Lighter Begins Buyback As Promised, This Is How LIT Price Reacted
Lighter (LIT) initiated its promised buyback program, coinciding with a sharp price rally supported by positive technical indicators.Summary
The Lighter (LIT) team started its promised buyback program on January 6, publicly sharing the treasury wallet holding approximately 180,733 LIT, valued at $564,609 at the time. This action aligns with prior commitments to allocate revenues between growth and buybacks to maximize long-term value. The price of LIT has surged sharply, supported by improving risk appetite in the broader crypto market and internal developments. Technical analysis shows strengthening capital inflows, with the Chaikin Money Flow (CMF) indicator indicating accumulation, contrasting with earlier bearish divergence. Furthermore, the Money Flow Index (MFI) suggests sustained buying pressure without reaching overbought levels, supporting the rally's stability. At the time of writing, LIT was trading near $3.11, attempting to break its descending structure, with a key breakout confirmation level set at $3.19.
(Source：BeInCrypto)