I wrote a report on layer3 before, and it was quite interesting when I came across it today.
Technically it is a bit like the right half of a double bottom. And it has a 2-hour arc bottom. #layer3
The circulating market value is only 1,400 US dollars, which is super cheap. That’s not all, most of the circulating l3 is pledged.
After checking the data on the chain, the circulation is 360 million, but the pledged amount is as high as 280 million. In other words, there are only 80 million in circulation, which is only 3.2 million US dollars at the price of 0.04.
Looking at the exchange inventory, it has been declining since August 3.
Kind of interesting
