&agrave;n (FDV) kho&#7843;ng <a href="https://beincrypto.com/price/lighter/" target="_blank" rel="noreferrer noopener">2.7 t&#7927; USD</a>.
Sau khi airdrop, th&#7883; tr&#432;&#7901;ng ghi nh&#7853;n s&#7921; tham gia c&#7911;a m&#7897;t c&aacute; m&#7853;p l&#7899;n. Theo t&agrave;i kho&#7843;n ph&acirc;n t&iacute;ch Lookonchain, <a href="https://x.com/lookonchain/status/2006187631982657591" target="_blank" rel="noreferrer noopener nofollow">&iacute;t nh&#7845;t ba v&iacute; c&aacute; m&#7853;p &#273;&atilde; n&#7841;p 9.98 tri&#7879;u USDC v&agrave;o Lighter &#273;&#7875; mua LIT</a>.
B&aacute;o c&aacute;o t&#7915; BeInCrypto <a href="https://vn.beincrypto.com/lighter-price-prediction-3-12-whales/" target="_blank" rel="noreferrer noopener">cho bi&#7871;t</a> nh&#7919;ng nh&agrave; &#273;&#7847;u t&#432; l&#7899;n &#273;ang thu mua LIT tr&ecirc;n th&#7883; tr&#432;&#7901;ng. H&agrave;nh &#273;&#7897;ng n&agrave;y gi&uacute;p duy tr&igrave; &aacute;p l&#7921;c mua v&agrave; h&#7895; tr&#7907; gi&aacute; token. &#272;i&#7873;u n&agrave;y cho th&#7845;y m&#7897;t s&#7889; nh&agrave; &#273;&#7847;u t&#432; tin LIT c&ograve;n nhi&#7873;u ti&#7873;m n&#259;ng t&#259;ng tr&#432;&#7903;ng, &#273;&#7863;c bi&#7879;t khi LIT &#273;ang &#7903; giai &#273;o&#7841;n d&ograve; gi&aacute; &#273;&#7847;u ti&ecirc;n.
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/UBixlXgcnUFOSa7revgG_imEROc=/smart/271514704b9e4bfe8f5aafebd4fb6baa" alt="Top Decentralized Exchange (DEX) Altcoin According to FDV. Source: CoinGecko" class="wp-image-786920">C&aacute;c altcoin s&agrave;n phi t&#7853;p trung (DEX) d&#7851;n &#273;&#7847;u d&#7921;a tr&ecirc;n v&#7889;n h&oacute;a pha lo&atilde;ng ho&agrave;n to&agrave;n (FDV). Ngu&#7891;n: <a href="https://www.coingecko.com/en/categories/decentralized-exchange" target="_blank" rel="noreferrer noopener nofollow">CoinGecko</a>

Theo s&#7889; li&#7879;u c&#7911;a CoinGecko, <a href="https://www.coingecko.com/en/categories/decentralized-exchange" target="_blank" rel="noreferrer noopener nofollow">Lighter d&ugrave; m&#7899;i ra m&#7855;t nh&#432;ng v&#7889;n h&oacute;a &#273;&atilde; v&#432;&#7907;t qua Pump.fun v&agrave; Jupiter</a>. Hi&#7879;n Lighter &#273;&#7913;ng th&#7913; t&#432; trong nh&oacute;m c&aacute;c token <a href="https://beincrypto.com/top-picks/best-decentralized-exchanges/" target="_blank" rel="noreferrer noopener">s&agrave;n phi t&#7853;p trung</a> (DEX), ch&#7881; sau Hyperliquid, Aster v&agrave; Uniswap.
Nhi&#7873;u nh&agrave; &#273;&#7847;u t&#432; k&#7923; v&#7885;ng FDV c&#7911;a Lighter s&#7869; kh&ocirc;ng d&#7915;ng l&#7841;i &#7903; 2.7 t&#7927; USD m&agrave; c&ograve;n c&oacute; th&#7875; t&#259;ng cao h&#417;n n&#7919;a.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-investors-expect-lighter-lit-valuation-to-match-aster-or-even-hyperliquid">Nh&agrave; &#273;&#7847;u t&#432; k&#7923; v&#7885;ng gi&aacute; tr&#7883; Lighter (LIT) s&#7869; ngang b&#7857;ng Aster ho&#7863;c th&#7853;m ch&iacute; Hyperliquid</h2>

