Lighter token bounces 37% as protocol begins buybacks and whales buy in

Group 1 - Lighter's newly-launched LIT token has rebounded approximately 37% from its all-time low of $2.33, following the initiation of a buyback strategy funded by exchange revenues [1][2][3] - The LIT token was launched on December 30, with 250 million tokens airdropped to early users, representing 25% of the total supply, and serves as a governance token for protocol changes and staking [2] - The Lighter treasury currently holds over 181,000 LIT tokens valued at around $550,000, which are used for buybacks [1] Group 2 - The recent price rebound of LIT is attributed to positive market conditions, including Bitcoin's increase of over 6% to nearly $94,000 [3] - Lighter is part of a growing sector of perpetual futures exchanges that combine the advantages of centralized exchanges with the transparency of decentralized finance (DeFi) [4] - Wealthy investors, or whales, have been purchasing significant amounts of LIT, with one wallet believed to belong to Tron founder Justin Sun holding approximately 13.2 million LIT, valued at nearly $40 million [5]