Cryptocurrency
Friendzone Brings Social Monetization Protocol Live On Polygon PoS For Over 5,000 Waitlisted Users

[PRESS RELEASE – Road Town, British Virgin Islands, February 27th, 2024]
Friendzone, the sustainable and scalable Web3 platform redefining Social Finance (SocialFi) on the blockchain, has officially launched on the Polygon Proof-of-Stake network. The launch of the Social Capital Marketplace is the first of many key milestones for Friendzone in its mission to become the number #1 social media dApp in the Web3 industry.
Friendzone is an entirely novel decentralized protocol that marries the engagement of traditional social media with the unique financial rewards enabled by Web3 technology, paving the way for the creation of more empowering online communities. In this way, Friendzone is much more than just another SocialFi platform. It represents a paradigm shift that not only recognizes social media presence and influence, but rewards it in tangible and monetizable ways. It promises to redefine the social media industry as a place where every interaction can potentially generate value, empowering content creators and users alike to monetize their online experiences in a seamless way.
The launch on Polygon PoS coincides with the closure of a significant funding round led by angel investors including Kain Warwick (Founder of Synthetix), Kieran Warwick (Founder of Illuvium), Danny Wilson (CFO of Illuvium), Thomas Aslanian (Product & Token Lead of Immutable), Anton Buenavista (Founding Team Pendle Finance), Jackson Chan (Co-Founder of PHD Capital) and many other incredible angels with experience at Synthetix, Pendle Finance, Bybit, Metastreet Labs and Renzo Protocol. Alongside the round, which brings Friendzone’s total amount raised to more than $750,000 USD, the startup is pleased to welcome the aforementioned investors, plus TN Lee (Co-Founder of Pendle Finance) and John Park (Partner at Sparklabs) to its growing advisory board.
Lifting SocialFi To The Next Level
Although Friendzone is competing in an increasingly crowded SocialFi space, its platform is differentiated from others through its nuanced incentive and protocol design. Friendzone is uniquely focused on overcoming the scalability and liquidity challenges that have hampered the growth of first-generation SocialFi platforms, setting it up to become the first protocol of its kind to go mainstream.
Friendzone has designed its protocol economics around an adaptive bonding curve that takes into account market feedback in real-time, ensuring that its token valuation is always fair, with continuous access for both small and large networks. Through this mechanism, it promotes sustained engagement and network growth without being constrained by the accessibility and liquidity bottlenecks that have held back alternative SocialFi protocols.
With its custom creator controls, Friendzone empowers everyone to be a creator with the ability to customize their social media activity and create tailored offerings ranging from public events to private groups, where they can set terms and prices that better reflect the value they provide. Besides the purchase and sale of its “Creator Chips”, Friendzone incorporates a staking feature into its tokenomics model that takes into account both the quantity and duration of the user’s stake. It’s inspired by Curve’s veCRV model and aims to ensure a more equitable distribution of each creator’s revenue, incentivizing network users to actively contribute to the success of every creator with a share of their rewards.
Through these novel innovations, Friendzone promises to transcend the emotional incentives of traditional social media networks by integrating powerful financial incentives enabled only with crypto, amplifying its network effects to enhance user engagement and fairly reward participation on the platform and all integrated decentralized applications existing today.
A Progressive Rollout
Friendzone has generated enormous interest prior to its launch on Polygon PoS, with more than 5,000 whitelisted users signed up. To ensure stability during its incentivized beta rollout, the protocol is capping the number of users allowed onto the network in batches of 1000. The plan is to progressively onboard more users as the project demonstrates its worth and evolves from its beta stage, where it will be closely monitored for bugs and refined to provide an optimal user experience.
The initial 1000 users selected to participate at launch can now head to X, formerly known as Twitter, to claim their Friendzone handles, which will be the same as their X handles.
During the initial launch period, Friendzone will also integrate a new points system into its protocol, enabling early adopters who beta test the product to begin accumulating points to enhance their rewards and reputations on the platform.
“We are immensely proud to launch Friendzone with the support of the Polygon ecosystem, a collaboration that marks a significant milestone in our journey. The Polygon PoS Network’s exceptional scalability, speed, and security offer the perfect foundation for Friendzone, enabling us to redefine social media engagement and monetization in the Web3 space. The commitment to innovation and the success of projects built on Polygon PoS is unparalleled. This strategic relationship is a testament to our shared vision of empowering users and creators in a disruptive decentralized digital economy.” said Kevin Lu, CEO & Co-Founder of Friendzone.
Friendzone is delighted to bring its collaboration with the Polygon ecosystem to the next level, tapping into its powerful ecosystem and leverage its expertise to explore new use cases and accelerate innovation in the SocialFi space. Friendzone is poised to unleash new dynamics and explore uncharted waters on Polygon PoS as it seeks to bring more value to users in the nascent decentralized social media industry.
