$LAYER took a hit today, and hereâs why: A massive token unlock is coming on May 11 â around 27 million tokens (13% of the total supply) will hit the market. That kind of supply spike often leads to sell-offs.
One big whale saw it coming and started selling and shorting early, triggering the decline. The market was already overbought, so when traders began taking profits, the drop got sharper. Add in the sluggish overall market, and youâve got the perfect storm for a pullback.
