Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

‘Bond King’ Jeffrey Gundlach calls a catalyst who can cause an interest rate this year

2025-05-11

DAC and Origo Partner to transform health care via Web3 Innovation

2025-05-11

XRP -price flashes Death Cross from 2017 that could activate 325% Rally to $ 9

2025-05-11
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    DAC and Origo Partner to transform health care via Web3 Innovation

    2025-05-11

    Tether to make non-right wallet template: Details

    2025-05-11

    Map -Protocol reveals revolutionary interoperability between Bitcoin and Solana networks

    2025-05-11

    DAC -Platform to redefine Web3 experiences in strategic cooperation with Fishcake Labs

    2025-05-11

    Floki Inu enables Web3 users with a new identity platform

    2025-05-11
  • NFT

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05

    Pudgy Penguins #6873 Leads with Top NFT -sale worth $ 360.2k

    2025-05-04
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Standard Chartered Analy supports Bitcoin -Price forecast, now calls $ 120,000 BTC ‘Too Low’: Report

    2025-05-11

    Bullish Continuation for XRP price shows possible recovery up to $ 4

    2025-05-11

    Top US Crypto Exchange Coinbase to acquire Derivativa Platform Deribit

    2025-05-10

    Bitcoin – Price is rising by $ 100k – Bull Market officially back?

    2025-05-10

    JPMorgan Chase warns US shares ‘Not a good place to verbat’ as billionaire Paul Tudor Jones Braces for fresh market Lows

    2025-05-10
  • Learn

    What Is Proof-of-Authority (PoA)?

    2025-05-10

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02

    What Is a Layer-0 Protocol?

    2025-05-02
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Analysis»Friend Tech faces continued sniper bot issue, pushing price of popular creators before shares hit market
Analysis

Friend Tech faces continued sniper bot issue, pushing price of popular creators before shares hit market

2023-09-11No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Friend Tech (FT), the web3 social token platform that saw a resurgence in user activity recently, has seen an increase in “sniper bots,” which have been causing significant shifts in share prices.

According to a detailed analysis performed by  X user @unexployed_ of Castle Capital, these bots, beyond their normally expected functionality, are deploying a technique of ‘sniping’ to gain control over high-value profile shares.

In the case of DappRadar’s recent registration on FT, Unexployed revealed that the share prices started at an unusually high point of 0.26 ETH. This was not triggered by a registered account but seemingly by a sniping address interacting directly with the smart contracts, demonstrating the influence of these bots on the market.

Digging deeper into basescan.org, Unexployed was able to trace the chronological order of buyers and sellers. Within the first four blocks, there were already 65 shares on the market. And DappRadar was not alone. Other entities, such as Moonshilla and Rektdiomedes, also faced a similar situation where snipers gained immediate control over their FT supply.

The primary sniper, identified as 0x081…951, executed over 20,000 transactions to acquire the shares. The first 46 transactions failed with the error “Fail with error ‘Insufficient payment” and were reverted, according to Basescan.

A CryptoSlate analysis of the transactions revealed that the account attempted to purchase the shares before the owner of the account had purchased the first share (a requirement of FT.) The transaction log states Fail with the error, “Only the shares’; subject can buy the first share”

basescan
Source: Basescan

Such spamming behavior was already evident during the first week of FT. According to Bert Miller from Flashbots, spamming the chain and mempool leaks are key factors leading to this phenomenon.

See also  CME Group Eyes can launch for XRP Futures -Product

The sniper’s massive control over the supply allowed them to earn a profit of 1.84 ETH by selling their shares. However, the bot’s actions led to a significant reduction in supply, and another sniper incurred a loss of 0.5 ETH, illustrating the competitive nature of these bots.

In the wake of these revelations, concerns are being raised about the fairness of the platform for individual users and high-value profiles. Unexployed suggests FT should consider solutions such as allowing creators to purchase more of their shares upon registering to mitigate the effects of these bots.

FT resurgence in user activity.

It’s clear that despite the drastic drop in initial hype and challenges with ‘sniper bots,’ the platform is making considerable strides. The revenue surged to $5.6 million on Sept. 9, showcasing a 30-day high for the blockchain-based social network.