The Polygon ecosystem has already distinguished itself in the blockchain arena with its strong ethos of innovation and a litany of unparalleled strategic brand collaborations, making it an ideal landing spots for Friendzone. The protocol’s integration with the Polygon network enables it to make future plans toward tapping into an innovative zkEVM-based Layer-2 architecture that will be instrumental in accelerating its growth as it scales its network and expands its user base. The Polygon networks are home to some of the most dynamic and diverse ecosystems of groundbreaking dApps and communities in the blockchain world, providing further opportunities to collaborate, innovate and bring SocialFi into the mainstream.
“Friendzone represents the first of its kind in the SocialFi space, pioneering a new era of social media that rewards engagement with real value. We are proud to have Friendzone build on Polygon PoS and to work closely with their team to achieve our mutual goals. Their innovative approach to integrating social interactions with value incentives sets a new standard in the industry. This collaboration underscores Polygon’s dedication to supporting groundbreaking projects that push the boundaries of what’s possible in Web3 and beyond.” said SungMo Park, Head of BD APAC at Polygon Labs.
Today’s launch and funding round represents the first of many milestones to come for Friendzone, laying the groundwork for a truly interoperable protocol that will provide a scalable foundation to support the monetization layer of on-chain social graphs.
About Friendzone
Friendzone is the premier social Web3 platform introducing real-time adaptive pricing and native reward distribution to ensure fair and dynamic value exchange, tailored to a creator’s reputation and community support. The platform is the first to incentivize sustained engagement and offers creators extensive control over content monetization, promoting a robust and inclusive digital circular economy at scale. Friendzone is supported by a dedicated team of core contributors and advisors from industry-leading entities such as Synthetix, Band Protocol, Koinly, Immutable, Pendle Finance, Cyball, and Sparklabs.
Join the new social Web3 era at friendzone.pro and stay up to date with all the announcements on Twitter and Discord.
Contact
Dasi Kaplan
pr@marketacross.com
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Cryptocurrency
No Price Spike, But 22,500 BTC Quietly Left Exchanges in a Single Day

Bitcoin quietly continues to move off centralized exchanges, even as its price fails to mark any gains. On a single day in early June, roughly 22,500 BTC were withdrawn from trading platforms. This is a significant figure that suggests large holders are opting to secure their assets in private wallets rather than preparing them for sale.
Despite this major outflow, BTC’s price fell in the past 24 hours toward $100,000 but has managed to post a modest recovery and now sits around $103,500.
Signs of a Quiet Bullish Setup?
According to CryptoQuant’s latest analysis, such a pattern implies that these are not speculative trades by retail investors but deliberate accumulation by institutions such as ETF providers, custodians, or over-the-counter (OTC) desks.
These players typically operate under the radar, without the fanfare often seen with retail trading activity. The lack of a corresponding price spike may indicate that the market is in a consolidation phase, where long-term conviction is quietly building. Instead of being driven by hype or rapid momentum, the current trend seems to reflect strategic positioning and growing trust in Bitcoin’s long-term value proposition.
While immediate price action may appear stagnant, the continued drawdown of exchange reserves could potentially mean that supply-side pressure is easing. Historically, this kind of supply tightening has preceded major upward moves, although with a delay.
For now, the data points to accumulation, not distribution. CryptoQuant said that the situation should not be viewed as a lull, but as a potential setup for future price appreciation. As selling pressure diminishes, the groundwork may be forming for Bitcoin’s next leg up.
“There’s no reason to panic. This chart tells us that trust in Bitcoin is still strong. Maybe the price won’t explode right away. Maybe we’re just in a waiting phase. But as selling pressure fades, opportunities become clearer.”
Bitcoin May Struggle Through Summer Turbulence
While ETF flows continue to dominate investor attention, early signs that bullish momentum appears to be fading and deeper structural indicators suggest the market may be entering a period of consolidation, as per Matrixport’s insights.
Their models, which previously supported a bullish stance, now caution that the summer may bring increased uncertainty, particularly as key US economic indicators, such as the ISM Non-Manufacturing PMI, have fallen to their lowest levels since July 2024. This decline, coupled with a weaker manufacturing PMI, points to a broader economic slowdown that markets have yet to fully price in.
Further downside risks include the potential fallout from Trump’s tariff policies and the Fed’s hesitance to cut rates amidst lingering inflation fears. While Bitcoin’s trend model remains technically bullish above $96,719, the report noted that this support level is under threat.
With bond yields stagnant and the dollar showing weakness, Matrixport sees limited room for aggressive Fed intervention. As a result, the coming months may be defined more by caution than conviction, with Bitcoin likely to trade sideways unless macro conditions stabilize.
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Cryptocurrency
Ripple v. SEC Lawsuit: Why June 16 Is Such an Important Date?

TL;DR
Ripple and the SEC face a key deadline as the lawsuit drags on without resolution.
The battle’s outcome is unlikely to cause any substantial volatility for XRP as the price now hinges on potential ETF approvals and Ripple’s business expansions.
