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LINEA Token Under Pressure as 1.38B Large-Scale Unlock Sparks Selling Pressure
The past 24 hours, LINEA dropped 2.4%, showing weak performance amid a flat market. What is the trigger? The latest token unlock event.
According to data, this unlock released 1.38B LINEA tokens, worth approximately $14.6 million, accounting for 6.76% of the circulating supply. The influx of new supply immediately created noticeable selling pressure.
The technical outlook is also not optimistic. The RSI indicator fell to 29, entering the oversold zone, but this did not support a price rebound—prices are still hovering below key support levels. In the short term, the supply shock combined with technical weakness means LINEA still needs to absorb the selling pressure caused by this unlock. Investors should closely watch whether new support levels can be established in the subsequent period.