Recently launched Lighter Coin (LIT) is seeing an upward trend today, trading around the $3.00 mark after reaching an intraday high of $3.16. This movement coincides with a 24-hour trading volume of $36.31 million, up more than 80%. LIT is currently the top gainer among the top 100 coins by market capitalization, along with Sui (SUI), Render (RENDER), IOTA (IOTA), and XRP (XRP), indicating a broader risk appetite.
Today’s upside in Lighter crypto price is primarily tied to the buyback narrative. Reports suggest that Lighter’s treasury address held 180,588 LIT ($548,987) on January 5, consistent with the protocol’s tokenomics plan to allocate 50% of revenue to buybacks and growth.
Although the team has not confirmed this, the accumulation has prompted market participants to price in continued buybacks. This matters for price because buybacks reduce circulating supply and introduce persistent bid pressure.
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The second immediate driver is new exchange accessibility. LIT was listed on KuCoin on January 1 and BingX on January 5. Shortly after, volume accelerated. New listings typically attract retail traders and arbitrage activity; this dynamic is visible in today’s rising volume and price.
Bitcoin price is up as well. It gained 1.40% in the past 24 hours to $93,721, in line with its 7-day rise of 7.34%. It briefly reached $94,700 on Jan 5, a level not seen since early December, before easing back toward $93,600.
When BTC trends higher, traders often move some profits into large-caps and mid-caps afterward, so broader market strength tends to spill over into names like Lighter (LIT).
In the chart above, the Bollinger Bands show price moving from a tight range into a clear breakout. Price pushed through the upper band during the rally and is still trading in the upper half of the band range, with the bands remaining wide.
The 9-period SMA near $3.05 is acting as support on dips, while the upper band near $3.15 stopped the latest push higher. The last notable intraday low is around $2.64, which stands out as near-term support.
On the momentum side, the 15-minute RSI is sitting between 45 and 47. That suggests the market is cooling off after the earlier spike without breaking the trend. It reflects a pause, not a reversal.
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