Ripple and the SEC Remain Silent
It has been almost three months since Ripple’s CEO, Brad Garlinghouse, dropped the bomb, stating that the US Securities and Exchange Commission (SEC) would dismiss its case against the company. Despite the numerous developments that have occurred since then, however, the lawsuit has yet to reach its official conclusion.
Earlier this week, the American attorney Fred Rispoli noted that “the status update in the 2nd Circuit looms large,” and Ripple and the SEC have not moved forward with the necessary refiling.
Recall that the two sides previously agreed that the company would pay a $50 million penalty for violating certain laws (instead of the previously ruled $125 million), which would mark the end of the legal battle. However, Judge Analisa Torres denied the motion, asserting that the parties failed to file it properly under Rule 60.
Rispoli said the deadline for that is June 16, expecting the entities to abide by the rules by then. In case they don’t, the lawyer believes the magistrates could restart the briefing process and push it for another 60 days. He described Torres’ ruling as “clear” and claimed that Ripple and the SEC “need to beg for forgiveness.”
“Ripple will say whatever to get it done, but how much public groveling is the SEC willing to do? And how much groveling will be authorized? We have 12 days to find out,” Rispoli concluded.
It is worth noting that the attorney provided the update on June 4, with no major progress on the Ripple v. SEC front since then.
Other industry participants who think the following days could be crucial for the case are Bill Morgan and the X user Levi. The former argued that something has to happen by June 16, or the appeal and cross-appeal will continue. For his part, Levi predicted that the date would mark the lawsuit’s official end.
Possible Impact for XRP?
The developments surrounding the case were among the main factors triggering substantial volatility for Ripple’s native token over the past several years. Since Garlinghouse’s announcement in March, though, the lawsuit has been largely priced into XRP’s valuation.
Looking ahead, future price movements for the asset may depend on elements such as the approval of XRP ETFs or Ripple’s further advancement and possible collaborations.
Nearly a dozen well-known companies have announced their intentions to introduce the first spot XRP exchange-traded fund in the USA, with Grayscale, 21Shares, WisdomTree, and Franklin Templeton being among the examples.
Such a product will give investors an additional option to gain exposure to the asset, with many analysts viewing the potential launch as a catalyst for a price rally. According to Polymarket, the odds of approval before the end of 2025 stand at approximately 94%.
Speaking of collaborations, it is worth mentioning that in April, Ripple acquired the prime broker Hidden Road for a whopping $1.25 billion. There was also rising speculation that the company was willing to purchase the stablecoin issuer Circle for more than $10 billion, but Garlinghouse recently rejected the rumors.
Meanwhile, XRP currently trades at around $2.15, representing a 12% decline over the past two weeks.
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Cryptocurrency
On-Chain Data Signals ‘Buy the Dip’ as Bitcoin Hashrate Hits New Highs

Bitcoin (BTC) is down almost 7% from its all-time high (ATH), and on-chain signals are flashing a buying opportunity.
According to Darkfost, a pseudonymous analyst at the market intelligence platform CryptoQuant, this buy signal is coming from the Bitcoin Hash Ribbons indicator. This metric tracks the Bitcoin hashrate and is used to identify potential entry points during a market correction.
Is it Time to Buy the Dip?
The Hash Ribbon monitors Bitcoin mining activity and tells when miners are under stress or capitulating by comparing the 30-day and 60-day moving averages of the hashrate. Miner capitulation refers to a period when miners shut down their hardware and sell off their coin reserves to remain afloat because BTC has fallen below a certain price.
On most occasions, the capitulation coincides with the hashrate recovery. The hashrate metric tells how much computational power is required to solve complex math problems and approve transactions on the Bitcoin network. During this period of recovery, mining becomes more difficult.
Market experts say buying BTC during miner capitulation yields significant returns, and the best buy signals are seen during hashrate recoveries. Recently, Bitcoin’s hashrate has been reaching new highs, with the latest being 1.016 billion TH/S. The network’s mining difficulty also surged past 126 trillion during the last adjustment on May 30.
“We recently got a new buy signal from the Hash Ribbons indicator. This metric helps us assess the level of stress in the Bitcoin mining ecosystem. It’s not a big surprise considering that the hashrate has recently reached new all-time highs,” Darkfost stated.
Miners Are Selling Their BTC
Furthermore, the CryptoQuant analyst noted that the Hash Ribbon’s flashing a buy signal is a short-term negative. This is because miners selling their BTC to stay operational create long-term profitable opportunities.
Darkfost explained that the indicator has always been accurate except once, during the 2021 China mining ban event. Hence, the possibility of the metric being correct this time is high.
“Bottom line, this signal is telling you that buying the dip around here is a smart move,” he added.
The analysis comes as a solo BTC miner defied hashrate odds and beat mining giants to validate a block on the Bitcoin network, earning a reward worth over $330,000. Mining successes like this are extremely rare due to the high computational power required to approve transactions.
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