📉 LayerZero's price fell sharply on Friday, erasing all the gains it made on Thursday after its airdrop. LayerZero fell to $3, from this week's high of $4.57. As a result, its market capitalization fell below $1 billion, amounting to $745 million.

🔍 This happened during a major sell-off in the cryptocurrency industry, with most tokens falling by double digits. Bitcoin fell below key support of $64,000, and the market capitalization of all tokens fell to $2.33 trillion.

💬 LayerZero users also criticized the proof-of-donation mechanism during its airdrop. All token applicants were required to donate $0.1 to Protocol Guild in order to receive tokens.

🔄 Despite this, some traders who have suffered heavy losses claim that they will hold on to their tokens and wait for a recovery.

📈 LayerZero price recovery will depend on how the crypto market performs in the coming weeks. It is likely to fall further if Bitcoin continues its bearish trend and crosses $56,527, its lowest point in May.

What are your thoughts on this? 🤔 Leave your comment below!