Lighter’s LIT token rose as much as 28% in 24 hours on Aug. 20 to about $2.95, making it the top-100 cryptocurrency’s biggest gainer, according to CoinGecko, and later gained more than 21% around the Aug. 22 meeting of the U.S. Commodity Futures Trading Commission’s Innovation Advisory Committee. An earlier market snapshot recorded a 24.37% increase to $2.85, a $712.61 million market capitalization and $84.92 million in 24-hour volume, up 184.25%; the later report put LIT’s market capitalization at $797 million. The rally followed a breakout above a roughly $2.20-$2.50 consolidation range, stronger spot activity, whale accumulation, Robinhood Wallet integration, an 11 million-LIT community allocation and Paribu’s Aug. 19 listing. Speculation intensified because Lighter founder and CEO Vladimir Novakovski serves on the CFTC committee, which held its first meeting on Aug. 22 under CFTC Chairman Michael Selig and included crypto founders and executives. Lighter has not announced plans to offer U.S. perpetual futures, and the CFTC has not approved such a move. Other assets associated with committee participants also rose, including XRP, CRO, UNI, LINK, OKB and SOL, while COIN, BTGO and HOOD closed higher. Lighter’s fundamentals included about $33 billion in recent 30-day perpetual volume, roughly $2.26 million in fees and 15.6 million LIT burned, according to Mihawk Research.