𝐖𝐡𝐚𝐭 𝐡𝐚𝐩𝐩𝐞𝐧𝐞𝐝 𝐭𝐨𝐝𝐚𝐲 𝐢𝐧
@friendtech! (𝟐𝟒/𝟏𝟎/𝟐𝟎𝟐𝟑)
1⃣ Vombatus's Sell-off and Impact
Vombatus (
@Vombatus_eth) dumped 176 keys, causing the key price to plummet from 8.23
$ETH to 1.68
$ETH. He decided to move part of the ETH he sold and migrate it to NBC. Vombatus alone generated 197.7
$ETH (equivalent to $350k ) in fees for Friend Tech. The key price of Vombatus soared to $4,600 USD in NBC, currently retraced back to $3,600 USD.
2⃣ Contagious Market Effect
Vombatus's selling triggered a massive contagion effect in the market, leading to widespread panic selling. Several notable individuals made significant moves during this time, with some quitting and others taking substantial hits.
Quitting/Taking a break
- Tre (
@trebooomin): Key price dropped from 0.6
$ETH to 0.09
$ETH.
- Dapper (
@eosdapper): Key price dropped from 0.7
$ETH to 0.19
$ETH.
Significant Drops
(Note: There may be more significant drops, but i'm just reporting what i noticed)
- Cnig (
@cnig69): Key price dropped from 0.7
$ETH to 0.34
$ETH, rebounding to 0.47
$ETH.
- Pram (
@pram_eth) : Key price dropped from 0.75
$ETH to 0.24
$ETH.
- Bogfather (
@The_Bogfather) : Key price dropped from 1
$ETH to 0.39
$ETH.
- Manifold (
@ManifoldTrading) : Key price dropped from 1.1
$ETH to 0.3
$ETH.
- Jawz (
@sayinshallah) : Key price dropped from 1.6
$ETH to 1
$ETH.
- Rice (
@Ricecooker38) : Key price dropped from 0.43
$ETH to 0.169
$ETH.
3⃣CBB and Captainz Levi
CBB (
@Cbb0fe) and Captainz Levi (
@0xCaptainLevi) offered a 5% fees refund for all buyers of their keys in the next 48 hours, including both
@CBBuuull and
@GemHausHQ.
4⃣ Racer's update
Racer mentioned that the "hare" in him wants to make big moves, but the "tortoise" in him advises against rushing, hinting there might be some significant updates but he wanted to take things slow.
Racer also outlined the current goals, focusing on security > trust and safety > usability on current feature > make it more fun > new audience > and public exit
5⃣ Friendtech TVL
Despite a 9% rise in the price of ETH from $1,650 to $1,800, the TVL dropped from $44 million USD to $39 million USD.
6⃣ Friendtech v NBC
The selloff in FriendTech appears to have bottomed for now, while NBC is currently experiencing a slight retracement after yesterday's remarkable surge to a $4.2 million USD TVL.