Gate News Announcement: On March 8th, the Lighter Protocol officially disclosed that since the TGE (Token Generation Event), a total of 7.48 million LIT tokens have been repurchased, accounting for approximately 3% of the current circulating supply. It is reported that the protocol's daily repurchase operations are automatically executed by a program.

Gate News bot message, a whale holding a $LIT (2x) short position is currently having a floating profit of $1.36M as $LIT is going down.

Sun Yuchen posted on social media that he remains optimistic about Lighter and mentioned rebalancing his wallet. On-chain data shows that he withdrew approximately 152 million USDC from Lighter LLP, accounting for about 17%-18% of the Lighter platform's balance.

Justin Sun stated that he will continue to hold all LIT tokens and is optimistic about its long-term performance. He is rebalancing his wallet and plans to redeposit on the Lighter LLP platform. Currently, approximately $38 million has been withdrawn and used to purchase 13.25 million LIT, accounting for 1.33% of the total token supply.