Lighter's Daily Buybacks Stabilize LIT Price Above $3.94

Lighter has implemented daily buybacks of its LIT token, which is currently trading above $3.94. This strategic move aims to stabilize the market performance of LIT and has potential implications for related assets, including Hyperliquid.

The involvement of Hyperliquid in this scenario may amplify a short squeeze, as suggested by recent social media reports. The news of Lighter's buybacks appears consistent with scenarios where Hyperliquid's perceived value could increase, although the reliability of the source remains a consideration.

Market pricing suggests a recalibration in expectations for Hyperliquid, with a current 58.5% probability of reaching $100 by the end of the year. This marks a decrease from 65% just 24 hours ago, indicating a reassessment of the likelihood among market participants.