$LINEA
Held back for 3 years to create a big one
The highest FDV at opening is 5.8 billion
This is considered the top price level for L2
After all, arb is 4.89 billion FDV, op is 2.8 billion FDV
Line's initial circulation is 22%, but airdrop accounts for 9%
The selling pressure from this airdrop share is still too large
As I mentioned yesterday
Those who received the tokens will definitely sell
After all, others spent real money to get those tokens, you wouldn't think airdrops are completely free, right?
For this Linea, those who received the airdrop probably spent tens of millions on gas, and getting the tokens means they must recoup their costs. In this situation where a drop is clearly indicated, contract hedging is the only option.
I can only say that L2 has indeed become lonely, and the project team cannot possibly put money in to support this bottom.
This is the reason for Linea's price collapse happening so quickly
