PEOPLE

Friend Tech News | Facing the largest wave of capital outflow, major players are fleeing copycat platforms

share
Friend Tech News | Facing the largest wave of capital outflow, major players are fleeing copycat platforms

Alvin, the founder of the media "Daily Coin Research," has long been paying attention to the new social platform Friend.Tech. When FT began to be heavily promoted among Chinese KOLs, he also noticed signs of the trend cooling off.

Friend Tech FT experiences the largest net outflow ever

Alvin stated that FT faced a net outflow of 2300 ETH on 10/4, the largest ever. TVL dropped by 7.8% in a single day, indicating that while TVL decreased, new funds were also increasing, suggesting that the existing funds in FT could start moving at any time.

Friend Tech FT has large holders taking profit, but not all have left yet

Alvin mentioned that an active participant in Friend Tech FT, @HanweChang, took profits of 140 ETH on 10/4, becoming the main reason for the decline in TVL. By withdrawing 140 ETH yesterday, they became the main reason for the TVL decrease. The movements of other large holders can be viewed through "actoin by top creators last 3days" in this Dune dashboard: actoin by top creators last 3days

Top creators are currently focusing on the top 25 accounts, with an average price needing to be above 2.1 ETH to appear. Alvin observed that in the past two days, some large holders withdrew funds, including @0xCaptainLevi, @The_Bogfather, and @dingalingts, all of whom may have used some funds to play in the parallel version, Stars Arena, as these three are very active FT players.

Stars Arena: friend.tech's forked version Stars Arena is rapidly growing

Alvin noted that there is no collective withdrawal of funds by high-ranking accounts yet, so there is no need to panic, and the probability of the market becoming active again is very high.