Bittime - The price of the Friend.tech token plummeted 20% after the founder of the platform, Racer, indicated that he wanted to leave Base, the Ethereum Layer-2 on which Friend.tech is based.
Disharmony arises between Racer and Base
The crypto world is once again filled with drama. This time it comes from Friend.tech, a Web3-based social media platform. The price of Friend.tech's native token (FRIEND) experienced a sharp decline of up to 29.12% today. The cause? A social media post by one of the founders of Friend.tech, known by the pseudonym Racer.
Also read: Bonds and Real Estate on the Verge of Crisis, Robert Kiyosaki Suggests Investing in Bitcoin
In his upload, Racer openly stated his desire to leave Base, the Ethereum Layer-2 network which is Friend.tech's hosting platform. Not only that, Racer is even offering a prize worth $200,000 to anyone who can migrate Friend.tech out of Base without causing significant problems for its users.
Check Today's Crypto Market:
This upload seems to confirm the existence of disharmony between the Friend.tech team and Base. Racer admitted their relationship with Base was "rocky". In another post, he said the Farcaster team (another project in the Base ecosystem) had "badmouthed" Friend.tech at launch, causing the Friend.tech team to feel isolated and excluded.
Base Response and Impact on FRIEND Token Price
Responding to Racer's upload, Jesse Pollak, head of Coinbase, gave a diplomatic response. He acknowledged the Friend.tech team may feel "isolated and disconnected" from the broader Base and Ethereum ecosystem. Pollak stated that he would respect Friend.tech's decision, but he hoped they would stay at Base.
Also Read How to Buy Crypto:
This drama has a direct impact on the price of FRIEND tokens. According to The Block's pricing page, the FRIEND token, which was just launched along with version 2 of Friend.tech, experienced a sharp decline after Racer's upload. The decline reached around 20%.
The Future of Friend.tech is Still Gray
Racer's desire to leave Base has raised uncertainty regarding Friend.tech's future. Are they really going to leave Base and look for a new platform? Or will they persist after getting a response from Base? The final decision is in the hands of the Friend.tech team, but what is certain is that this drama has caused anxiety among FRIEND token holders.
How to Buy Crypto on 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:
Tutorial for Getting LayerZero Airdrop
Ethereum ETF Decision Day: Will Ethereum Prices Skyrocket?
$TURBO Prediction: Hot New Meme Coin, Potential to Continue Rising?
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.
Comments
0 comments
Please sign in to leave a comment.