The decline in Layer (LAYER) coin on Binance is primarily attributed to several factors. Following its launch on February 11, 2025, LAYER experienced a surge in price, reaching an all-time high of $1.42 on February 12. This spike was largely driven by strong initial interest and the Genesis Drop airdrop, which distributed 12% of the total supply to early adopters. However, the airdrop also introduced significant selling pressure as recipients opted to cash out their free tokens, leading to a sharp decline in price to $0.85 within days—a nearly 40% decrease from its peak. Additionally, broader market volatility and profit-taking by early investors have contributed to the downward trend

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