- LIT jumped about 37% from its Jan. 1 low after buybacks began.
- The protocol said it is using revenues to repurchase tokens on market conditions.
- The protocol’s treasury account holds more than 181,000 LIT, roughly $550,000.
- Airdropped on Dec. 30, 250 million LIT (25% of supply) serves as governance and can be staked for premium features.
- Several large investors have bought millions in LIT, including a wallet linked to Justin Sun holding about 13.2 million LIT (~$40 million), and other whale wallets buying in recently.
Lighter’s newly launched LIT token rose about 37% from its all-time low on Jan. 1 after the decentralised perpetual futures exchange began a planned buyback program using platform revenues. The token launched on Dec. 30 in a 250 million LIT airdrop, equal to 25% of total supply, distributed to early users.
The protocol said it would start using revenues from its exchange to purchase LIT on the open market at a rate set by market conditions. The protocol’s treasury account, where fees collect and buybacks occur, now holds over 181,000 LIT, worth about $550,000.
After launch, many airdrop recipients sold tokens and LIT hit a low of $2.33. Renewed interest, the buyback announcement and improving market conditions helped push the token higher; Bitcoin has climbed more than 6% to nearly $94,000 since the start of the year.
Lighter competes with platforms such as Hyperliquid, Aster and edgeX, offering high-speed perpetual futures with decentralised custody. The LIT token functions as a governance token and may be staked to unlock premium exchange features, while buybacks aim to support token value.
On-chain records show several large holders have accumulated LIT over the past week. One wallet, widely believed to belong to Justin Sun, holds about 13.2 million LIT, worth roughly $40 million at current prices. Other whale accounts have also bought millions of dollars of LIT recently.
Some investors view these purchases as bullish, while others warn that concentrated holdings by single entities could increase future price volatility if those tokens are sold.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Bitcoin Core v30 bug can erase BDB wallets; binaries pulled.
- Crypto Market Surges $250B as Bitcoin Tops $92K, Sui Rallies
- Jefferies Raises Nvidia FY2026 Target to $240, Sees 28% Gain
- Schiff Urges Sell of Venezuela-Inspired BTC Rally, Buy Gold.
- Institutions Buy 76% More BTC Than Miners; Bull Signal Back.
