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<p>So Lighter_xyz' 30D fees are $5.89M and its 90D fees are up 69%

Fees over the last 180D are still down 49% and it holds about 15.3% of 30D perp volume across the 10 perp protocols. HL and majority of the top 10 saw fees fall over 30D, while Lighter's grew and also $LIT's 90D return roughly matches $HYPE's, so it has not outrun its category leader.

I tracked buybacks reached $3.98M over 30D, up 53% from $2.60M in the previous 30D. Fees grew about 10% over those same windows and that gives me a stronger reason to watch.</p>

So Lighter_xyz' 30D fees are $5.89M and its 90D fees are up 69%
Fees over the last 180D are still down 49% and it holds about 15.3% of 30D perp volume across the 10 perp protocols. HL and majority of the top 10 saw fees fall over 30D, while Lighter's grew and also $LIT's 90D return roughly matches $HYPE's, so it has not outrun its category leader.
I tracked buybacks reached $3.98M over 30D, up 53% from $2.60M in the previous 30D. Fees grew about 10% over those same windows and that gives me a st

So Lighter_xyz' 30D fees are $5.89M and its 90D fees are up 69% Fees over the last 180D are still down 49% and it holds about 15.3% of 30D perp volume across the 10 perp protocols. HL and majority of the top 10 saw fees fall over 30D, while Lighter's grew and also $LIT's 90D return roughly matches $HYPE's, so it has not outrun its category leader. I tracked buybacks reached $3.98M over 30D, up 53% from $2.60M in the previous 30D. Fees grew about 10% over those same windows and that gives me a stronger reason to watch.

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