Linea Token Launches with $1.7B FDV After TGE
Linea's TGE sees its token priced at $0.024, with FDV dropping from $3B to $1.7B post-airdrop.
- Linea token trades at $0.024 after its TGE
- FDV drops from $3B to $1.7B after airdrop claims
- Still ranks #3 in FDV among Ethereum L2s
Linea, an Ethereum Layer 2 network developed by ConsenSys, has officially launched its native token following its long-anticipated Token Generation Event (TGE). The token opened trading at around $0.024, giving it a fully diluted valuation (FDV) of $1.7 billion at launch.
Shortly after the token went live, its FDV briefly peaked at $3 billion, reflecting initial market excitement. However, the valuation started to decline soon after the airdrop claim window opened, a common trend in token launches where early recipients rush to sell.
Despite the drop, Linea maintains a strong position in the Layer 2 ecosystem. It now holds the #3 spot by FDV among Ethereum L2 tokens, behind heavyweights like Arbitrum and Optimism.
What Caused the FDV Drop?
The sharp decline in FDV after the token launch was largely driven by airdrop activity. As thousands of early users claimed and sold their free tokens, the sell pressure pushed prices down. This is a well-known pattern in the crypto world, where free token distributions can lead to short-term price volatility.
The market may also be adjusting to Linea’s tokenomics, supply schedule, and current adoption metrics. While the network boasts strong backing from ConsenSys and has attracted notable attention during its testnet phase, investors are likely waiting for real utility and ecosystem development to justify higher valuations.
Linea’s Position Among Ethereum Layer 2s
Even after the correction, Linea’s $1.7B FDV ranks it among the top Ethereum scaling solutions. The network uses zk-rollup technology, aiming to offer faster and cheaper transactions while retaining Ethereum’s security.
This strong FDV ranking indicates significant market confidence in Linea’s long-term potential, even amid short-term volatility. With further development, integrations, and community engagement, Linea could continue to cement its place in the Ethereum L2 landscape.
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