Crypto project Solayer experienced a sudden drop in the price of its native token by more than 40%. This happened right after it reached an all-time high, literally hours before that.
The native token of the project, , had more than $1 billion in volume for the last 24 hours. But why is it dropping? Is there something wrong, or just aggressive profit taking?
Crypto Coin LAYER Getting Destroyed
Recent market volatility left Solayer holders with open mouths. Right after the project hit an all-time high of $3.4, it went down like a stone in a lake. The last 3 months, it has been climbing nonstop since yesterday—classic elevator, as we would say.
Stairways up, elevator down
Classic $LAYER pic.twitter.com/YVFBwCVeky
— Livercoin (@Livercoin) May 6, 2025
DISCOVER: Best Meme Coin ICOs to Invest in May 2025
Solayer is built on Solana networks, and it is a prominent restaking protocol and hardware-accelerated blockchain. This means they are trying to offload to specialized hardware, which allows for better scalability, security, and overall effectiveness.
This is why projects like Solayer are important technologically for the future of crypto. But what made LAYER drop like this?
By the looks of it, no significant info suggests something bad is happening behind the scenes. Some suggest that this is happening because of the unlock that will occur on May 11, 2025.
Around 13% of the supply will be unlocked (~27 million tokens), which is definitely going to be something to behold.
$LAYER | @solayer_labs 📈
With over 50% lost in 2 days, the project is under massive criticism right now.
13% of $LAYER’s total supply (around 27M tokens) is scheduled to unlock this week which contributed to the sell pressure.
Just some market manipulation or something else?… pic.twitter.com/V3A0t8EWnK
— OCT Trades (@oct_trades) May 6, 2025
Maybe this is typical crypto volatility of a project that just hit an all-time high. Everybody is trying to short the top, and sometimes they succeed, just like now. The key difference between profit taking and some exploit or bad news is that it happens gradually over a longer period.
This suggests that, combined with the upcoming unlock and expected volatility of the upcoming FOMC on the whole crypto market, this was exaggerated. Overall, crypto sentiment around the project is very negative, accusing it of pumping and dumping, which is something that we have seen many times.
Surely, top holders taking huge profits also cause the project to suffer unimaginably. Not only that, but smaller holders also take the punch straight to their face.
$LAYER ( SOLAYER) – the scam exit happening in real-time.
Looks like the large supply holder is making a quiet exit today during Asia session, 5 days ahead of unlock.
-Built a massive short via perp, pushing funding down. –Slowly unwinding spot long.
the gig is up. pic.twitter.com/b5iGvZLik5
— onchainquant (@onchainquant) May 6, 2025
DISCOVER: Top Solana Meme Coins to Buy in May 2025
Another Solana First of Its Kind Mover
Being first at something or one of the frontiers of some technology is always a winner. Just like Solayer is battling with restaking and hardware-acceleration, Solaxy is improving Solana technology.
It is the first-ever layer 2 on Solana that improves the scalability, security, and user experience. We all know that in times of high volume and volatility, Solana often takes a hit. Solaxy’s scalability and off-chain execution are fixing this problem. Not only that, but it also helps with failed transactions and congestion.
Solaxy has a native token that will be on both the Solana and Ethereum blockchain, further increasing the visibility and having better liquidity.
The native token $SOLX is currently on presale with a price per coin of $0.001716. Everyone who participates and buys the token now gets the best deal that there will be.
Also, Solaxy has a staking program that additionally increases the rewards for the holders.
Right now, you can stake your coins for an amazing APY of 120%, which is one of the best on the market. Soon, there would be more than 10 billion coins in total staked … you know what I mean.
Overall, all this put together makes Solaxy one of the best presales out there for 2025. Secure your coins right now with a card or crypto.
For the latest updates on the project, connect with the SOLX community on X and Telegram.
DISCOVER: Top 20 Crypto to Buy in May 2025
Join The 99Bitcoins News Discord Here For The Latest Market Updates
Key Takeaways
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
Free Bitcoin Crash Course
- Enjoyed by over 100,000 students.
- One email a day, 7 days in a row.
- Short and educational, guaranteed!
Maximize Your Trading With Margex’s 20% Deposit Bonus
‘Buy in May, Get Paid in June?’ – $300K Bitcoin Calls Heat Up, BTC Bull Token Is Locked In
CoinGecko Report Analysis: What Moved Crypto in Q1 2025?
10 Best Crypto Bonuses in 2025 – Top Exchange Offers & Promotions
BingX Launches $10 Risk-Free Copy Trading Voucher for New Users in Exclusive Event