C&oacute; m&#7897;t s&#7889; l&yacute; do &#273;&#7875; nh&agrave; &#273;&#7847;u t&#432; tin t&#432;&#7903;ng nh&#432; v&#7853;y.
Th&#7913; nh&#7845;t, v&#7873; m&#7913;c &#273;&#7897; ch&uacute; &yacute;, Lighter &#273;ang r&#7845;t n&#7893;i b&#7853;t. Theo Dexu AI, hi&#7879;n Lighter (LIT) l&agrave; d&#7921; &aacute;n c&oacute; &#273;&#7897; ph&#7911; s&oacute;ng th&ocirc;ng tin cao nh&#7845;t trong c&aacute;c giao th&#7913;c ph&aacute;i sinh v&#297;nh vi&#7877;n.
Sau Jupiter v&agrave; Hyperliquid, Lighter &#273;ang c&oacute; m&#7913;c t&#259;ng &#7845;n t&#432;&#7907;ng v&#7873; l&#432;&#7907;ng &ldquo;ng&#432;&#7901;i theo d&otilde;i th&ocirc;ng minh&rdquo;. Ngo&agrave;i ra, c&#7897;ng &#273;&#7891;ng y&ecirc;u th&iacute;ch Lighter (maxis) c&#361;ng r&#7845;t m&#7841;nh, &#273;&#7913;ng th&#7913; ba ch&#7881; sau Hyperliquid v&agrave; Aster.
Th&#7913; hai, d&ugrave; m&#7899;i ra m&#7855;t nh&#432;ng Lighter &#273;&atilde; &#273;&#7841;t kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch 24 gi&#7901; ngang ng&#7917;a v&#7899;i Aster v&agrave; r&#7845;t s&aacute;t Hyperliquid. Kh&#7889;i l&#432;&#7907;ng 7 ng&agrave;y v&agrave; 30 ng&agrave;y c&#7911;a Lighter th&#7853;m ch&iacute; c&ograve;n cao h&#417;n c&#7843; hai &#273;&#7889;i th&#7911; n&agrave;y.
<blockquote class="max-w-xl text-4.5 border-l-2 border-blue-600 pl-11 mb-9 select-all [&amp;_p]:!mb-0 wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
&ldquo;Cu&#7897;c &#273;ua r&#7845;t s&iacute;t sao. Hyperliquid. Lighter. Aster. Ch&#7881; m&#7897;t s&#7869; chi&#7871;n th&#7855;ng&hellip;&rdquo; nh&agrave; &#273;&#7847;u t&#432; Alex <a href="https://x.com/Shilllin/status/2005983531118518681" target="_blank" rel="noreferrer noopener nofollow">chia s&#7867;</a>.
</blockquote>

<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/WzHiLLUDT4h7rmrsiugqBWM4LSc=/smart/e76736591e5d45f1ab9d47f50d77a478" alt="" class="wp-image-786927">Kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch perp theo t&#7915;ng giao th&#7913;c. Ngu&#7891;n: <a href="https://defillama.com/perps" target="_blank" rel="noreferrer noopener nofollow">DefiLlama</a>

