The price of Solayer ($LAYER ) has risen in the last 24 hours. Let's first look at the price data. In real time, it can be seen that the increase was 2.28% over the day — this is not a very large jump, but considering that the price has fallen in the last 7 and 30 days (-12.31% and -24.58% respectively), this small rise may be significant.
In news from Binance on August 16 and 19, technical achievements of Solayer are noted, such as the goal to reach 1 million transactions per second (TPS) and the use of hardware acceleration for the blockchain. These articles were published just a few days ago (before August 20), so they may still influence market sentiment. Technical analysis shows that the Relative Strength Index (RSI) is below 40, which often indicates that an asset is oversold and may herald a short-term price rebound.
At the beginning of August, there was news about the unlocking of tokens $LAYER worth $17.33 million. Such events usually put pressure on the price as the supply of tokens in the market increases. However, if the market was able to 'digest' this amount without a significant price drop, then the situation has stabilized. The current growth may be a reaction to the end of this unlocking period, especially if the project demonstrates positive technical news.
It is also worth considering the overall market dynamics. In the last 24 hours, the total market capitalization of the cryptocurrency market has increased by 1.95%. The growth of Solayer by 2.28% slightly exceeds the average market indicator, indicating the presence of coin-specific factors affecting the price.
The main reasons for the recent price increase of Solayer (LAYER) can be named:
Positive news about the project's technological achievements;
Active participation of the community and developers;
Possible rebound after being oversold (low RSI);
Stabilization after a major token unlock.
At the same time, it is important to monitor future events, such as new token unlocks or technology adoption metrics, that may affect the further price dynamics.
