Huo Xing Cai Jing reports that on August 27, according to TradingBeats (formerly Hyperinsight), Ma Ji previously invested 5,200 ETH to purchase FRIEND tokens, whose value has since dropped to just $5 million. Today, he proposed acquiring Friendtech for $10 million and relaunching the protocol. This caused FRIEND to surge 15-fold in the short term. On-chain data shows that five days ago, he transferred 11 million FRIEND tokens to wallet 0x3205. However, as of press time, he has not yet sold the transferred tokens.
Maji Transfers $500,000 Worth of FRIEND Tokens Before Announcing $1 Million Acquisition Bid
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Summary
Five days ago, Maji transferred $500,000 worth of FRIEND tokens to wallet 0x3205, according to on-chain data. He later announced a $1 million bid to acquire Friendtech, causing the token to surge 15x in short-term trading. The tokens remain unsold. Altcoins to watch often exhibit sharp price movements following significant on-chain activity.
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