#layer

The recent decline in the price of Solayer (LAYER) can be attributed to several key factors:

1- Post-Airdrop Selling Pressure: Following the Genesis airdrop, many recipients sold their tokens,

2- Market-Wide Downturn: The broader cryptocurrency market has experienced a downturn, with sectors like Layer 1, DeFi, and Layer 2 witnessing declines exceeding 9%.

3- Negative Funding Rates: On Binance, the perpetual contract for LAYER has a negative funding rate of -2%, indicating a bearish sentiment among traders.

These factors combined have contributed to the current downward trend in LAYER's price.