Friend.Tech User Dumps $1.5M in ETH for Bitcoin dApp Amid Rising Crypto Prices
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Friend.Tech user @Vombatus_eth dumped 850 ETH worth $1.5M and switched to Bitcoin dApp New Bitcoin City.
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Vombatus was one of the biggest key holders on Friend.Tech, pocketing $1.5M from selling 176 keys.
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Friend.Tech grew quickly after launch in August but growth stalled as clones emerged, like New Bitcoin City.
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New Bitcoin City launched in September, targeting social apps and letting users utilize their Bitcoin.
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New Bitcoin City's appeal comes as bitcoin prices rise 20% on hopes of a spot bitcoin ETF approval, which may drive demand.