1. **Trading Volume Surge:** Friend.tech experienced a trading volume surpassing $10 million over the weekend, its highest in weeks.
2. **Potential Exit Behavior:** Analyst Colin Wu suggests the spike might indicate users leaving the platform.
3. **Ethereum Withdrawals:** Dune Analytics data reveals a faster rate of Ethereum withdrawals compared to minting, pointing to significant redemptions.
4. **Withdrawal Magnitude:** Over 5,000 ETH was withdrawn, the most significant since October 24, leading to a 21% drop in the platform's Total Value Locked (TVL) to $33.6 million.
5. **TVL Decline:** Friend.tech's TVL has fallen around 34% from its October peak of $50 million.
6. **User Stagnation:** Despite high cumulative user numbers (839,190), new user activity has not shown growth since late October.
7. **Security Issues:** The platform faces challenges with scams targeting users via phishing and SIM-swap attacks.
8. **Bot Removal:** The team removed 600,000 identified bot accounts over the weekend, inadvertently locking out genuine users.
9. **User Discontent:** Prominent crypto influencers reported being locked out, facing difficulties recovering assets, leading to growing discontent among users.
10. **Diminishing Hype:** As users express frustration and withdraw assets, the enthusiasm and interest in Friend.tech seem to be declining.
