Altcoin
FriendTech Token Launches, Airdrop & Version 2 Go Live
The much-anticipated launch of the native token for FriendTech, a pioneering Web3 social media platform, marks a significant milestone in the evolution of decentralized networking. Following months of development and preparation, the Friend token has been officially introduced and is now actively trading on its decentralized exchange (DEX) hosted on the Base network. Market data compiled by DexScreener reveals that the Friend token is currently valued at $3 per unit, boasting a circulating supply of approximately 14.5 million tokens.
FriendTech has garnered attention for its innovative approach to social networking, notably through its exclusive networking service that leverages social tokens known as “Keys.” These Keys grant users access to specialized chats and premium content from creators, fostering a sense of community and exclusivity within the platform. FriendTech originally made waves when it launched on the Ethereum Layer 2 network Base back in August, positioning itself as a frontrunner in the burgeoning realm of decentralized social media.
FriendTech Conducts Token Airdrop Alongside Version 2 Launch
In a strategic move to engage and incentivize its user base, FriendTech has initiated a token airdrop concurrent with the rollout of its eagerly awaited version 2 (v2) platform. This latest iteration introduces users to a slew of new features aimed at enhancing their overall experience. One notable addition is the introduction of “Clubs,” designated community spaces owned and operated by key holders. Within these Clubs, users can engage in discussions, share content, and foster connections within their respective communities.
Transactions within these Clubs will be facilitated using Friend tokens, the platform’s native currency, with a nominal 1.5% fee allocated to liquidity providers on the DEX. To participate in the token airdrop and claim their share of tokens, users are required to fulfill specific criteria. This includes joining at least one Club and following a minimum of 10 users on the FriendTech platform, encouraging active participation and community engagement among users.
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FriendTech Delays Token and Version 2 Launch, Prepares for Airdrop
Despite initial projections for an April 29 release, the launch of FriendTech’s token and version 2 platform has encountered a slight delay, now slated for a later date. The announcement, made by FriendTech on April 27, cited additional preparations and optimizations as the rationale behind the postponement. However, progress continues unabated, with FriendTech affirming the completion of the necessary snapshot for the forthcoming airdrop distribution, scheduled for today May 3.
Despite the temporary setback, FriendTech maintains its prominence within the Base network ecosystem, currently ranked as the ninth-largest protocol by total value locked. According to insights provided by DeFiLlama, FriendTech boasts an impressive total value locked of approximately $30 million, showing its significance within the decentralized finance landscape. As anticipation mounts for the impending launch and airdrop, stakeholders eagerly await the next chapter in FriendTech’s journey towards redefining the future of social networking on the blockchain.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana is now home to the largest yield-bearing tokenized treasury following the launch of a new share class on the network. According to a press release, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) has extended support to Solana, pushing the frontier for traditional money market funds.
BUIDL Expands To Solana As It Eyes Expansion
One year after BlackRock and Securitize teamed up to roll out BUIDL, the blockchain-based money market fund has made its Solana debut. Securitize announced the development in a press release, noting the rollout of a new share class on Solana.
Following the expansion, BUIDL investors can now use the tokenized fund across Solana’s ecosystem. Securitize and BlackRock are eyeing lower transaction costs and instant settlements associated with the Solana network.
“As the market for RWAs and tokenized treasuries gains momentum, expanding BUIDL to Solana – a blockchain known for its speed, scalability, and cost efficiency – is a natural step,” said Securitize CEO Carlos Domingo.
Solana Foundation President Lily Liu stated in a press release that Solana will offer BUIDL a balance between innovation and operational efficiency. Liu cited Solana’s rising network metrics and active developer ecosystem as key reasons for the network to power the next wave of real-world assets (RWA).
BUIDL, with $1.7 billion AUM, has to stave off competition from Fidelity’s Treasury Digital Fund currently eyeing an OnChain share class on Ethereum.
Solana’s Institutional Adoption Surges To New Levels
Several institutions are tapping Solana for integrations to improve the scope of their offerings. Polymarket joined the fray with an announcement enabling SOL deposits of the prediction markets platform. Before Polymarket’s announcement, users could only fund their accounts via Circle’s stablecoin offering, USDC.
A wave of Solana exchange-traded funds (ETFs) are angling to flood the markets, a clear indicator of rising institutional appetite.
Following the BUIDL announcement, SOL currently trades at $144, sparking enthusiasm for a potential Ethereum flippening. However, daily trading volume has waned to settle down at $3.35 billion following the frantic exchange following Polymarket’s integration.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Chainlink (LINK) price has seen a significant surge after partnering with Abu Dhabi’s ADGM. This sparks a bullish sentiment signaling a major rally ahead. Experts remain optimistic about LINK’s future trends and predict that Chainlink will soon ascend to new highs.
