LINEA’s Wild Ride: From Sky-High to Down in the Dumps 🚀📉

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LINEA, the native token of the Layer 2 network Linea, has seen its value dip nearly 30% since launching yesterday.

Heavy selling pressure from the airdrop could be behind the sharp decline. Such initial turbulence is common after token launches, reflecting short-term speculative dynamics. It’s like a carnival ride, up and down, but mostly down in this case. 🎡

Why is LINEA Token Price Dropping?

For context, Linea is a Layer 2 scaling network for Ethereum (ETH) developed by Consensys, the company behind MetaMask. The network is designed to make Ethereum faster, cheaper, and more user-friendly without sacrificing security. Think of it as a fancy new car that promises to run smoother and cost less in gas. 🚗💨

The LINEA token serves as the native asset of the Linea network, supporting activity across both Linea and Ethereum. However, users still pay gas fees on the network in ETH rather than in the token itself. So, it’s like having a shiny new car but still needing to fill it with the old, expensive gas. 😕

Yesterday marked the token’s debut, accompanied by listings on major exchanges. LINEA launched with a total supply of roughly 72 billion tokens. That’s more tokens than there are grains of sand on a beach. 🏖️

According to the official tokenomics, the token does not have special allocations for insiders or investors. Furthermore, the team allocated 9% of the total supply for an airdrop to reward early ecosystem participants.

“Early users receive tokens from an allocation equal to 9% of token supply, to be airdropped and fully unlocked at TGE,” the team stated.

The launch drew significant attention, with LINEA ranking as the top trending coin on CoinGecko. Initial trading reflected strong demand, as the token surged to an all-time high of $0.046 shortly after release. But just like a firecracker, it went up fast and came down even faster. 💥

However, heavy selling pressure emerged almost immediately, driving the price down sharply. CoinGecko data showed that LINEA plunged to an all-time low of $0.022 after the peak. At the time of writing, the altcoin traded at $0.023, down approximately 30% since its launch. It’s like watching a roller coaster drop from its highest point. 📉

Trading activity has also been substantial, with volumes spiking to $418 million. The transaction surge suggests that many airdrop recipients moved swiftly to liquidate their holdings, reinforcing the downtrend. It’s like everyone decided to cash out their lottery tickets at once. 🎟️💰

“$10,000 banked TGE was chaos – claims frozen ~1h. Price wicked to $0.040, but I sold most around $0.030. I had 308,000 LINEA total, sold the majority, still holding 40,000,” a trader posted.

Nevertheless, many traders felt disappointed with LINEA’s price performance and even the allocated airdrop reward. Some felt like they’d been tricked into a bad deal. 😒

“Linea, when you look at the chart, you realize that you have been scammed,” a user stated.

so you are telling me with a straight face

i spent $147 in gas in Linea, endured 2-3 years of mundane tasks, human verification, lp’d, traded nfts, and actually used it for months

to get an allocation of 4,200 LINEA that is at a a whopping $126 at pre-market prices

it’s never…

– Kov (effort arc) (@0xkovv) September 10, 2025

Crypto commentator Parcifap expressed strong skepticism about the LINEA token, warning that it could become one of 2025’s top disappointments. He argued that pre-market trading showed little enthusiasm. It’s like a party where no one shows up. 🥳…

He further criticized Linea’s incentive design, noting confusion, and dismissed claims that Consensys’ backing alone would ensure the network’s success. “Just because a big name is involved doesn’t mean it’s a sure thing. Sometimes, it’s just a lot of hype.”

“Almost every sybil is screaming, ‘Hold.’ Ask yourself why they want you to be the exit liquidity. Best case? hedge around $0.035-$0.04,” the analyst cautioned.

Meanwhile, others reported being unable to claim their airdrop during the TGE, which affected their ability to take profits. It’s like showing up to a free pizza party only to find out the pizza is all gone. 🍕…

“The LINEA tokens were sent to the claim contract 50 minutes late for airdrop users, while Binance users were already claiming and dumping instantly,” another market watcher added.

Despite this, some remain optimistic about the altcoin’s prospects. They see the current downturn as a buying opportunity. 🤑

“Despite unhappiness from airdrop I think LINEA is so undervalued project. After claiming price dumped again. I see here as an opportunity and have some from spot,” an analyst remarked.

Ethereum co-founder Joseph Lubin highlighted that holding LINEA may provide access to further rewards. According to him, incentives will not be limited to Consensys. They will also come from other aligned projects and protocols. It’s like joining a club where the perks keep coming. 🎁…

“Together, we are all bootstrapping the Linea Token Economy. Holding LINEA tokens signals that you are a Linea community member and are likely engaged in productive Linea Economy activities: building, liquidity provision/staking, using, collecting,” Lubin wrote.

The token’s first trading day was marked by volatility. Now, the market remains divided. Some see LINEA’s sharp correction as a typical post-airdrop shakeout, while others warn of deeper structural flaws. Whether the token stabilizes and gains traction will depend on how effectively the network and its backers build sustainable demand beyond the initial airdrop wave. It’s a tale of two cities, or in this case, two markets. 🌆…

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2025-09-11 13:25