Bittime - Today, the FRIEND token experienced a significant price decline. The spotlight was focused on Huang Licheng, one of the largest investors in the FRIEND token, who experienced large losses due to the decline in the token's price.
Huang Licheng: FRIEND's Biggest Investor
Huang Licheng is known as the top buyer of FRIEND tokens since its launch. According to on-chain analysis from Ember, Huang Licheng has been recorded as having purchased FRIEND continuously since May 3, 2024.
The total funds spent by Huang Licheng to accumulate 8.048 million FRIEND tokens reached $15.35 million, equivalent to 4,873 ETH. Huang Licheng's average purchase price of FRIEND was $1.9 per token.
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FRIEND Drops 30%, Huang Licheng Experiences Floating Loss
However, the current price of FRIEND is only around $0.92 per token. The price decrease was allegedly triggered by friend.tech's migration plan from the Base blockchain to another blockchain.
As a result of this price decline, Huang Licheng is estimated to have experienced a floating loss (unrealized loss) of $7.95 million or the equivalent of 52% of his total investment.
Floating Loss: Not Selling Yet, Not Losing Yet?
It is important to note that the $7.95 million is a floating loss, not a real loss. Huang Licheng will only experience actual losses if he sells FRIEND tokens at a price below $1.9 per token.
However, this large floating loss is certainly a consideration for Huang Licheng to maintain his investment (hold) or sell FRIEND tokens (fold).
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No response yet from Huang Licheng
Until now, there has been no official response from Huang Licheng regarding the decline in FRIEND's price and the floating loss he experienced. Crypto observers are waiting for the steps this big investor will take.
Huang Licheng's case is also a valuable lesson for crypto investors. High price volatility is one of the main risks in investing in crypto assets. In-depth research and a mature investment strategy are needed to minimize losses.
Meanwhile, the success of the migration to the new blockchain and the development of the friend.tech ecosystem will also determine FRIEND's price movements in the future.
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How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way through 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.
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.
Also Read:
Friend.tech (FRIEND) Price Prediction 2024-2030: Will it Rise?
Friend.tech Launches FRIEND Token Airdrop, Here's the Leaked Information!
Friend.tech In Trouble, FRIEND Token Price Falls 98% After Launching!
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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