Lighter Burns 2.45 Million LIT From Third-Quarter Buybacks
Photo: TokenPost
Lighter (LIT) burned 2,452,017 tokens acquired through programmatic buybacks through Sept. 30, reducing the available supply without confirming whether demand can absorb future selling pressure. The exchange announced that it had permanently destroyed the tokens accumulated through the end of the third quarter. The confirmed figure is the token amount; Lighter did not disclose the dollar value of the burn or the percentage of circulating supply removed. The 2,452,017 tokens were valued at an estimated $9.50 million when the market estimate was published. That estimate does not establish how much Lighter spent on the buybacks.
Source: TokenPost
