Bittime - Friend.tech, a decentralized distributed social network founded in August 2023, saw the value of the FRIEND token drop by 98.5%. Check out the explanation below!
Investors Hit When FRIEND Token Crashes
FRIEND tokens first appeared on the market at $169 per token, attracted 18,000 holders, and had a circulating supply of 14 million tokens.
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However, the current trading price has fallen to $1.26. Which resulted in liquidity of $5.4 million and a market capitalization of $27.7 million. This bothers many investors.
The airdrop's goal of providing tokens to the community faces a number of challenges. Those using social media platform X, expressed their dissatisfaction with the decline in the value of the tokens they obtained from the airdrop.While certain recipients claim that the value of their tokens decreases in a matter of hours, difficulties prove this.
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DeFi Researchers Criticize Friend.tech V2 Launch
Although the FRIEND token is currently experiencing a decline, several crypto analysts predict its recovery. Notably, Daan Crypto Trades analysts say that market sentiment may change once users start seeing profits on their investments, the value of the token may increase in the future.
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PAt the beginning of the launch of the Friend.tech application, there were many problems that hampered its performance.Ignas, a DeFi researcher, criticized the launch of Friend.tech V2 as a "huge failure."
Ignas stated there was a problem with using the application and asked whether the team had misfocused during development. There was speculation about whether the team intentionally lowered the price to increase the value after that.
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You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
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Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read more:
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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