Lighter buybacks reach 7.48M LIT (3% of supply) as price tests $1 support zone

Lighter's LIT token has traded inside a descending channel after failing to stay above $1.50, hovering near $1.10 with weekly losses of about 23%. The team has repurchased 7.48 million LIT, or roughly 3% of circulating supply, even as revenue drops from peaks near $1.5 million to around $100k–$122k and derivatives data signal strong selling pressure that could threaten the $1 support unless price reclaims levels above $1.30.