TechFlow reports, according to on-chain analyst Yujin's monitoring, Racer, co-founder of friend.tech, is preparing to migrate friend.tech from the Base chain to another blockchain, causing the $FRIEND price to drop by 30%.
Since its launch, Edison Chen has consistently bought $FRIEND, rising to become the top buyer. However, he is now facing a paper loss of $7.95M (52%) on FRIEND: Starting from May 3rd, Edison Chen has continuously purchased FRIEND, spending a total of 4,873 ETH ($15.35M) to acquire 8.048 million FRIEND tokens, resulting in an average cost of $1.90 per token. The current price of FRIEND is only $0.92.
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