Lighter (LIT) Struggles to Break $2.70 Even as Whales Add $10M in Tokens

Lighter (LIT) has spent the past six weeks trading in a tight band, and the market still can't decisively clear the $2.70 ceiling. Despite steady accumulation from both large and smaller holders, LIT was down 6% over the last 24 hours at the time of writing. The $2.70 supply zone continues to cap upside attempts. Arkham data shows an Ethereum OG wallet with a $65 million portfolio returning to LIT buying after several quiet days. The wallet has been purchasing thousands of tokens using USDS via Cow Protocol. Total holdings now stand at 4.277 million LIT, valued at roughly $10 million, up from 1.70 million tokens last month. The position increased by 8% in the past 24 hours following the latest purchase. The same wallet reportedly holds $49.95 million in USDS reserves, suggesting the buying was done into market strength. On the project side, the Lighter team also moved tokens, a step often associated with liquidity management or distribution planning. Onchain Lens reported that a team-linked wallet transferred 1.87 million LIT (about $4.57 million) to a newly created wallet. The move was described as internal, and it did not appear to create immediate sell pressure. Retail participation has also expanded. Token Terminal data indicates the holder count rose from 177 to 6.50K year-to-date, a 36x increase. Technically, LIT remains boxed between $2.00 and $2.70. The chart places the premium zone above $2.30 and the discount area below that level. Sellers in the $2.30'2.70 band have kept price mostly in the discount region for about a month, with repeated rejections when LIT trades above $2.30. At press time, the Money Flow Index (MFI) had dropped to 43 from 74, while the MACD remained in negative territory, signaling bearish control. If positioning continues to build, bulls may be able to absorb supply around $2.70 and open the door to levels above $3. For that scenario to strengthen, trading would need to spend more time consolidating in the premium zone rather than below $2.30. LIT is still 43% below its all-time high of $4.04. Summary: An Ethereum OG wallet has lifted its LIT stake to about $10 million within a month, while the Lighter team executed an internal 1.87 million-token transfer. Price continues to face a key test in the $2.30'2.70 supply zone, though ongoing accumulation could improve the odds of a breakout.