🚨 The largest recipient of the Friend.tech airdrop, "Murphys1d," swiftly sold over 55,000 tokens just hours after the airdrop, sparking concerns over the token’s price. Some users, like Luke Martin, faced difficulties claiming their airdrops, compounding the situation. 😞
📉 The new Friend.tech (FRIEND) token plummeted over 52.5% since launch, from $3.26 to $1.32, triggering panic selling among investors. The token's price fell over 32% within the last hour, according to CoinGecko data. 💸
🗣️ Anndy Lian, blockchain expert, believes the short-term impact of the whale's sell-off may not dictate the token's long-term trajectory. He suggests that the sell-off could lead to a more decentralized token distribution, reducing the risk of single entities controlling the project. 🔄
👨💼 However, Lian emphasizes that the token’s value depends on community trust in Friend.tech and how the team handles the situation.
🌱 The incident highlights the persistent issue of airdrop farmers, who exploit emerging protocols solely for rewards, exacerbating sell pressure and causing panic among legitimate users. 📉