Let’s unveil Chainlink’s recent Abu Dhabi partnership and its potential implications on the LINK price.
Chainlink (LINK) Price Sees Major Rally: Is $44 the Next Target?
Driven by recent developments, the Chainlink (LINK) price has seen a significant uptrend. With its price increasing by more than 8% in a week, Chainlink is expected to continue its bullish path.
Recently, an analyst, known on X as CW, spotted a bull flag pattern on Chainlink’s one-day chart. While $12 serves as a crucial support level for the Chainlink price, the rally past the mark indicates the token’s potential upward trend. CW also pinpointed $18 as a resistance level, predicting that if Chainlink surpasses this point, it could soar to $44.
What Moves LINK Price Up?
In the latest development within the Chainlink ecosystem, the platform entered into a strategic partnership with the Abu Dhabi Global Market (ADGM) to promote tokenization in the UAE. As part of the collaboration, Chainlink and ADGM have signed an MoU to create a secure and legally sound environment for asset tokenization in financial markets.
Significantly, ADGM will provide regulatory guidance, frameworks for secure tokenization, and expertise in asset tokenization. At the same time, Chainlink will contribute its technical expertise, blockchain-based solutions, and tokenization infrastructure.
Acknowledging ADGM’s resilient infrastructure, Angie Walker, Senior Executive Officer at Chainlink Labs Abu Dhabi, stated,
Our alliance will elevate the blockchain ecosystem in the UAE, driving greater innovation and adoption. We are excited to see projects under the purview of ADGM Registration Authority adopt the Chainlink standard, enabling seamless compliance, enhanced connectivity across markets, and highly secure on-chain services.”
Chainlink Future Trends: Analyst Insights
LINK price today traded at $15.31, up 0.31% over the past day. The Chainlink price has experienced an 8.3% surge over the past week despite a monthly decline of 14%. The 24-hour trading volume, currently at $339.14 million, has seen a slight increase of 1.59%. As per a LINK price prediction, the crypto may not witness massive gains ahead based on the current trends.
Reflecting on this positive sentiment, analysts like CW foresee a major bullish upswing. Analyst Marzell provided a detailed analysis of Chainlink presenting a weekly chart. According to him, LINK is currently trading within a clear rising wedge structure, having just bounced off the 0.786 Fibonacci level at $13.55. This level is historically a strong retracement zone.
As this surge aligns with the lower trendline support, it hints at a potential continuation of the upward momentum. If this trend is sustained, the Chainlink price could hit $25.80, $32.66, and $40.70.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Pi coin, the native cryptocurrency of Pi Network, is once again facing strong selling pressure following the rejection at $1. The Pi Coin price has tanked 5% in the last 24 hours, now trading at $0.923, with daily trading volumes crashing 30.56%, slipping under $200 million. The PI token unlocks and movement to centralized exchanges (CEXs) have led to the current selling pressure.
Pi Network Native Crypto Supply on Exchange Increases
Over the last seven days, the Pi Network native crypto Pi Coin has corrected 22% after it failed to breach past $.120 levels multiple times. This has also resulted in the cryptocurrency slipping from 11th position to now at 23rd position, while losing over $13 billion in market cap over the past month.
Pi Fails To Hold $1 Mark
Pi Coin price is failing to regain $1 as PI exchange deposits have shot up in recent days. This selling pressure comes with nearly 8 million PI tokens moving to centralized exchanges (CEXs). According to market analysts, the PiCore Team (PCT) must take urgent action to stabilize the token’s value. A proposed solution involves burning 60 to 100 million coins from the circulating supply in the coming days to prevent further price depreciation.
On the other hand, the total number of PiCoins held on CEXs has surged to over 338 million. This has further led to concerns about increased sell-offs and price volatility in Pi Network.
Where’s Pi Coin Heading Next?
A recent TradingView chart by Coinvo reveals a sophisticated trading pattern for the PI/USDT trading pair on Bitget, highlighting a potential “Triple ZigZag” formation that suggests a possible market trend reversal.
This 8-hour chart shows an Elliot wave analysis. This coupled with the “Triple ZigZag” chart specifically shows a series of corrective waves (labeled A, B, C) with the most recent waves suggesting a potential upward momentum.
Coinvo noted that as Pi Network’s Pi Coin price flirts around $0.9512, there’s a potential price appreciation happening in the coming weeks. Another market analyst TraderFy has shared a bold prediction for $PI eyeing a major breakout. “$PI is about to explode! A massive falling wedge breakout is inevitable,” he wrote sharing that the immediate price targets are $2.00529 and $2.38466.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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