LIT Surges 90% Ahead of Binance-Backed Token Swap
Litentry (LIT) surged over 90% in the past 24 hours, currently trading at $1.064. This significant increase comes amidst Binance's announcement of its support for the LIT token swap and rebranding to Heimai (HEI).
Binance will halt trading and remove all existing LIT spot trading pairs on February 10, 2025, at 11:00 (UTC+8), automatically canceling all orders. The HEI/BTC and HEI/USDT spot trading will commence on February 13, 2025, at 16:00 (UTC+8). The circulating supply of HEI will increase from 66 million to 100 million over a period of 20 months.
The surge in LIT's price can be attributed to the anticipation of the token swap and rebranding, as well as the potential increase in demand for HEI. As the swap process unfolds, investors may be attracted to the new token, leading to further price movements.
It is essential to note that the cryptocurrency market is highly volatile, and past performance is not indicative of future results. Investors should exercise caution and conduct thorough research before making any investment decisions.