LIT, the native token of the decentralized perpetual exchange Lighter, fell roughly 11% on October 24. Net outflows of $2.4 million from the perpetual market resulted in $999,000 in long liquidations, compared with $87,000 for short positions. At the same time, traders spent about $521,009 buying LIT in the spot market, while the positive 0.0055% funding rate indicated that long positions were dominant. Lighter has already spent approximately $2.2 million buying back its own token, reducing supply and potentially supporting a rebound, provided market sentiment improves and capital inflows increase.
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