jakiro
Author: David C, Bankless; Compilation: White Water, Bit Chain Vision Realm
Friend.tech’s highly anticipated token issuance and product transformation encountered bumps when they debuted last week.
The community is facing problems such as a defective tokens, non -functional new functions, and multiple steps claiming processes that require people to interact with new functions.As a result, its tokens fell to a low of $ 0.93, which was far from the price of $ 10 before listing.Subsequently, in a rally, the token rebounded to a local high point of $ 3.14, and the rally claimed that the controversial issuance was part of the overall Racer plan.
The current trading price of the token is about $ 1.66, and the market value is slightly higher than 155 million US dollars.On Crypto Twitter, the debate about whether Friend is still undervalued is still fierce, and the two sides have argued fiercely.
Although many factors (such as the market value of tokens compared to the speculation generated by the project), it implies huge room for rising, but the use of data tells different stories.Let’s take a look at different views!
Friend.tech is underestimated
First, let’s take a look at the situation of the bull market.
Friend’s growth depends on its close connection with Base, fair release, low market value, strong leadership and application practicality.
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Friend = Base:It can be said that it is a project that launched the Base last year. Friend can be regarded as the most “base” tokens -it is a comprehensive representative of the success of the Base Chain.It is the native currency of the most popular applications, and it is a social/consumer chain social token.At present, Base claims that they will not launch tokens that may leave space for Friend’s status growth.
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Published fairly, low market value:Friend’s market value is extremely low (about $ 155 million). The project is supported by Paradigm, one of the most famous venture capital companies in the industry, and has no retaining supply for investors.
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Racer = individual character:Most of the well -performed projects often have a strong personality, coordinating as leaders of the community.The founder of Friends.tech, Racer, specifically turns this role into a polarized network character, with both loyal supporters and blunt critics.
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The need for group group:The group’s key and the new group chat function of V2, priced at Friend, this gives the tokens a function, rather than using casual use like “voting in governance”.
These factors jointly show that Friend’s unique position in the Base Ecosystem provides a strong reason for the token.
Friend.tech is overestimated
On the other hand, the data shows that the activities on the platform have declined -obviously manifested as a decrease in the number of tokens, group creation and liquidity stagnation.
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Token transaction volume decreases:Since its launch, Friend transaction volume (prerequisite for price trend, because transaction volume indicates that the sufficient liquidity required for price increases) has shown a significant decline, which is currently about 1.5 million US dollars, while the first day is about $ 6.5 million.
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The number of group groups created decreases:The “creation of group groups” of V2’s new group chat function has fallen into stagnation.Although this may be a sign of mature groups and people who integrate into their favorite groups, it is also accompanied by the release of new functions, which may indicate that the demand for this new format is lower.
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Friend liquidity stagnation:As mentioned earlier, liquidity is essential for tokens and price trends.Although there are quite a lot of incentives to provide liquidity for FRIEND on the original Dex Bunnyswap of the Financial Times, the liquidity of the token seems to have stabilized, which may indicate the upper limit of the price trend, at least at present.
These points indicate that the decline in user activity, decrease in transaction volume, and liquidity stagnation, which shows that although Friend’s initial rebound is annoying, its valuation may be overestimated.
Build a narrative
Although Friend is undervalued, quantitative factors indicate that the tokens are overvalued.
Although Friend.tech continues to launch functions such as sharing costs, fixed groups, and new interpersonal relationship curves with directors, these functions have not increased activities.Prior to the launch of V2, Racer predicted an upgrade such as Money Clubs to manage shared treasury, collectibles on the casting chain, as well as more dynamic chat rooms with response, labeling, notifications, fixed messages, rafflers and recommendation plans.
Although the route chart has not yet been released or confirmed, Meme Clubs and Keydrop have been confirmed. If FRIENDS.TECH allows the launch of its own Memecoin on Bunnyswap, the former may become a significant surrender catalyst for Friends.tech.
All in all, the controversy about the value of Friend.tech continues.Although Friend’s position, low market value, eye -catching founders, and use cases adding groups of groups seem to be the cause of price growth, there are still problems such as decline in activity, decrease in the number of tokens, and stagnation of liquidity.
As FRIEND.TECH’s launch of new functions continues to develop, its real value may become clearer.At present, the market is a hidden gemstone or a high -risk betting for Friend.In this case, it is best to find the group you like to chat in the application and then use it.
