#Crypto_Jobs๐ฏ
Project Status:
Friend.tech, a once-prominent SocialFi platform, has experienced significant changes. In September 2024, the development team relinquished control over the platform's smart contracts by transferring administrative rights to a null address. This move effectively made the protocol immutable, preventing any future modifications or fee collections by the original creators.
This decision led to widespread speculation about the project's future, with some community members interpreting it as an abandonment. The platform's native token, FRIEND, saw a significant drop in value following the announcement.
Market Performance:
The FRIEND token has experienced substantial volatility. After reaching an all-time high of $3.26 on May 3, 2024, the token's value has declined sharply. As of June 2, 2025, the price stood at approximately $0.0357, marking a significant decrease from its peak.
Investor Considerations:
Liquidity Concerns: The platform's diminished activity and the team's withdrawal have raised concerns about the token's liquidity and long-term viability.
Market Sentiment: The broader crypto community remains cautious, with many investors wary of the project's future prospects given the recent developments.
Conclusion:
While Friend.tech was once a notable player in the SocialFi space, recent events have cast doubt on its sustainability. Investors should exercise caution and conduct thorough research before making any decisions related to the FRIEND token.$FDUSD