The revenue spike was propelled by consistent growth in use over the previous two weeks, which is an encouraging sign in light of the substantial decrease in initial excitement that followed after its launch.

The platform’s daily active users tally reached 9,000, with 2,000 new sign-ups recorded on Sept. 9. The same day witnessed a trading volume of $12.3 million, positioning it as the third-highest trading day since its inception. Furthermore, FT collected fees amounting to $1.23 million, making it one of the highest fee-generating days for any dApp in the crypto market.

However, the rise in ‘sniper bots’ has been causing significant shifts in share prices, with the impact unidentified at this time.

It’s worth noting that FT’s beta version made quite a splash when it debuted on Coinbase’s layer-2 Base on Aug. 11. Within ten days, the platform’s fees skyrocketed — surpassing Uniswap and the Bitcoin network. Despite this short-lived success, FT is clearly demonstrating resilience and adaptability in the face of challenges.

See also  According to analytics firm Kaiko, aggressive bull market speculation on Ethereum has not yet begun

As the phenomenon of increasing bots on FT unfolds, it remains to be seen how it will respond to the bot activity.



Source link

bot continued Creators Faces Friend hit Issue market Popular Price Pushing Shares Sniper Tech
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Price Watch: Miners show strength, but lungs are in danger – why?

2025-05-11

Bitcoin Bulls Beware! – This price can be a high -leverage false door

2025-05-11

What is the next step for Bitcoin, XRP, Ethereum and Solana Price?

2025-05-11

Standard Chartered Analy supports Bitcoin -Price forecast, now calls $ 120,000 BTC ‘Too Low’: Report

2025-05-11
Add A Comment

Comments are closed.

Top Posts

SHIB overtakes PEPE, raises rally hopes, but investors shouldn’t celebrate just yet

2023-05-16

Bitcoin ETFs soar toward $10 billion in three days despite slow start

2024-01-17

Pudgy Penguins and Their Growth Amid Crypto Winter

2023-11-01
Editors Picks

Will Bitcoin Reach $67,000 As Major Liquidation Levels Loom?

2024-10-09

Ethereum – Price is Beerarish under $ 2,000 – More losses forward?

2025-03-11

An exciting time for Ethereum

2024-07-09

SEC Crypto Task Force Live-Streaming Roundtable to find ‘solution’ for Genler’s Legacy

2025-03-04
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

‘Bond King’ Jeffrey Gundlach calls a catalyst who can cause an interest rate this year

