Solayer Price Plummets 62% in Two Days as Concerns Rise of Market Manipulation

The price of Solayer (LAYER) has experienced a dramatic decline over the past two days, plummeting by 62%, fueled by sharp drops in recent hours. Traders are expressing suspicions that market makers might have orchestrated the rally to subsequently sell their positions and trap retail buyers. 1. The drop is notable as it involves heavy selling and high trading volume, leading to panic selling and forced liquidations. This has triggered comparisons with OM’s price crash earlier this year. 2. An analysis of layer transaction data suggests that a select group of top wallets holds a significant portion of the tokens (74.68%), adding further credence to these concerns about potential market manipulation.