The post Why Lighter LIT Token Price Jumped 13% Today? appeared first on Coinpedia Fintech News
Lighter, a decentralized perpetuals exchange built as a zero-knowledge rollup on Ethereum, has seen its native token LIT price jump nearly 13% today.
This sudden rally came right after the Lighter team announced that all fees generated by its core DEX product and future services would be used for LIT tokens.
LIT Protocol Buybacks Plan Drive Price Up
The biggest trigger behind today’s LIT rally is Lighter’s protocol fee buyback program. On January 6, on-chain data showed Lighter’s treasury using protocol fees to buy back LIT tokens directly from the market. Community members tracked transactions where the treasury spent over $10,000 in USDC to purchase roughly 180,700 LIT tokens.
In addition, the Lighter Assistance Fund also bought 165,790 LIT tokens over a short period, at an average price close to $3.05.
These purchases are fully transparent and visible on-chain th
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