Lighter's token LIT has continued its upward trend over the past two days, with a cumulative increase of 45%. In the past 24 hours alone, it has risen by more than 20%, while trading volume has increased by 87% during the same period, rising above $70 million, indicating a significant increase in market participation.
This surge is primarily driven by platform product integration, expanded trading scenarios, and a contraction in token supply. Lighter recently integrated with Tealstreet, a trading terminal that supports both centralized and decentralized exchanges, and also with Telegram's TON Wallet, expanding its user reach.
The launch of the new market has increased attention.
The platform saw a further increase in trading activity following the launch of the SpaceX pre-IPO perpetual market. This move echoes the recent surge in interest in tokenized stock trading among decentralized platforms, and also gives Lighter greater market exposure.
The original article also mentioned that Vitalik Buterin's remarks also drew market attention. However, the report did not disclose more specific details of his statement.
More than 500,000 LITs were destroyed this week.
In addition to product progress, Lighter's token mechanism is also tightening the circulating supply. This week, the protocol burned more than 500,000 LIT, worth more than $1 million according to the article, bringing the cumulative amount burned to more than $13 million.
According to reported data, Lighter's daily burning intensity once exceeded Hyperliquid's, with a burning rate nearly twice that of the latter. The platform used more than 70% of its daily revenue for burning, while 145 million LIT remained locked in liquidity pools, with nearly 57% of the circulating supply in a staked state.
- More than 500,000 LITs were destroyed this week.
- The total value of the destroyed items exceeded US$13 million.
- 24-hour trading volume exceeded $70 million
Whales leveraged their holdings to increase their stake
The increasing activity of on-chain accounts also fueled short-term speculation. Onchain Lens reported that a whale named Loracle opened a 3x leveraged position of nearly $1 million, holding approximately 898,000 LIT, and continued to increase its exposure afterward.
However, LIT has encountered resistance around $1.20. Overall, this surge is driven by a combination of factors, including platform business progress, supply contraction, and capital inflows.
