In a twist that even the most imaginative of intergalactic hitchhikers couldn’t foresee, Linear Finance, that quirky decentralized protocol known for its synthetic asset wizardry, has decided to pull the plug on its operations. Yes, you heard it right! They’ve officially announced that they’re done, kaput, finito! 🎩✨
This shocking revelation has sent shockwaves through the DeFi community, causing a sell-off frenzy that has seen its native token, LINA, plummet by a staggering 25% in just 24 hours. Talk about a rollercoaster ride without the safety harness! 🎢😱
Notice of Closure: After careful consideration (and perhaps a few cups of tea), Linear Finance has made the difficult decision to cease operations. Despite our ongoing efforts to innovate and build throughout the years, the project has struggled to generate sustainable returns. Outside of a brief period of…
— Linear Finance (@LinearFinance) March 27, 2025
Meanwhile, in a galaxy not so far away, DefiLlama reports that the total value locked (TVL) of this once-mighty protocol has crashed to a mere $79,521. Yes, that’s right, folks! From a peak of over $32 million to the price of a decent used spaceship! 🚀💸
The Collapse of Linear Finance
In an official statement that could rival the most dramatic of soap operas, Linear Finance confirmed its struggles to generate sustainable returns over the years. Despite a brief period of profitability following its launch in 2019-2020, it seems the financial model was about as stable as a three-legged chair on a rollercoaster. 🪑🎢
The final nail in the coffin came when Binance decided to delist the LINA token, wiping out a whopping 65% of its market capitalization. Ouch! That’s like being told your favorite restaurant has closed down, but worse! 🍔💔
This delisting drastically reduced the project’s operational runway, leaving Linear Finance with no choice but to shut down. It’s like running out of fuel in the middle of space—definitely not ideal! 🚀💨
Market Reaction and LINA’s Price Plunge
Following the announcement, LINA’s price has taken a steep dive, currently trading at $0.0005036. That’s a 25% decline in the last 24 hours, according to CoinMarketCap data. It’s like watching your favorite stock crash while you sip your morning coffee! ☕📉
The token’s market cap now stands at $5.03 million, while its 24-hour trading volume has risen by 34.76% to $54 million, indicating a panic-driven sell-off that would make even the most seasoned traders break a sweat! 😅💰
Technical indicators are waving red flags like they’re at a football game. The Relative Strength Index (RSI) is at 22.45, deep in the oversold territory, suggesting extreme selling pressure with little immediate signs of recovery. It’s like being stuck in a traffic jam with no end in sight! 🚦🚗
The Bollinger Bands (BB) are showing that the price is perilously close to the lower band ($0.00035), indicating strong downward momentum and a distinct lack of buying interest at current levels. It’s like trying to sell ice to penguins! 🐧❄️
A failure to hold above this lower BB could result in another massive dump for the LINA token. Buckle up, folks! It’s going to be a bumpy ride! 🎢💥
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2025-03-27 19:12