LINEA (Linea) fell 28.67% in the last 24 hours.

Gate News Bot news, September 11, according to CoinMarketCap, as of the time of writing, LINEA (Linea) is currently priced at $0.02, having fallen 28.67% in the last 24 hours, with a high of $1.17 and a low of $0.02. The 24-hour volume reached $654 million. The current market capitalization is approximately $354 million, a decrease of about $142 million compared to yesterday.

Important news about LINEA recently:

1️⃣ Large-scale token airdrop triggers selling pressure LINEA conducted a total airdrop of approximately 9.36 billion tokens, involving 749,663 addresses. Among them, 208 addresses received over 1 million tokens, with the highest amount reaching 137 million tokens. Such a large-scale token release may trigger some users to sell off, putting pressure on short-term prices.

2️⃣ Liquidity Incentive Program Enhancement LINEA announced an additional 12 million LINEA rewards for liquidity incentives this week, aimed at the ETH/LINEA trading pair. A token incentive plan of 160 million tokens was previously announced. This measure aims to enhance on-chain liquidity, but may exacerbate token supply in the short term.

3️⃣ Concerns Arise Over Mainnet Performance Issues The Linea mainnet has encountered a decline in sequencer performance, and maintenance of the block explorer has led to delays in data updates. These technical issues may affect user confidence and become one of the catalysts for the price fall.

From a technical perspective, the price of LINEA has fallen sharply from an opening of $0.04582 to $0.02, breaking through multiple support levels, indicating significant short-term selling pressure. On the fundamental side, although the incentive program continues to be strengthened, issues with the mainnet's performance still need to be closely monitored.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.