$LAYER Everyone is asking why did Layer drop?

Answer : The price of LAYER dropped today, likely because of anticipation for the major token unlock happening on May 11. Around 27 million tokens (13% of total supply) will be released, which often causes sell-offs. A whale started selling and shorting LAYER in advance, which contributed to the price drop today. The market was already in an overbought condition, and with traders taking profits, the drop became sharper. The broader market’s subdued movement also added to the pressure.