DAC and Origo Partner to transform health care via Web3 Innovation

XRP -price flashes Death Cross from 2017 that could activate 325% Rally to $ 9

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$104,291.561.06%
  • ethereumEthereum(ETH)$2,509.850.59%
  • tetherTether USDt(USDT)$1.000.04%
  • rippleXRP(XRP)$2.37-1.99%
  • binancecoinBNB(BNB)$651.65-0.47%
  • solanaSolana(SOL)$172.33-0.27%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.230565-2.60%
  • cardanoCardano(ADA)$0.81-1.20%
  • tronTRON(TRX)$0.2641621.17%
  • suiSui(SUI)$4.020.65%
  • chainlinkChainlink(LINK)$16.930.22%
  • avalanche-2Avalanche(AVAX)$24.66-1.10%
  • stellarStellar(XLM)$0.307497-0.31%
  • shiba-inuShiba Inu(SHIB)$0.000016-0.71%
  • hedera-hashgraphHedera(HBAR)$0.205259-3.49%
  • the-open-networkToncoin(TON)$3.35-0.96%
  • hyperliquidHyperliquid(HYPE)$24.89-1.80%
  • bitcoin-cashBitcoin Cash(BCH)$409.79-2.73%
  • polkadotPolkadot(DOT)$5.09-0.14%
  • piPi(PI)$1.1250.88%
  • unus-sed-leoUNUS SED LEO(LEO)$8.37-1.90%
  • litecoinLitecoin(LTC)$99.88-3.77%
  • moneroMonero(XMR)$340.206.19%
  • bitget-tokenBitget Token(BGB)$4.870.16%
  • pepePepe(PEPE)$0.0000131.10%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • uniswapUniswap(UNI)$6.90-0.09%
  • bittensorBittensor(TAO)$452.680.16%
  • nearNEAR Protocol(NEAR)$3.130.39%
  • aptosAptos(APT)$5.870.77%
  • aaveAave(AAVE)$219.49-2.46%
  • okbOKB(OKB)$55.130.10%
  • ondo-financeOndo(ONDO)$1.03-3.38%
  • internet-computerInternet Computer(ICP)$5.712.09%
  • kaspaKaspa(KAS)$0.1160447.20%
  • ethereum-classicEthereum Classic(ETC)$19.81-1.40%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.78-3.55%
  • render-tokenRender(RENDER)$5.20-2.15%
  • gatechain-tokenGateToken(GT)$21.85-1.99%
  • mantleMantle(MNT)$0.802.84%
  • vechainVeChain(VET)$0.031089-0.70%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.255764-2.63%
  • crypto-com-chainCronos(CRO)$0.098208-3.02%
  • ethenaEthena(ENA)$0.4071324.21%
  • arbitrumArbitrum(ARB)$0.451708-0.44%
  • usd1World Liberty Financial USD(USD1)$1.000.01%
  • filecoinFilecoin(FIL)$3.15-0.23%
  • cosmosCosmos(ATOM)$5.291.95%
  • bitcoinBitcoin(BTC)$104,291.561.06%
  • ethereumEthereum(ETH)$2,509.850.59%
  • tetherTether USDt(USDT)$1.000.04%
  • rippleXRP(XRP)$2.37-1.99%
  • binancecoinBNB(BNB)$651.65-0.47%
  • solanaSolana(SOL)$172.33-0.27%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.230565-2.60%
  • cardanoCardano(ADA)$0.81-1.20%
  • tronTRON(TRX)$0.2641621.17%
  • suiSui(SUI)$4.020.65%
  • chainlinkChainlink(LINK)$16.930.22%
  • avalanche-2Avalanche(AVAX)$24.66-1.10%
  • stellarStellar(XLM)$0.307497-0.31%
  • shiba-inuShiba Inu(SHIB)$0.000016-0.71%
  • hedera-hashgraphHedera(HBAR)$0.205259-3.49%
  • the-open-networkToncoin(TON)$3.35-0.96%
  • hyperliquidHyperliquid(HYPE)$24.89-1.80%
  • bitcoin-cashBitcoin Cash(BCH)$409.79-2.73%
  • polkadotPolkadot(DOT)$5.09-0.14%
  • piPi(PI)$1.1250.88%
  • unus-sed-leoUNUS SED LEO(LEO)$8.37-1.90%
  • litecoinLitecoin(LTC)$99.88-3.77%
  • moneroMonero(XMR)$340.206.19%
  • bitget-tokenBitget Token(BGB)$4.870.16%
  • pepePepe(PEPE)$0.0000131.10%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • uniswapUniswap(UNI)$6.90-0.09%
  • bittensorBittensor(TAO)$452.680.16%
  • nearNEAR Protocol(NEAR)$3.130.39%
  • aptosAptos(APT)$5.870.77%
  • aaveAave(AAVE)$219.49-2.46%
  • okbOKB(OKB)$55.130.10%
  • ondo-financeOndo(ONDO)$1.03-3.38%
  • internet-computerInternet Computer(ICP)$5.712.09%
  • kaspaKaspa(KAS)$0.1160447.20%
  • ethereum-classicEthereum Classic(ETC)$19.81-1.40%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.78-3.55%
  • render-tokenRender(RENDER)$5.20-2.15%
  • gatechain-tokenGateToken(GT)$21.85-1.99%
  • mantleMantle(MNT)$0.802.84%
  • vechainVeChain(VET)$0.031089-0.70%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.255764-2.63%
  • crypto-com-chainCronos(CRO)$0.098208-3.02%
  • ethenaEthena(ENA)$0.4071324.21%
  • arbitrumArbitrum(ARB)$0.451708-0.44%
  • usd1World Liberty Financial USD(USD1)$1.000.01%
  • filecoinFilecoin(FIL)$3.15-0.23%
  • cosmosCosmos(ATOM)$5.291.95%