Tech
Crypto Tech’s Social Media Friend Saw Token Value Crash 98%
Friend.techone of the most ambitious projects of cryptocurrency proponents in the social media sector, saw the value of its new cryptocurrency collapse almost immediately after its market debut.
On Friday, the decentralized social media platform conducted an “airdrop,” or unsolicited distribution, of its so-called native token, while also unveiling an upgraded version of the platform. After initially trading at a high of $169, the Friend token has since plummeted by about 98% to under $2, according to DeFi data tracker DEX Screener.