V&igrave; v&#7853;y, nhi&#7873;u nh&agrave; &#273;&#7847;u t&#432; <a href="https://x.com/coin_casanova/status/2005964754519814385" target="_blank" rel="noreferrer noopener nofollow">nh&#7853;n &#273;&#7883;nh</a> r&#7857;ng Lighter ho&agrave;n to&agrave;n c&oacute; c&#417; h&#7897;i &#273;&#7841;t v&#7889;n h&oacute;a pha lo&atilde;ng (FDV) t&#432;&#417;ng t&#7921; nh&#432; Aster, kho&#7843;ng <a href="https://beincrypto.com/price/aster-2/" target="_blank" rel="noreferrer noopener">5.5 t&#7927; USD</a>. N&#7871;u k&#7883;ch b&#7843;n n&agrave;y x&#7843;y ra, gi&aacute; LIT c&oacute; th&#7875; t&#259;ng g&#7845;p &#273;&ocirc;i so v&#7899;i m&#7863;t b&#7857;ng hi&#7879;n t&#7841;i l&agrave; 2.7 USD.
M&#7897;t s&#7889; nh&agrave; &#273;&#7847;u t&#432; th&#7853;m ch&iacute; c&ograve;n <a href="https://x.com/ryandcrypto/status/2006065628050870432" target="_blank" rel="noreferrer noopener nofollow">k&#7923; v&#7885;ng</a> LIT s&#7869; v&#432;&#7907;t qua HYPE. Hi&#7879;n <a href="https://beincrypto.com/learn/hyperliquid-review/" target="_blank" rel="noreferrer noopener">Hyperliquid</a> c&oacute; FDV kho&#7843;ng 25 t&#7927; USD. &#272;i&#7873;u n&agrave;y &#273;&#7891;ng ngh&#297;a LIT c&oacute; th&#7875; t&#259;ng g&#7847;n g&#7845;p 10 l&#7847;n n&#7871;u &#273;&#7841;t &#273;&#432;&#7907;c th&agrave;nh t&iacute;ch t&#432;&#417;ng t&#7921;.
Tuy nhi&ecirc;n, nh&#7919;ng ph&eacute;p so s&aacute;nh tr&ecirc;n ch&#7911; y&#7871;u d&#7921;a v&agrave;o t&acirc;m l&yacute; k&#7923; v&#7885;ng, hi&#7879;u &#7913;ng truy&#7873;n th&ocirc;ng v&agrave; s&#7921; &ldquo;hype&rdquo;. M&#7897;t s&#7889; chuy&ecirc;n gia c&#361;ng l&ecirc;n ti&#7871;ng ph&#7843;n &#273;&#7889;i quan &#273;i&#7875;m n&agrave;y.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-what-about-the-risks">C&ograve;n nh&#7919;ng r&#7911;i ro th&igrave; sao?</h2>

M&#7897;t ng&#432;&#7901;i d&ugrave;ng X t&ecirc;n Henrik <a href="https://x.com/Henrik_on_HL/status/2006142642208342503" target="_blank" rel="noreferrer noopener nofollow">chia s&#7867;</a> r&#7857;ng Lighter &#273;&atilde; m&#7845;t kho&#7843;ng 25% t&#7893;ng v&#7883; th&#7871; m&#7903; (open interest) trong 3 tu&#7847;n g&#7847;n &#273;&acirc;y. Ngo&agrave;i ra, khi so s&aacute;nh t&#7927; l&#7879; P/E gi&#7919;a hai d&#7921; &aacute;n, d&#7877; th&#7845;y gi&aacute; LIT hi&#7879;n &#273;ang b&#7883; &#273;&#7883;nh gi&aacute; cao h&#417;n HYPE d&ugrave; y&#7871;u h&#417;n v&#7873; y&#7871;u t&#7889; c&#417; b&#7843;n.
<blockquote class="max-w-xl text-4.5 border-l-2 border-blue-600 pl-11 mb-9 select-all [&amp;_p]:!mb-0 wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
&ldquo;Nh&igrave;n v&agrave;o t&igrave;nh h&igrave;nh hi&#7879;n t&#7841;i, LIT &#273;ang c&oacute; gi&aacute; cao h&#417;n HYPE d&#7921;a tr&ecirc;n c&#7843; s&#7889; li&#7879;u v&#7873; l&#432;&#7907;ng cung l&#432;u h&agrave;nh v&agrave; gi&aacute; tr&#7883; pha lo&atilde;ng ho&agrave;n to&agrave;n, d&ugrave; n&#7873;n t&#7843;ng y&#7871;u h&#417;n. Ngo&agrave;i ra, 100% doanh thu c&#7911;a Hyperliquid &#273;&#7873;u &#273;&#432;&#7907;c d&ugrave;ng &#273;&#7875; mua l&#7841;i token, trong khi c&aacute;ch ph&acirc;n ph&#7889;i doanh thu v&agrave; gi&aacute; tr&#7883; token c&#7911;a LIT v&#7851;n ch&#432;a r&otilde; r&agrave;ng. V&#7873; c&#417; b&#7843;n, LIT hi&#7879;n ch&#432;a c&oacute; &#273;&#7897;ng l&#7921;c th&uacute;c &#273;&#7849;y n&#7893;i b&#7853;t v&agrave; vi&#7879;c nh&agrave; &#273;&#7847;u t&#432; nh&#7887; l&#7867; tranh th&#7911; nh&#7853;n airdrop r&#7891;i b&aacute;n ra ch&#7855;c s&#7869; c&ograve;n ti&#7871;p di&#7877;n th&#7901;i gian t&#7899;i,&rdquo; Henrik <a href="https://x.com/Henrik_on_HL/status/2005986447166144545" target="_blank" rel="noreferrer noopener nofollow">cho bi&#7871;t</a>.
</blockquote>

