LIT Buyback Program Spikes Price Past $3 Amid Accumulation

The cryptocurrency LIT has surged past $3 in value after its buyback program was launched on January 6. The move fulfilled commitments made by the Lighter team during the token's launch in December, raising questions about whether momentum can be sustained.

The Lighter team announced the buyback program through social media, sharing a direct link to its treasury wallet. The disclosed treasury account held approximately 180,733 LIT, valued at $564,609 at the time of the announcement.

The Chaikin Money Flow indicator shows strengthening inflows during the latest rally, suggesting accumulation rather than speculation. This is in contrast to January 1, when LIT formed a bearish divergence as price rose while outflows increased, leading to a pullback the following day.