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CryptoMedium•24 March 2026•

1 min read

Bitlayer (BTR) Token Plummets 78% Amid Rug Pull Allegations Despite Institutional Backing

Key Facts

1Bitlayer (BTR) token price dropped nearly 78% within 24 hours, trading around $0.041.

2The project is backed by major institutions including Franklin Templeton, Polychain, and Framework Ventures.

3The project faced sudden selling pressure amid allegations of a 'rug pull' (exit scam).

Bitlayer (BTR), a prominent Bitcoin Layer 2 project, witnessed a dramatic collapse as its token price plunged nearly 78% within a 24-hour window. The token is currently trading around $0.041 following intense selling pressure sparked by allegations of a potential "rug pull" or exit scam. This sudden downturn has shocked the market, especially given the project's high-profile backing from major institutions such as Franklin Templeton, Polychain Capital, and Framework Ventures. Despite raising $25 million in funding, the project's stability is now under severe scrutiny as investors fear a total loss of capital. Analysts suggest that this incident could significantly damage confidence in the emerging Bitcoin Layer 2 ecosystem. The situation remains fluid as the community awaits official clarification from the Bitlayer team regarding the massive sell-off.

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