<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/3ipvbEkHBXe5Es0G3dxl-0J3bDM=/smart/aec8845eb035444e94ddc1fa7ea94fc3" alt="Comparison between LIT and HYPE. Source: Henrik" class="wp-image-786930" style="width:1024px;height:auto">So s&aacute;nh gi&#7919;a LIT v&agrave; HYPE. Ngu&#7891;n: <a href="https://x.com/Henrik_on_HL/status/2005986447166144545" target="_blank" rel="noreferrer noopener nofollow">Henrik</a>

B&ecirc;n c&#7841;nh &#273;&oacute;, vi&#7879;c doanh thu gi&#7843;m m&#7841;nh sau s&#7921; ki&#7879;n Token Generation Event (TGE) c&#361;ng g&acirc;y kh&ocirc;ng &iacute;t lo ng&#7841;i. Nh&agrave; ph&acirc;n t&iacute;ch TylerD <a href="https://x.com/Tyler_Did_It/status/2006010212008808567" target="_blank" rel="noreferrer noopener nofollow">nh&#7853;n &#273;&#7883;nh</a> r&#7857;ng doanh thu c&#7911;a Lighter &#273;&atilde; lao d&#7889;c t&#7915; 1.5 tri&#7879;u USD/ng&agrave;y v&agrave;o 21/11/2023 xu&#7889;ng c&ograve;n 150,000 USD/ng&agrave;y trong th&aacute;ng 12/2023. &#272;&acirc;y l&agrave; m&#7913;c gi&#7843;m t&#7899;i m&#432;&#7901;i l&#7847;n.
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/ljy-lPq6aJg1W3H4sE_t04V8438=/smart/419751ac8fad486fabc7ad0d8b37c7d6" alt="" class="wp-image-786932">Doanh thu h&agrave;ng ng&agrave;y c&#7911;a Lighter. Ngu&#7891;n: <a href="https://defillama.com/protocol/lighter?revenue=true&amp;fees=false" target="_blank" rel="noreferrer noopener nofollow">DefiLlama</a>

D&#7919; li&#7879;u l&#7883;ch s&#7917; c&#361;ng cho th&#7845;y vi&#7879;c khuy&#7871;n kh&iacute;ch nh&#7853;n airdrop th&#432;&#7901;ng khi&#7871;n kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch t&#259;ng m&#7841;nh, t&#7915; &#273;&oacute; doanh thu t&#7841;m th&#7901;i t&#259;ng l&ecirc;n. Tuy nhi&ecirc;n, &#273;&#7875; ph&aacute;t tri&#7875;n b&#7873;n v&#7919;ng l&acirc;u d&agrave;i, Lighter c&#7847;n ch&#7913;ng minh &#273;&#432;&#7907;c l&#7907;i th&#7871; c&#7841;nh tranh r&otilde; r&#7879;t so v&#7899;i c&aacute;c &#273;&#7889;i th&#7911;. D&#7921; &aacute;n c&#361;ng c&#7847;n duy tr&igrave; s&#7913;c ch&#7889;ng ch&#7883;u khi th&#7883; tr&#432;&#7901;ng chung bi&#7871;n &#273;&#7897;ng.

Định giá của Lighter vượt Pump.fun và Jupiter: Liệu LIT có thể vượt Hyperliquid?

Lighter (LIT) l&agrave; m&#7897;t s&agrave;n giao d&#7883;ch h&#7907;p &#273;&#7891;ng t&#432;&#417;ng lai v&#297;nh vi&#7877;n phi t&#7853;p trung &#273;&#432;&#7907;c x&acirc;y d&#7921;ng tr&ecirc;n Ethereum Layer 2. Sau khi ph&acirc;n ph&#7889;i 25% t&#7893;ng cung th&ocirc;ng qua airdrop, nh&agrave; &#273;&#7847;u t&#432; k&#7923; v&#7885;ng v&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng c&#7911;a LIT s&#7869; ti&#7871;p t&#7909;c t&#259;ng tr&#432;&#7903;ng.
T&#7841;i sao nh&agrave; &#273;&#7847;u t&#432; v&#7851;n l&#7841;c quan v&#7873; ti&#7873;m n&#259;ng c&#7911;a Lighter, v&agrave; hi&#7879;n nay c&#7847;n l&#432;u &yacute; nh&#7919;ng r&#7911;i ro g&igrave;? B&agrave;i vi&#7871;t d&#432;&#7899;i &#273;&acirc;y s&#7869; ph&acirc;n t&iacute;ch k&#7929; h&#417;n c&aacute;c v&#7845;n &#273;&#7873; n&agrave;y.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-lighter-valuation-surpasses-pump-fun-and-jupiter">Gi&aacute; tr&#7883; c&#7911;a Lighter v&#432;&#7907;t Pump.fun v&agrave; Jupiter</h2>

