Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

SocialFi tokens rally as crypto influencers bring back Friend.tech

Source Fxstreet

SocialFi tokens have seen a resurgence in prices on Monday as crypto traders revive the Friend.tech hype.
Friend.tech v2 launch is coming up after April 20, feeding the SocialFi narrative among market participants.
SocialFi tokens Theta Token, Cheelee and Galxe prices climb on Monday.

SocialFi tokens Theta Token (THETA), Cheelee (CHEEL), and Galxe (GAL) prices climbed on Monday as Friend.tech, a blockchain-based social network, is making a comeback as crypto experts and influencers discuss the platform across social media platforms like X.

SocialFi tokens see resurgence among market participants

Tokens related to Social Finance (SocialFi) projects gained value. SocialFi users create, control and own a social media platform by combining the tokenization of social influence with decentralization. SocialFi tokens offer rewards to content creators and consumers.

Among top SocialFi tokens, THETA, CHEEL and GAL have started climbing on Monday. These asset prices are up between 2% and 4%. THETA, CHEEL and GAL prices are up 3.65%, 3.08% and 2.52%, respectively. Other SocialFi tokens such as LimeWire (LMWR) and DreamMachineToken (DMT) are up 6.8% and 6.3% on the day, respectively.

The increase in these tokens’ price can be partially attributed to the rising popularity of Friend.tech, whose mentions on X have increased in the past day. Google Search trends data also shows a consistent increase in searches for the term “Friend.tech” since March 25. The protocol is set to launch V2 after 420, or April 20 in the US.

Interest

Interest over time in the term: Friend.tech

Crypto experts behind the X handle @CryptoLimbo_ and @WClementeIII discuss the resurgence of SocialFi and the Friend.tech hype in the sector. Experts believe the SocialFi narrative could garner as much traction as meme coins did earlier in the bull market.

Talks of Friendtech all over my feed again!

I told you multiple times that SocialFi hype will strike again.

Betting on $BBL too!
— Limbo (@CryptoLimbo_) April 8, 2024

Following the rally in meme coins in the past four weeks, capital is likely rotating to sectors like SocialFi amidst the Bitcoin price rally to $72,400 on Monday.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold Price Forecast: Gold Price Falls Below $4,000, PCE Data May Push Gold Down to $3,900 As of today (June 25) during the Asian session, gold ( XAUUSD) was last priced at $3,976.90, down 0.54% on the day. After gold prices fell below $4,000 yesterday, they fluctuated around $

Author TradingKey

10 hours ago

As of today (June 25) during the Asian session, gold ( XAUUSD) was last priced at $3,976.90, down 0.54% on the day. After gold prices fell below $4,000 yesterday, they fluctuated around $

Crypto market sheds over 50% of its value amid Bitcoin's brief decline below $60K The crypto market has erased more than half of its value since reaching an all-time high in late 2025. The decline underscores the severity of the recent bear market and lack of a fresh catalyst to revive investor interest, according to a Wednesday X post by The Kobeissi Letter.

Author FXStreet

17 hours ago

The crypto market has erased more than half of its value since reaching an all-time high in late 2025. The decline underscores the severity of the recent bear market and lack of a fresh catalyst to revive investor interest, according to a Wednesday X post by The Kobeissi Letter.

Gold Price Trend Forecast: Gold Price Risks Falling Below $4,000, PCE Data Is Key As of the European session today (June 24), gold prices ( XAUUSD) remained weak and fell intraday, touching an intraday low of $4,050 to hit a near two-week low, signaling clear short-ter

Author TradingKey

Yesterday 09: 11

As of the European session today (June 24), gold prices ( XAUUSD) remained weak and fell intraday, touching an intraday low of $4,050 to hit a near two-week low, signaling clear short-ter

$4,050: Gold dives to fresh two-week low as Fed rate hike bets boost US Dollar Gold (XAU/USD) drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday.

Author FXStreet

Yesterday 06: 10

Gold (XAU/USD) drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday.

WTI languishes near March lows, holds above mid-$72.00s amid easing supply concerns West Texas Intermediate (WTI) – the benchmark US Crude Oil price – consolidates during the Asian session on Wednesday and currently trades just above mid-$72.00s, near its lowest level since early March, touched the previous day.

Author FXStreet

Yesterday 01: 16

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – consolidates during the Asian session on Wednesday and currently trades just above mid-$72.00s, near its lowest level since early March, touched the previous day.

Popular Symbols