Friend.Tech Money Metrics Surge Ahead of Potential Airdrop, V2 Release

Users are once again drawing interest to social app Friend.Tech with the announcement of an upcoming airdrop for its latest update. During the economic downturn, this platform was known for generating significant income, making it an attractive destination for many.

Last week, Friend.Tech received over $7 million in new deposits, ending several months of decreases. This influx brought the total value secured on the platform to approximately $40 million, according to available data. Furthermore, weekly fees surpassed $1.3 million for the initial time since November, resulting in a weekly revenue of roughly $600,000.

Atop Base, a secondary blockchain network, Friend.Tech provides an exclusive group chat platform for crypto influencers on X. Through this setup, these influencers can distribute “shares” granting entry to the private chat. The appeal for users lies in potential benefits like trading tips, token recommendations, and opportunities for seed funding investments – thereby increasing the worth of the shares they acquire.

Before the arrival of version 2 of the app, scheduled for release after April 20 by developers, there has been an increase in activity on the platform. An essential aspect of this update involves broadening the platform’s scope beyond X to draw in new users.

During the past weekend, developers gave a sneak peek of the upcoming FRIEND token. Users speculate that the distribution of these tokens might depend on the number of points accumulated through the use of Friend.Tech prior to their official release.

At its peak in August, Friend.tech was bringing in over $1 million every day from fees, thanks to its popularity on X and amassing over 100,000 unique users – a substantial number for crypto apps. Notable personalities in the crypto world like @Cobie and @HsakaTrades saw their shares soar as high as three ethers, or approximately $5,000 each.

In the aftermath, interest in the activity waned, with its appeal fading away by the months that followed. Concurrently, security concerns arose on the platform, tarnishing its reputation and presenting alternatives within the industry that attracted investors instead. As a result, significant withdrawals occurred since November.