Tr&#432;&#7899;c &#273;&acirc;y, Lighter <a href="https://fortune.com/2025/11/11/lighter-fundraise-founders-fund-ribbit-capital-haun-ventures-robinhood-vladimir-novakovski/" target="_blank" rel="noreferrer noopener nofollow">g&#7885;i v&#7889;n th&agrave;nh c&ocirc;ng 68 tri&#7879;u USD</a> v&#7899;i m&#7913;c &#273;&#7883;nh gi&aacute; 1.5 t&#7927; USD. Ngay sau khi ra m&#7855;t, <a href="https://vn.beincrypto.com/coinbase-lists-ligther-lit-token/" target="_blank" rel="noreferrer noopener">Coinbase &#273;&atilde; ni&ecirc;m y&#7871;t LIT</a> v&#7899;i c&#7863;p giao d&#7883;ch LIGHTER-USD. Gi&aacute; c&#7911;a LIT bi&#7871;n &#273;&#7897;ng quanh m&#7913;c 2.7&ndash;2.9 USD, v&#7889;n h&oacute;a pha lo&atilde;ng ho&agrave;n to&agrave;n (FDV) kho&#7843;ng <a href="https://beincrypto.com/price/lighter/" target="_blank" rel="noreferrer noopener">2.7 t&#7927; USD</a>.
Sau khi airdrop, th&#7883; tr&#432;&#7901;ng ghi nh&#7853;n s&#7921; tham gia c&#7911;a m&#7897;t c&aacute; m&#7853;p l&#7899;n. Theo t&agrave;i kho&#7843;n ph&acirc;n t&iacute;ch Lookonchain, <a href="https://x.com/lookonchain/status/2006187631982657591" target="_blank" rel="noreferrer noopener nofollow">&iacute;t nh&#7845;t ba v&iacute; c&aacute; m&#7853;p &#273;&atilde; n&#7841;p 9.98 tri&#7879;u USDC v&agrave;o Lighter &#273;&#7875; mua LIT</a>.
B&aacute;o c&aacute;o t&#7915; BeInCrypto <a href="https://vn.beincrypto.com/lighter-price-prediction-3-12-whales/" target="_blank" rel="noreferrer noopener">cho bi&#7871;t</a> nh&#7919;ng nh&agrave; &#273;&#7847;u t&#432; l&#7899;n &#273;ang thu mua LIT tr&ecirc;n th&#7883; tr&#432;&#7901;ng. H&agrave;nh &#273;&#7897;ng n&agrave;y gi&uacute;p duy tr&igrave; &aacute;p l&#7921;c mua v&agrave; h&#7895; tr&#7907; gi&aacute; token. &#272;i&#7873;u n&agrave;y cho th&#7845;y m&#7897;t s&#7889; nh&agrave; &#273;&#7847;u t&#432; tin LIT c&ograve;n nhi&#7873;u ti&#7873;m n&#259;ng t&#259;ng tr&#432;&#7903;ng, &#273;&#7863;c bi&#7879;t khi LIT &#273;ang &#7903; giai &#273;o&#7841;n d&ograve; gi&aacute; &#273;&#7847;u ti&ecirc;n.
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/UBixlXgcnUFOSa7revgG_imEROc=/smart/271514704b9e4bfe8f5aafebd4fb6baa" alt="Top Decentralized Exchange (DEX) Altcoin According to FDV. Source: CoinGecko" class="wp-image-786920">C&aacute;c altcoin s&agrave;n phi t&#7853;p trung (DEX) d&#7851;n &#273;&#7847;u d&#7921;a tr&ecirc;n v&#7889;n h&oacute;a pha lo&atilde;ng ho&agrave;n to&agrave;n (FDV). Ngu&#7891;n: <a href="https://www.coingecko.com/en/categories/decentralized-exchange" target="_blank" rel="noreferrer noopener nofollow">CoinGecko</a>

