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LIT Drops More Than 14% in Minutes, Triggering Broad Liquidations
The sharp decline set off a large liquidation chain. Robinhood is moving toward offering perpetual futures in the United States through Bitstamp.
LIT fell more than 14% within minutes on Sept. 29, triggering a broad wave of liquidations and putting the token at the center of a sharp crypto-market move.
The decline led to a large liquidation chain as traders’ positions were closed during the rapid drop.
Separately, Robinhood is moving toward offering perpetual futures in the United States through Bitstamp. The move would bring the derivatives product to the U.S. market through Robinhood’s integration with the crypto exchange.
The LIT drop and the Robinhood initiative were disclosed in the same market update.
