FRIEND Soars Over 1,500% on Machi Big Brother’s $1M Friend.tech Buyout Offer
Web3 social community Friend.tech’s native token FRIEND surged greater than 1,500% at this time. The rally adopted a $1 million buyout provide from Machi Big Brother.
The proposal targets a social app whose authentic workforce relinquished management over its good contracts roughly 2 years in the past.
Why Is FRIEND Token Up Today?
Friend.tech launched on Base in 2023 and peaked quick. The platform’s token opened up for buying and selling in May 2024.
FRIEND hit an all-time high of $3.26 on May 3, 2024, per CoinGecko. BeInCrypto reported that in September, the founding workforce transferred the admin and possession parameters to a null handle.
The wider SocialFi sector had already thinned out by then. Farcaster, Lens, and Friend.tech all shed customers via late 2024.
FRIEND stored sliding and hit an all-time low of $0.00002225 in July 2026. It now trades close to $0.051 after Thursday’s 1,590% soar.
Market cap climbed to $4.89 million, up from beneath $300,000. The altcoin’s buying and selling quantity hit $5,627,502 over 24 hours, a 100,823.30% soar from yesterday.
Machi Big Brother Offers $1M for Friend.tech
The surge in exercise could be traced to an offer from Machi Big Brother, the pseudonym of Taiwanese-American high-profile dealer Jeffrey Huang. In an X publish, Huang supplied to purchase out Friend.tech for $1 million. He described a slim scope for the deal.
“I simply want the X account and URL,” he said.
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Huang had beforehand taken a major place in FRIEND, linking him carefully to the token’s fortunes. He purchased 11 million FRIEND for roughly 5,200 Ethereum (ETH), in keeping with Lookonchain. His holdings have been price about $500,000 after the token’s collapse.
“He has misplaced over $16M on FRIEND,” Lookonchain noted.
On-chain knowledge additionally exhibits he despatched all 11 million tokens to pockets 0x3205 5 days earlier. The bid arrives whereas Machi runs heavy leverage elsewhere.
The dealer is well-known for his highly leveraged trades and frequent liquidations. Arkham puts his portfolio at $12.06 million, with $11.61 million in open positions.
He holds a 24,100 ETH lengthy at 25x leverage and a 499 BTC lengthy at 40x leverage. A 199,000 HYPE lengthy at 10 instances rounds out the ebook.
Those three trades carry a mixed notional worth of almost $117 million. They present $2.5 million in unrealized revenue, whereas his all-time revenue and loss (PNL) sits at unfavorable $24.72 million.
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The publish FRIEND Soars Over 1,500% on Machi Big Brother’s $1M Friend.tech Buyout Offer appeared first on BeInCrypto.
