LIT crypto: Is Lighter’s $9.5M token burn enough to counter selling pressure?
Photo: AMBCrypto
Lighter [LIT] gained more than 10% over the past 24 hours as the crypto market recovered from a brief correction. Its Market Cap had fallen below $1 billion but moved closer to reclaiming that valuation. The rebound came alongside token burns, growing trading activity, and renewed market interest. But could these developments bring LIT’s correction to an end? Why is LIT price rising? Lighter’s buyback and burn mechanism offered one potential driver. The platform burned over 2.45 million LIT tokens, valued at $9.50 million at press time. That reduced the circulating supply by 0.98%.
Source: AMBCrypto