Theo s&#7889; li&#7879;u c&#7911;a CoinGecko, <a href="https://www.coingecko.com/en/categories/decentralized-exchange" target="_blank" rel="noreferrer noopener nofollow">Lighter d&ugrave; m&#7899;i ra m&#7855;t nh&#432;ng v&#7889;n h&oacute;a &#273;&atilde; v&#432;&#7907;t qua Pump.fun v&agrave; Jupiter</a>. Hi&#7879;n Lighter &#273;&#7913;ng th&#7913; t&#432; trong nh&oacute;m c&aacute;c token <a href="https://beincrypto.com/top-picks/best-decentralized-exchanges/" target="_blank" rel="noreferrer noopener">s&agrave;n phi t&#7853;p trung</a> (DEX), ch&#7881; sau Hyperliquid, Aster v&agrave; Uniswap.
Nhi&#7873;u nh&agrave; &#273;&#7847;u t&#432; k&#7923; v&#7885;ng FDV c&#7911;a Lighter s&#7869; kh&ocirc;ng d&#7915;ng l&#7841;i &#7903; 2.7 t&#7927; USD m&agrave; c&ograve;n c&oacute; th&#7875; t&#259;ng cao h&#417;n n&#7919;a.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-investors-expect-lighter-lit-valuation-to-match-aster-or-even-hyperliquid">Nh&agrave; &#273;&#7847;u t&#432; k&#7923; v&#7885;ng gi&aacute; tr&#7883; Lighter (LIT) s&#7869; ngang b&#7857;ng Aster ho&#7863;c th&#7853;m ch&iacute; Hyperliquid</h2>

C&oacute; m&#7897;t s&#7889; l&yacute; do &#273;&#7875; nh&agrave; &#273;&#7847;u t&#432; tin t&#432;&#7903;ng nh&#432; v&#7853;y.
Th&#7913; nh&#7845;t, v&#7873; m&#7913;c &#273;&#7897; ch&uacute; &yacute;, Lighter &#273;ang r&#7845;t n&#7893;i b&#7853;t. Theo Dexu AI, hi&#7879;n Lighter (LIT) l&agrave; d&#7921; &aacute;n c&oacute; &#273;&#7897; ph&#7911; s&oacute;ng th&ocirc;ng tin cao nh&#7845;t trong c&aacute;c giao th&#7913;c ph&aacute;i sinh v&#297;nh vi&#7877;n.
Sau Jupiter v&agrave; Hyperliquid, Lighter &#273;ang c&oacute; m&#7913;c t&#259;ng &#7845;n t&#432;&#7907;ng v&#7873; l&#432;&#7907;ng &ldquo;ng&#432;&#7901;i theo d&otilde;i th&ocirc;ng minh&rdquo;. Ngo&agrave;i ra, c&#7897;ng &#273;&#7891;ng y&ecirc;u th&iacute;ch Lighter (maxis) c&#361;ng r&#7845;t m&#7841;nh, &#273;&#7913;ng th&#7913; ba ch&#7881; sau Hyperliquid v&agrave; Aster.
Th&#7913; hai, d&ugrave; m&#7899;i ra m&#7855;t nh&#432;ng Lighter &#273;&atilde; &#273;&#7841;t kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch 24 gi&#7901; ngang ng&#7917;a v&#7899;i Aster v&agrave; r&#7845;t s&aacute;t Hyperliquid. Kh&#7889;i l&#432;&#7907;ng 7 ng&agrave;y v&agrave; 30 ng&agrave;y c&#7911;a Lighter th&#7853;m ch&iacute; c&ograve;n cao h&#417;n c&#7843; hai &#273;&#7889;i th&#7911; n&agrave;y.
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&ldquo;Cu&#7897;c &#273;ua r&#7845;t s&iacute;t sao. Hyperliquid. Lighter. Aster. Ch&#7881; m&#7897;t s&#7869; chi&#7871;n th&#7855;ng&hellip;&rdquo; nh&agrave; &#273;&#7847;u t&#432; Alex <a href="https://x.com/Shilllin/status/2005983531118518681" target="_blank" rel="noreferrer noopener nofollow">chia s&#7867;</a>.
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<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/WzHiLLUDT4h7rmrsiugqBWM4LSc=/smart/e76736591e5d45f1ab9d47f50d77a478" alt="" class="wp-image-786927">Kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch perp theo t&#7915;ng giao th&#7913;c. Ngu&#7891;n: <a href="https://defillama.com/perps" target="_blank" rel="noreferrer noopener nofollow">DefiLlama</a>

