Close Menu
Cryprovideos
    What's Hot

    ETH Continues the Momentum as Nexchain Enters Stage 17 of Presale

    June 6, 2025

    Polymarket Proclaims Partnership with X

    June 6, 2025

    Elon Musk Says Donald Trump is within the Epstein Information: Right here is the Reality Behind the Insanity – BlockNews

    June 6, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Crypto News»Decentralized Social Media Platform Collapses, Leaving Traders Surprised
    Decentralized Social Media Platform Collapses, Leaving Traders Surprised
    Crypto News

    Decentralized Social Media Platform Collapses, Leaving Traders Surprised

    By Crypto EditorApril 7, 2025No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Phaver, as soon as a promising participant within the decentralized social media area, has unexpectedly shut down following a catastrophic drop in its native token’s worth.

    SOCIAL, the platform’s token, has plunged by over 99% since its Token Technology Occasion (TGE) in September 2024, successfully wiping out Phaver’s momentum and group involvement.

    The platform, designed to bridge the Lens and Farcaster ecosystems, initially attracted appreciable consideration, boasting 35,000 each day customers and greater than 800,000 downloads. At one level, it generated half of all Lens visitors and a fifth of Farcaster’s. Nonetheless, regardless of its fast rise, the venture couldn’t maintain itself.

    DeFi analyst Ignas mirrored on Phaver’s downfall, pointing to flawed technique and monetary mismanagement. He expressed disappointment over the shutdown, particularly given the platform’s formidable integration of Lens and Farcaster.

    The token launch itself was problematic, marred by technical glitches that delayed consumer entry to tokens, fueling mistrust and detrimental sentiment. These early setbacks set the stage for ongoing challenges.

    Financially, the platform struggled regardless of securing $8 million in funding from main backers, together with Polygon Ventures and Nomad Capital. Phaver additionally spent over $1 million to checklist SOCIAL on centralized exchanges like Bybit, KuCoin, and Gate.io, however buying and selling volumes fell wanting expectations. A crucial mistake was the choice to withhold token gross sales throughout heightened FUD, leaving the venture underfunded.

    One former group member acknowledged the error, explaining that the hesitation to promote tokens, pushed by worry of worsening the market sentiment, ended up costing the corporate its monetary stability.

    As a Finnish firm, Phaver additionally confronted authorized obligations to compensate workers with a compulsory discover interval, which additional drained its restricted assets. Regardless of the shutdown, SOCIAL nonetheless technically trades on some exchanges, however its worth has practically vanished, leaving each customers and buyers in disbelief.

    Decentralized Social Media Platform Collapses, Leaving Traders Surprised

    Telegram





    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Prime Crypto Presale Initiatives 2025: Nexchain, Web3 AI & BlockDAG

    June 6, 2025

    Finest Crypto Presale? Finest Pockets Token Raises $13 Million for Web3 Ecosystem – CryptoDnes EN

    June 6, 2025

    Breaking: Apple Exploring Crypto Integration

    June 6, 2025

    Trump Media submits new SEC submitting to buy $2.3B Bitcoin reserve

    June 6, 2025
    Latest Posts

    Bitcoin May Break The Greenback — $250K Prediction Nonetheless In Play, Billionaire Says

    June 6, 2025

    Bitcoin Layer 2: Ark

    June 6, 2025

    Might Labor Market Shock Overtake Inflation as Bitcoin’s Subsequent Macro?

    June 6, 2025

    New BTC Layer 2 ICO ‘Bitcoin Hyper’ Raises $500K – Finest New Cryptocurrency to Purchase?

    June 6, 2025

    Bitcoin Cycle Prime Is In—$270,000 Delayed Till 2026, Says Analyst

    June 6, 2025

    Trump Media submits new SEC submitting to buy $2.3B Bitcoin reserve

    June 6, 2025

    Palantir Is Violating Its Personal Rules By Avoiding A Bitcoin Treasury

    June 6, 2025

    Michael Saylor’s Technique ups Bitcoin wager with $1B inventory providing

    June 6, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    World Stablecoin Provide Might Hit $1 Trillion by 2025, Boosting Crypto Development

    March 30, 2025

    Coinbase CEO Sees Crypto Dominating 10% Of The World's Economic system By 2030

    February 15, 2025

    President Trump’s World Liberty Monetary Sends $307,410,000 in Crypto to Coinbase Prime: On-Chain Knowledge – The Every day Hodl

    February 5, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

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