Bitlayer (BTR) Sinks 80% in 24 Hours as On-Chain Flows Point to Heavy Selling on Bithumb

On-chain analyst Ember (@EmberCN) reported that Bitlayer's BTR token fell 80% from yesterday afternoon, sliding from $0.20 to $0.04. On-chain data shows about 41% of the circulating supply—roughly 140 million BTR—was transferred to the Bithumb exchange within a single day, raising suspicion that Bithumb may have been the main venue for spot selling or potential price manipulation.