V&igrave; v&#7853;y, nhi&#7873;u nh&agrave; &#273;&#7847;u t&#432; <a href="https://x.com/coin_casanova/status/2005964754519814385" target="_blank" rel="noreferrer noopener nofollow">nh&#7853;n &#273;&#7883;nh</a> r&#7857;ng Lighter ho&agrave;n to&agrave;n c&oacute; c&#417; h&#7897;i &#273;&#7841;t v&#7889;n h&oacute;a pha lo&atilde;ng (FDV) t&#432;&#417;ng t&#7921; nh&#432; Aster, kho&#7843;ng <a href="https://beincrypto.com/price/aster-2/" target="_blank" rel="noreferrer noopener">5.5 t&#7927; USD</a>. N&#7871;u k&#7883;ch b&#7843;n n&agrave;y x&#7843;y ra, gi&aacute; LIT c&oacute; th&#7875; t&#259;ng g&#7845;p &#273;&ocirc;i so v&#7899;i m&#7863;t b&#7857;ng hi&#7879;n t&#7841;i l&agrave; 2.7 USD.
M&#7897;t s&#7889; nh&agrave; &#273;&#7847;u t&#432; th&#7853;m ch&iacute; c&ograve;n <a href="https://x.com/ryandcrypto/status/2006065628050870432" target="_blank" rel="noreferrer noopener nofollow">k&#7923; v&#7885;ng</a> LIT s&#7869; v&#432;&#7907;t qua HYPE. Hi&#7879;n <a href="https://beincrypto.com/learn/hyperliquid-review/" target="_blank" rel="noreferrer noopener">Hyperliquid</a> c&oacute; FDV kho&#7843;ng 25 t&#7927; USD. &#272;i&#7873;u n&agrave;y &#273;&#7891;ng ngh&#297;a LIT c&oacute; th&#7875; t&#259;ng g&#7847;n g&#7845;p 10 l&#7847;n n&#7871;u &#273;&#7841;t &#273;&#432;&#7907;c th&agrave;nh t&iacute;ch t&#432;&#417;ng t&#7921;.
Tuy nhi&ecirc;n, nh&#7919;ng ph&eacute;p so s&aacute;nh tr&ecirc;n ch&#7911; y&#7871;u d&#7921;a v&agrave;o t&acirc;m l&yacute; k&#7923; v&#7885;ng, hi&#7879;u &#7913;ng truy&#7873;n th&ocirc;ng v&agrave; s&#7921; &ldquo;hype&rdquo;. M&#7897;t s&#7889; chuy&ecirc;n gia c&#361;ng l&ecirc;n ti&#7871;ng ph&#7843;n &#273;&#7889;i quan &#273;i&#7875;m n&agrave;y.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-what-about-the-risks">C&ograve;n nh&#7919;ng r&#7911;i ro th&igrave; sao?</h2>

