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Lighter, a DEX focused on perpetual (perps) trading, has been tapped to power Telegram’s native leveraged trading.
Wallet in Telegram said users on the privacy-focused messenger can now trade crypto, stocks, metals and oil with up to 50x leverage as of 2nd April.
The wallet has seen strong adoption with over 150 million registered users.
In P2P transfers and fiat on-ramps, about 25 million of these users are active; Telegram is a key crypto trading terminal. More than 1 billion users are there on the messenger itself.
Hence, the integration of Lighter could also increase trading volumes on the DEX too. Hence, this is the most and largest Lighter integration to date as it stands.
its rival Hyperliquid, which is a perps trading for Phantom, Rabby, MetaMask and others. The apps also provided fees from trades that were sent by Hyperliquid to promote their initial adoption of this fueled by it’s popularity as the app was sharing fees for its first use.
Could Lighter benefit from a similar traction?
Will the deal boost Lighter’s trading activity?
This collaboration is a time when the demand for perpetual trading has rocketed to its peak. At the market peak last October, perp volume was $350 billion and $25 billion in Open Interest (OI) at its total yearly perpm volume.
Source: DeFiLlama
Source: DeFiLlama
Despite the broader crypto rout in the past few months, perp volume still hovered around $150 billion.
Lighter’s trading activity has meanwhile been severely declining. And notably after the end of last December’s token debut by $LIT, which ended the farming period, ending the term for . As a consequence, traders who were looking for an airdrop fled elsewhere to find new markets.
In addition to this, lighter’s trade activities soared following December and plunged sharply after the end of December. However, this decline has lasted into Q1 2026 and there isn’t been any meaningful recovery in Q2 as the wider crypto market remains subdued.
In the past, weekly perps volumes have slipped from an average of $75B in November to about $8B (about $19bn) trading activity has declined by 89%.
Source: DeFiLlama
Source: DeFiLlama
The revenue of the protocol also declined as did the money from . From $4M to $325K a week, it dropped from an average of just shy of $4 million per week and 91% revenue crashed.
The short break in February helped activity and revenue, so it’s worth pointing out. At the very least, this fueled the purchase of $LIT, the protocol’s native token.
But if Telegram integration is doing better and revenue increases in April, the new 30% recovery rally could extend. In other words, a rejection at $1 and low activity would drag $LIT back to $0. Above, 78 or below.
Source: $LIT/USDT, TradingView
Final Summary
- Telegram integration has fueled
$LIT
’s recovery by 30% in early April.
- Lighter DEX’s revenue crashed 91%, but renewed trading activity from Telegram could help reverse it and boost
$LIT
buyback.
Source: $LIT/USDT, TradingView
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