Crypto Trader Incurs $16 Million Loss on FRIEND Token Wager
The cryptocurrency landscape experienced a tumultuous period recently, with the influencer and seasoned trader Machi Big Brother enduring a substantial financial hit. The failure of the once-hyped cryptocurrency, Friend.Tech (FRIEND), resulted in a hefty $16 million deficit for him.
With unwavering confidence in FRIEND, Machi Big Brother invested a total of 5,200 ETH into the token. Valued at roughly $16.7 million at the time, this translated into approximately 11.1 million FRIEND tokens. However, with the project’s downfall, his investment’s worth plummeted drastically.
From an investment previously deemed valuable, it dwindled to a value of $0.7 million, showing an alarming devaluation of $16 million.
In a contrasting scenario, a different trader on the TRON network flipped a modest investment of $298 into a staggering $7 million, illustrating the extreme variances in fortunes that can be found within the realm of cryptocurrency trading.
This heartbreaking blow for Machi Big Brother with Friend.Tech was not his initial loss. He had been actively acquiring the token since May and, as early as June, found himself confronting a $7.9 million loss out of an initial investment of $15.6 million. This latest downturn further deepened his financial distress, highlighting the high-stakes and unpredictable world of investing in digital currencies.
Also Read: Friend.tech Token Falls 27% After Smart Contract Transfer
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