M&#7897;t ng&#432;&#7901;i d&ugrave;ng X t&ecirc;n Henrik <a href="https://x.com/Henrik_on_HL/status/2006142642208342503" target="_blank" rel="noreferrer noopener nofollow">chia s&#7867;</a> r&#7857;ng Lighter &#273;&atilde; m&#7845;t kho&#7843;ng 25% t&#7893;ng v&#7883; th&#7871; m&#7903; (open interest) trong 3 tu&#7847;n g&#7847;n &#273;&acirc;y. Ngo&agrave;i ra, khi so s&aacute;nh t&#7927; l&#7879; P/E gi&#7919;a hai d&#7921; &aacute;n, d&#7877; th&#7845;y gi&aacute; LIT hi&#7879;n &#273;ang b&#7883; &#273;&#7883;nh gi&aacute; cao h&#417;n HYPE d&ugrave; y&#7871;u h&#417;n v&#7873; y&#7871;u t&#7889; c&#417; b&#7843;n.
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&ldquo;Nh&igrave;n v&agrave;o t&igrave;nh h&igrave;nh hi&#7879;n t&#7841;i, LIT &#273;ang c&oacute; gi&aacute; cao h&#417;n HYPE d&#7921;a tr&ecirc;n c&#7843; s&#7889; li&#7879;u v&#7873; l&#432;&#7907;ng cung l&#432;u h&agrave;nh v&agrave; gi&aacute; tr&#7883; pha lo&atilde;ng ho&agrave;n to&agrave;n, d&ugrave; n&#7873;n t&#7843;ng y&#7871;u h&#417;n. Ngo&agrave;i ra, 100% doanh thu c&#7911;a Hyperliquid &#273;&#7873;u &#273;&#432;&#7907;c d&ugrave;ng &#273;&#7875; mua l&#7841;i token, trong khi c&aacute;ch ph&acirc;n ph&#7889;i doanh thu v&agrave; gi&aacute; tr&#7883; token c&#7911;a LIT v&#7851;n ch&#432;a r&otilde; r&agrave;ng. V&#7873; c&#417; b&#7843;n, LIT hi&#7879;n ch&#432;a c&oacute; &#273;&#7897;ng l&#7921;c th&uacute;c &#273;&#7849;y n&#7893;i b&#7853;t v&agrave; vi&#7879;c nh&agrave; &#273;&#7847;u t&#432; nh&#7887; l&#7867; tranh th&#7911; nh&#7853;n airdrop r&#7891;i b&aacute;n ra ch&#7855;c s&#7869; c&ograve;n ti&#7871;p di&#7877;n th&#7901;i gian t&#7899;i,&rdquo; Henrik <a href="https://x.com/Henrik_on_HL/status/2005986447166144545" target="_blank" rel="noreferrer noopener nofollow">cho bi&#7871;t</a>.
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<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/3ipvbEkHBXe5Es0G3dxl-0J3bDM=/smart/aec8845eb035444e94ddc1fa7ea94fc3" alt="Comparison between LIT and HYPE. Source: Henrik" class="wp-image-786930" style="width:1024px;height:auto">So s&aacute;nh gi&#7919;a LIT v&agrave; HYPE. Ngu&#7891;n: <a href="https://x.com/Henrik_on_HL/status/2005986447166144545" target="_blank" rel="noreferrer noopener nofollow">Henrik</a>

B&ecirc;n c&#7841;nh &#273;&oacute;, vi&#7879;c doanh thu gi&#7843;m m&#7841;nh sau s&#7921; ki&#7879;n Token Generation Event (TGE) c&#361;ng g&acirc;y kh&ocirc;ng &iacute;t lo ng&#7841;i. Nh&agrave; ph&acirc;n t&iacute;ch TylerD <a href="https://x.com/Tyler_Did_It/status/2006010212008808567" target="_blank" rel="noreferrer noopener nofollow">nh&#7853;n &#273;&#7883;nh</a> r&#7857;ng doanh thu c&#7911;a Lighter &#273;&atilde; lao d&#7889;c t&#7915; 1.5 tri&#7879;u USD/ng&agrave;y v&agrave;o 21/11/2023 xu&#7889;ng c&ograve;n 150,000 USD/ng&agrave;y trong th&aacute;ng 12/2023. &#272;&acirc;y l&agrave; m&#7913;c gi&#7843;m t&#7899;i m&#432;&#7901;i l&#7847;n.
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/ljy-lPq6aJg1W3H4sE_t04V8438=/smart/419751ac8fad486fabc7ad0d8b37c7d6" alt="" class="wp-image-786932">Doanh thu h&agrave;ng ng&agrave;y c&#7911;a Lighter. Ngu&#7891;n: <a href="https://defillama.com/protocol/lighter?revenue=true&amp;fees=false" target="_blank" rel="noreferrer noopener nofollow">DefiLlama</a>

D&#7919; li&#7879;u l&#7883;ch s&#7917; c&#361;ng cho th&#7845;y vi&#7879;c khuy&#7871;n kh&iacute;ch nh&#7853;n airdrop th&#432;&#7901;ng khi&#7871;n kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch t&#259;ng m&#7841;nh, t&#7915; &#273;&oacute; doanh thu t&#7841;m th&#7901;i t&#259;ng l&ecirc;n. Tuy nhi&ecirc;n, &#273;&#7875; ph&aacute;t tri&#7875;n b&#7873;n v&#7919;ng l&acirc;u d&agrave;i, Lighter c&#7847;n ch&#7913;ng minh &#273;&#432;&#7907;c l&#7907;i th&#7871; c&#7841;nh tranh r&otilde; r&#7879;t so v&#7899;i c&aacute;c &#273;&#7889;i th&#7911;. D&#7921; &aacute;n c&#361;ng c&#7847;n duy tr&igrave; s&#7913;c ch&#7889;ng ch&#7883;u khi th&#7883; tr&#432;&#7901;ng chung bi&#7871;n &#273;&#7897;ng.