🚨Why is the LAYER system collapsing? Here's the real reason! 🚨 Whale movements + token launches = price drop 📉
The currency $LAYER was hit hard today, and the reason is: The launch of a massive number of tokens on May 11 - about 27 million tokens (13% of the total supply) will hit the market. This kind of increase in supply often leads to widespread sell-offs.
LAYER $LAYER
A huge whale anticipated its approach, so it started selling and short-selling early, triggering the decline. The market was already overbought, so when traders began to take profits, the decline intensified. Add to that the general market slowdown, and you have the perfect storm for a downturn.
