Friend.Tech Resurgence: Total Value Locked Reaches $40M
Wednesday, 10 April 2024, 13:30
Friend.Tech Redemption
Friend.Tech is attempting a significant comeback, with its total value locked (TVL) soaring to an impressive $40 million.
Reasons Behind Resurgence
- Inflows of over $8 million last week sparked a TVL surge of over 25% in the past seven days.
- Daily fees topping $750,000 and the minting of a record 1,880 keys in a day signify a positive trend.
- Anticipation around the launch of Friend.Tech v2 after April 20 is driving further interest and engagement.
Challenges and Recovery
- Historically, Friend.Tech experienced glory but suffered a decline, losing user activity and facing security concerns.
- Issues included a drastic drop in fees and new users, coupled with scammer attacks and phishing incidents.
Despite challenges, the platform's recent resurgence paints a promising picture for its future.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.