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LINEA's been taking some serious hits lately. We're looking at a 2.26% drop in the last day, but zoom out to 30 days and it's down a brutal 35.6%. What's driving this bloodbath?
First up: token unlocks. December 10th saw 6.76% of the supply hit the market—that's $10.76 million worth of selling pressure flooding in all at once. Classic case of too many tokens chasing too few buyers.
Then there's the airdrop situation. Everyone scrambled to claim and dump before the December 9th deadline, which basically sucked all the short-term liquidity out of the room. When you've got waves of farmers racing to the exit, price action gets ugly fast.
And let's not forget the broader macro headwinds dragging down the entire crypto space right now. LINEA's just caught in the crossfire of a wider market cooldown.