Is it a rise or a trap? Solayer surges against the tide...
Solayer (LAYER) outperforms Bitcoin and Ethereum with a 12% increase
Solayer led the market with a 12% increase, outperforming Bitcoin, Ethereum, and other major altcoins.
Exchanges saw outflows of $22.5 million from LAYER over 24 hours, suggesting potential accumulation.
Solayer (LAYER) is making headlines in the cryptocurrency space with its impressive performance despite the ongoing market downturn.
On May 4th, while major cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH] struggled to gain momentum, LAYER's value surged by a remarkable 12%, leading the cryptocurrency market.
Since April 2025, the currency has seen a notable increase of 115%, demonstrating a sustained upward momentum in LAYER, boosting investor enthusiasm.
LAYER price rises as trading volume increases
At the time of publication, the trading price of LAYER was close to $3.25, up 12% over the day. Even more impressive is the 135% increase in its 24-hour trading volume compared to the previous session.
This increase in the currency's price, along with rising trading volume, indicates strong bullish momentum.
While LAYER rose, most large market cap assets declined.
According to CoinMarketCap, Bitcoin (BTC) price fell by 0.78%, Ethereum (ETH) by 0.25%, Solana (SOL) by 1.56%, and Ripple (XRP) by 0.43%.
Negative market sentiment
Source: CoinMarketCap
Strong positive indicators on the supply chain
This upward trend in assets continues to attract traders and investors, as reported by supply chain analytics firm CoinGlass.
Spot Inflow/Outflow data revealed that despite the continued upward momentum in Solayer's price, trading platforms around the world have seen ongoing outflows, indicating potential accumulation.
CoinGlass data showed that $22.5 million worth of these tokens has exited centralized trading platforms in the last 24 hours.
Instant inflows/outflows for LAYER
Source: CoinGlass
These outflows, given the current bearish market atmosphere, indicate a bullish signal, potentially leading to increased buying pressure and a rise in the asset's price.
Traders trust in buy positions.
Furthermore, traders in the derivatives market leaned towards a bullish direction.
As of the writing of this report, the buy/sell ratio for Solayer stood at 1.22, indicating a strong bullish trend among traders. This metric revealed that 55.04% of traders were betting on buy positions, while 44.96% were betting on sell positions.
SOLAYER buy/sell positions ratio chart
Source: CoinGlass
As of publication, the key liquidation levels were $3.102 (support level) and $3.35 (resistance level), indicating areas of high leverage and potential volatility.
Solayer price movement and key levels
According to technical analysis from BinanceCrypto, LAYER appears to maintain its upward momentum thanks to its bullish price action.
On the four-hour time frame, the asset recently broke through a flag and pole pattern, starting a sustained rise to reach its all-time high.
Solayer (LAYER) price movement
Source: TradingView
However, if the current momentum continues, LAYER could rise another 45% in the coming days based on previous breakout behavior and historical bullish extensions.
Considering price movement and on-chain metrics, there is a significant chance that the drop could be large and unexpected.