Solayer (LAYER) experienced a sudden 45% drop, which erased several weeks of bullish momentum. The token had risen by 460% since February, and is now trading below $1.70.

However, these daily unlocks are only worth $219,000 - far from justifying the over $250 million loss in market value. More concerning is the significant unlock coming on May 11, when 26.5 million LAYER (worth approximately $51 million) will be released.

#This may intensify selling pressure and could further depress prices.