Main Points About Bitcoin, web3, Ethereum, and Cryptocurrency:
- Friend.tech experienced a sharp decline in its token price following airdrop claims.
- The platform launched its native token FRIEND along with version 2 of its protocol on Ethereum L2 network.
- DEX Screener data showed a significant drop in token price and liquidity issues for FRIEND.
- Users criticized friend.tech for the claim portal’s inefficiency and difficulties in collecting the airdrop.
- FRIEND token saw a price drop from $10 to under $2, but liquidity improved with over $8.3 million.
- The token had over 20,000 holders with a $67 million market cap.
- Liquidity remained a challenge as sellers outnumbered buyers by over 2,000.
- Friend.tech token launch served as a case study on airdrop culture in the cryptocurrency market.
Friend.tech Airdrop Claims Process and Token Price Decline:
Following the launch of its native token FRIEND on Ethereum L2 network, friend.tech faced backlash as the token’s price plummeted and liquidity concerns arose. Users criticized the inefficiencies in the claim portal and the challenges in collecting the airdrop, leading to a sharp decline in the token’s value.
DEX Screener Data and Token Liquidity Issues:
Analysis from DEX Screener revealed a significant drop in FRIEND token’s price and liquidity, with users expressing dissatisfaction over the token’s performance. Liquidity remained a challenge as sellers dominated the market, impacting the overall trading dynamics of the token.
Market Cap and Holder Statistics for FRIEND Token:
Despite the price decline, FRIEND token showed signs of improvement with increased liquidity and a growing number of holders. However, challenges persisted with liquidity issues and market dynamics, presenting a learning opportunity for market participants in understanding airdrop culture and token distribution.
