Market Turbulence as Vombatus (Twitter: @@Vombatus_eth) Sells 176 Friend.Tech Keys
On Oct 24, Vombatus executed a significant sell-off of 176 keys, triggering a profound impact on the market:
1️⃣ Trust Issues Emerge
Investor trust has been shaken as Friend.tech TVL witnessed a substantial dip in 24hrs, plunging from $42.3M to $38.7M. Concurrently, the count of Daily Active Traders experienced a stark decline, plummeting from ~16.4k to a mere 8.18k.
2️⃣ Supply Outweighs Demand
The "Key" Net Trading Volume reached an all-time low. The number of buyers has decreased significantly, dwindling from approximately ~17k to just 3.7k. Evidently, users have become increasingly apprehensive about engaging in Key transactions.
✍️ Note: Data as of October 25, 2023.
