Introduction to Linea’s Price Surge

Linea’s price surged over 20% on Saturday as investors capitalized on its post-airdrop dip, pushing its market cap above $418 million. This significant rebound comes amid a dramatic rise in ecosystem metrics.

Ecosystem Metrics on the Rise

The total value locked (TVL) hit a record high of $1.94 billion, driven by key dApps like Aave. Linea (LINEA) is positioning itself to become a dominant force in DeFi, with stablecoin inflows and decentralized exchange volume both showing impressive growth.

Linea’s Potential

The Consensys-created layer-2 network could be entering the markup phase of the Wyckoff Theory, signaling further potential gains. Can Linea position itself as the leading L2 by TVL?

Price Movement

Linea jumped to $0.027, up by 30% from its lowest level this week. This jump brought its market capitalization to over $418 million.

Ecosystem Growth

Linea price rose as key metrics on its ecosystem jumped to a record high, a sign of its improving ecosystem. Its total value locked jumped to over $1.94 billion, much higher than the year-to-date low of $147 million.

Aave’s Contribution

Aave (AAVE), the biggest player in decentralized finance, has led this growth. Its TVL soared to over $1.1 billion, while its 24-hour fees in the network jumped to over $90,000. The other top dApps in the network are Renzo, Etherex, and Euler.

Goal to Become the Biggest Layer-2

This growth aligns with Linea’s goal of becoming the biggest layer-2 in terms of DeFi TVL. To achieve that goal, it will need to pass Base and Arbitrum, which have $7 billion and $4 billion in assets.

Decentralized Exchange Industry

Additionally, Linea is becoming a major player in the decentralized exchange industry. dApps in its network handled volume worth $1.97 billion this month so far, slightly lower than the $2 billion they handled last month. These are big numbers for a network that handled just $258 million in July.

Stablecoins on the Rise

The amount of stablecoins on the network is soaring. Its stablecoins jumped by over 1.5% in the last seven days to $298 million, with USD Coin having the most significant market share.

Price Analysis

The 30-minute chart shows that the Linea crypto price bottomed at $0.02168, a level it failed to move below after its airdrop. This rebound could be happening as investors buy the dip.

Potential Markup Phase

While it is too early to tell, there are signs that it is about to move to the markup phase of the Wyckoff Theory. If this happens, it could jump sharply, potentially to the key resistance level at $0.050, which is about 96% above the current level, a development that could be tracked on financial news sites like bitpulse.