LIT, the native token of Lighter, hit a new local high of $5.30, marking a gain of over 50% in just seven days. A whale withdrew 140,000 tokens from OKX and Bybit exchanges to stake them on Lighter, bringing their portfolio to 6.598 million LIT, worth $31.63 million. In total, over 110 million LIT were staked, representing 44.2% of the circulating supply, while the protocol bought back 17.50 million tokens since TGE. Open Interest crossed $1 billion and August monthly volume surpassed $39.5 billion, partly driven by Lighter’s integration on Robinhood Chain. However, the price retraced by 6% after hitting the new high, with sellers regaining control.
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