Linea, a Layer 2 network developed by ConsenSys, launched its native token after a long-anticipated Token Generation Event (TGE). The token opened for trading at around $0.024, achieving a fully diluted valuation (FDV) of $1.7 billion upon launch. However, the FDV subsequently declined to $1.7B, reflecting initial market excitement and investor selling pressure following the airdrop claim window’s opening. This is a common pattern in token launches, where early recipients often sell their free tokens, leading to price dips. Despite the immediate decline, Linea remains strong within the Ethereum L2 ecosystem, holding the #3 spot by FDV among Ethereum L2 tokens.