Lighter's LIT catches a 12.5% bid as SpaceX IPO hype sends perp DEX notional volume to $14.84B 🚀

Lighter's LIT token gained 12.5% over the past 24 hours as perpetual DEX trading activity spiked following the launch of SpaceX's Initial Public Offering, a fundraising the company has targeted at $75 billion. The token traded higher as platforms including AsterDEX and Lighter registered a surge in IPO-related perpetual trading.

On Lighter, notional trading volume rose 73.7% week-over-week to $14.84 billion, compared with $8.54 billion the prior week. The 30-day figure climbed 14.5% to $45.7 billion, while LIT's own token trading volume increased 120% over the past month to $1.80 billion. Weekly token trading volume nearly doubled from $377 million to $657.7 million.

The increase in activity translated into growth in users and fees. Token holders rose 32.5% to 4,500 as of press time, and fee revenue climbed 34% to $3.80 million. Even so, Lighter's price-to-earnings ratio of 6.5x trails Hyperliquid's 13.3x, with each HYPE token generating roughly twice the earnings of LIT.

The protocol directs 100% of its revenue to open-market buybacks, recently purchasing about 90,000 LIT tokens and bringing monthly buybacks to roughly 2 million. The treasury now holds more than 14 million tokens after acquiring 9.56 million this quarter, creating structural demand as revenue continues to expand.

On the charts, LIT has bounced off a slanted support trendline drawn from a low of $0.90 to $1.50 in place since mid-May. The LIT/USDT perpetual pair on Binance is showing buying volume of 1.28 million tokens on the Cumulative Volume Delta, with momentum rising above 0.166 from negative territory. The token faces a supply zone between $1.60 and $1.70, where multiple wicks have preceded declines toward $1.38, a level aligning with the prevailing trendline.