Friend.Tech's Native Token Plummets After Airdrop During Version 2 Debut

Friend.Tech launched version 2 of its platform and airdropped its native token, FRIEND, which initially saw its price rise to $169 before plummeting to $2.5 due to liquidity issues. The new version of the platform includes the Money Club feature, which provides a space for financial discussion and networking, and a new point system. At present, crypto assets worth $29.8 million are locked in Friend.Tech, down from the peak of $52.04 million in early October. The airdrop was a "concentrated airdrop," with leading creators taking the most supply home, leaving retail investors with less than expected.