Justin Sun: Still holding all purchased LIT, long-term bullish on Lighter
BlockBeats News, March 6, Justin Sun stated in a post that we still hold all the LIT we have purchased and remain long-term bullish on Lighter. We are currently rebalancing the wallet and will soon redeposit into the Lighter LLP platform.
Previously, on January 1, out of the approximately $200 million Justin Sun deposited into the Lighter LLP platform, about $38 million has been withdrawn, and around $33 million was used to purchase 13.25 million LIT tokens. The spot account balance still has about $5.5 million remaining. This LIT holding accounts for approximately 1.33% of the total token supply and 5.32% of the circulating supply.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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IEA supports accelerating the release of about 100 million barrels of established reserves with priority allocated to diesel
The International Energy Agency (IEA) member governments announced at a meeting on Wednesday their support for accelerating the implementation of the oil reserve release plan announced during March's collective action, aiming to complete the full release as soon as possible. Given the current tight supply in the diesel market, member countries also supported the prioritization of diesel reserves where conditions permit. So far, IEA member countries have released around 325 millions barrels of oil based on the March collective action, with some releasing amounts exceeding their previous commitments. The IEA clarified that if all the oil reserves pledged in March but not yet released are fully delivered, approximately 100 millions barrels would enter the market. This means that the recently discussed release of about 100 millions barrels mainly refers to the acceleration of the previously promised releases in March, rather than an additional emergency plan for 100 millions barrels. Currently, IEA member countries still hold large government-controlled emergency oil reserves, totaling around 1.1 billions barrels, including more than 200 millions barrels of diesel. IEA stated that if market conditions require, they are prepared to release further reserves to the market.
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