On January 27, news reports indicate that the Lighter ecosystem token LIT quickly found buying support after touching a low of $1.53, with the price rebounding and once reaching as high as $1.85. It is currently stable around $1.81, representing an intraday increase of approximately 16%. Accompanying this is a roughly 16% increase in trading volume, indicating a significant rise in market activity.
The changes in the derivatives market are particularly crucial. According to CoinGlass statistics, LIT’s open interest grew by 16% in 24 hours to approximately $146 million, with trading volume surging 28% to $178 million. Net futures inflow expanded to about $4.08 million, reflecting accelerated entry by bullish traders. The long-short ratio also rose above 1, suggesting that bullish momentum is slightly dominant and market sentiment is gradually turning positive.
On-chain activity shows that whale movements are a key driver of the price. Data from Winngamer indicates that two large holders recently locked around $2.32 million worth of LIT into Lighter’s staking pools, with one transaction exceeding $2 million. Staking these tokens temporarily removes them from circulation, demonstrating confidence in the project’s mid-term prospects and objectively reducing the tradable supply in the market.
Meanwhile, the Lighter team continues to push forward with its token buyback plan. Cryptolycus disclosed that in less than a month, the team has repurchased over 2.4 million LIT on the open market, mainly funded by platform fee income. This mechanism, under stable demand conditions, can amplify supply-demand gaps and thus support the price.
Technical indicators are also beginning to show signs of change. After successfully defending the $1.5 level, the short-term moving average has crossed above the longer-term moving average, indicating a recovery in momentum. Although the Relative Strength Index (RSI) still hovers below 50, there are signs of an upward turn, suggesting buyers are gradually regaining control.
From key price levels, if LIT can hold above $1.7 and continue to increase volume, $2.0 will become the next critical resistance. If it fails to break through, around $1.49 remains a defensive line that bulls need to protect. Currently, the convergence of futures funds, whale staking, and buyback activities is causing subtle changes in Lighter’s price structure.
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