FRIEND (Friend.tech) rose 55.51% in 24 hours.

Gate News Bot news, on August 28, according to CoinMarketCap data, as of the time of writing, FRIEND (Friend.tech) is currently priced at 0.16 USD, having risen 55.51% in the last 24 hours, reaching a high of 0.26 USD and a low of 0.06 USD, with a 24-hour volume of 27,700 USD.

FRIEND recent important news:

1️⃣ The development team has relinquished control over the smart contract The Friend.tech project development team recently announced that they have relinquished control over the smart contracts, transferring them to a null address. This decision was made due to stagnation in project growth. This move means that the project will be completely decentralized, but it may also affect future updates and maintenance.

2️⃣ FRIEND token price fluctuates significantly With the news of the development team relinquishing control, the price of the FRIEND token experienced significant volatility. In a short period, the token price dropped by about 26-28%, reflecting the market’s concerns about the future development of the project.

3️⃣ The project is facing a trust crisis The Friend.tech project team has recently faced accusations of “running away,” which has severely affected the community’s confidence in the project. Although the team has taken decentralization measures, the long-term development prospects of the project remain unclear.

The significant rise in the price of FRIEND tokens may be a technical rebound from the previous decline, or it may reflect speculation by some investors on the potential opportunities after the project’s decentralization. However, given the challenges the project faces, there is still a high level of uncertainty in the market.

This message is not intended as investment advice; investors should be aware of market volatility risks.