10.09.2025 22:51

Here is a reimagining of the news article, employing diverse sentence structures and focusing on key details:

The highly anticipated token from Linea, the Layer 2 blockchain project spearheaded by Consensys, has finally made its debut. This launch comes after more than two years of the platform’s mainnet being operational, marking a significant milestone in the network’s development with the token generation event (TGE).

Initially, the LINEA token entered the market with a market capitalization of $550 million. However, post-launch, the token has experienced challenges, primarily stemming from the distribution and subsequent selling activity of airdrop recipients. This has led to a subsequent decline of approximately 20%, settling the market capitalization at $382 million currently. This equates to a fully diluted valuation (FDV) of $1.7 billion. Prior to the official launch, LINEA's pre-market trading on Hyperliquid had indicated a valuation exceeding $1 billion.

It is important to note that this type of early market performance is no longer unusual. Recent token launches by other Ethereum Layer 2 networks, such as ARB and OP, have also shown significant price corrections, losing approximately 80% of their value from their 2024 peak values. Furthermore, prominent Layer 2 projects launched in 2024, namely ZkSync and Blast, have encountered price decreases ranging from 80% to 90% from their all-time highs, according to internet resources.

Adding to the day's challenges, the network faced difficulties in the run-up to the TGE. Block production was temporarily halted for a duration of 46 minutes overnight. Simultaneously, many users reported difficulties in claiming their allocated airdrops.

Addressing the outage, Linea product lead Declan Fox, via a statement on X, attributed the issue to a "sequencer issue" which was triggered by a "large bundle" transaction. Fox further explained that transactions of this magnitude can put immense strain on a blockchain's underlying technology.

With the initial excitement of the LINEA airdrop beginning to wane, the spotlight is expected to shift towards Linea's upcoming ecosystem initiatives. A substantial portion, an estimated 75% of the total LINEA token supply (valued at around $1.27 billion), remains to be distributed. This upcoming distribution phase is anticipated to play a major role in shaping the token's future trajectory, according to internet sources.