Token

Version

Friend.tech

<a href="https://bitcoinworld.co.in/friendtechs-native-token-friend-begins-trading-amidst-airdrop-claims-issues/" title="FriendTech’s Native Token, FRIEND, Begins Trading Amidst Airdrop Claims Issues" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">The native token of web3 social media platform FriendTech, FRIEND, witnessed a significant drop in value to a low of $0.80 following its launch.</li>
</ul>
<h3 id="span-style-font-weight-400-friendtech-s-native-token-begins-trading-amidst-airdrop-claims-issues-span">FriendTech’s Native Token Begins Trading Amidst Airdrop Claims Issues</h3>
The native token of web3 social media platform FriendTech, FRIEND, witnessed a significant drop in value to a low of $0.80 following its launch.&nbsp;
However, the token briefly traded at an astonishing price of $169. Currently, according to CoinMarketCap, the Friend token is being traded at $2.51, up 218% from its lows.
With nearly 18,000 holders and a circulating supply of around 14.5 million tokens, the Friend token faced substantial selling pressure, coinciding with reports from multiple users on X who were unable to claim the airdrop. Some speculated that the price drop could be attributed to liquidity issues.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/friend-tech-prepares-for-version-two-launch-and-airdrop-but-leaked-smart-contract-raises-controversy/" aria-label="“Friend.tech Prepares for Version Two Launch and Airdrop, but Leaked Smart Contract Raises Controversy” (Edit)" rel="noopener noreferrer nofollow">Friend.tech Prepares for Version Two Launch and Airdrop, but Leaked Smart Contract Raises Controversy</a>
Liquidity plays a vital role in determining market stability and the ability to handle significant buy and sell orders without dramatic price swings. In low liquidity environments, a few large orders can disproportionately impact market prices.&nbsp;
While initially lacking liquidity, Friend token’s current liquidity currently exceeds $4 million. Earlier today, the token commenced trading on Bunny Swap, accessible via the FriendTech app.
FriendTech recently conducted an airdrop of its native token alongside the introduction of version 2 of its platform.&nbsp;
Version 2 features “Clubs,” which are community spaces owned and operated by key holders. Transactions within these Clubs will be conducted using Friend tokens, with a 1.5% fee benefiting liquidity providers on the platform’s decentralized exchange (DEX).
FriendTech emerged in August of the previous year on Coinbase’s Ethereum Layer 2 blockchain Base, offering an exclusive networking service through an invite-only approach.&nbsp;
The platform leverages social tokens known as “Keys” to grant users access to exclusive chats and content from creators.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/friendtechs-native-token-friend-begins-trading-amidst-airdrop-claims-issues/" rel="noopener noreferrer nofollow">FriendTech’s Native Token, FRIEND, Begins Trading Amidst Airdrop Claims Issues</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

FriendTech’s Native Token, FRIEND, Begins Trading Amidst Airdrop Claims Issues

Table of Contents

ItsBitcoinWorld

Other articles published on May 7, 2024

Jacobs Sees 4.7% Revenue Growth to $4.3 Billion in Q2

Big Rally Expectation for This Altcoin from Franklin Templeton, Who Manages 1.5 Trillion Dollars!...

Ethereum Price Drop Amid Regulatory Hurdles

New South Korean leadership will press for Bitcoin ETF trading

Weekly Price Forecast: Dogecoin (DOGE), Dogwifhat, and Pepe Coin’s Potential Bull Run in the Cryp...

Crypto Emerges as Top Theme in Modern Investing: ‘Big Short’ Investor Steve Eisman Highlights Cry...

Join our free newsletter for daily crypto updates!