LIGHT (Bitlight) Up 8.32% in 24 Hours

Gate News Bot news, on October 9th, according to CoinMarketCap data, as of the time of this report, LIGHT (Bitlight) is currently priced at 0.94 USD, with a pump of 8.32% in the last 24 hours, reaching a high of 1.15 USD and a low of 0.79 USD. The current market capitalization is approximately 40.3 million USD, an increase of 3.1 million USD compared to yesterday.

BitlightLabs is dedicated to catalyzing the potential of the Bitcoin Lightning Network ecosystem and promoting the development and widespread application of the RGB-Lightning field. The project aims to establish a transaction-centered infrastructure for the Lightning Network and RGB protocol, fully advancing the evolution of the Lightning Network and the Bitcoin ecosystem. BitlightLabs has also developed Bitlight Wallet, the first Bitcoin wallet that unifies RGB and the Lightning Network, featuring uncompromised security. As a member of the LNP/BP Association and a key contributor to the RGB protocol, BitlightLabs is committed to pioneering native BitcoinFi by developing the native smart contract infrastructure for Bitcoin and the Lightning Network.

Important recent news about LIGHT:

1️⃣ Light Protocol launches ZK compression technology to support Solana application scalability Light Protocol collaborates with Helius Labs to introduce ZK (Zero-Knowledge) compression technology for Solana applications. This innovation aims to enhance the scalability of the Solana network, potentially significantly improving transaction processing capabilities and user experience. The application of this technology may attract more developers and users to pay attention to the Light Protocol ecosystem.

2️⃣ The combination of quantum computing and AI may drive innovation in cryptocurrency technology Scientists are exploring the possibility of combining artificial intelligence, quantum computing, and photonic chip technology. This interdisciplinary research could bring significant breakthroughs to cryptocurrency and blockchain technology, potentially impacting the future development directions of several projects, including LIGHT.

3️⃣ SEC's attitude towards liquid staking has softened, and institutional adoption may increase The U.S. Securities and Exchange Commission (SEC) has shown signs of a softened regulatory stance towards the liquidity staking of cryptocurrencies, which may drive institutional investors to adopt liquidity staking services more broadly. As an important component of the Bitcoin ecosystem, the LIGHT project could benefit from this trend, attracting more institutional-level users.

From a technical perspective, LIGHT's 24-hour rise is significant, showing a pullback after breaking the 1 dollar mark, indicating that the market maintains a high level of attention towards this project. On the fundamental side, LIGHT continues to delve deeply into the Bitcoin Lightning Network and RGB protocol fields, and the expansion of its ecosystem may be an important factor supporting the recent price rise.

This message is not intended as investment advice; investors should be aware of market volatility risks.