Lighter crypto dips 11% – Will $2.2M buybacks spark LIT’s rebound?

Lighter [LIT], the native token of the decentralized perpetual exchange, has continued to decline in the early hours of the 24th of October, falling roughly 11% as of writing. The decline comes at a stage where traders in the market, despite the price drop, are positioning bullishly in the spot and perpetual markets. Lighter’s buyback program is setting the asset up for a further rally in the near term. LIT decline drives liquidations Selling pressure in the perpetual market has driven LIT’s decline over the past day.