Solayer (LAYER) is currently facing significant pressure following a sudden 45% drop that erased weeks of positive momentum. Despite previously surging by 460% since February, the token is now trading below $1.70 as traders struggle to comprehend the cause of the collapse. The recent crash resulted in a loss of nearly $350 million in market capitalization for the altcoin. With increased volatility and a long/short ratio of 1.45, the market is divided between those anticipating a recovery and those preparing for further declines. Despite its strong fundamentals as a hardware-accelerated blockchain, Solayer has experienced a sharp decline, leaving the community searching for answers. The upcoming major token unlock on May 11, releasing 26.5 million LAYER tokens worth approximately $51 million, could potentially exacerbate selling pressure if market sentiment does not improve. The uncertainty surrounding LAYER's future is reflected in the fluctuating long/short ratio and the ongoing search for clarity among traders and investors. Read more AI-generated news on: https://app.chaingpt.org/news