Friend.tech Gains Traction, Recur Winds Down
Aug 21, 2023
Amidst record-high bond yields, large tech stocks led market indexes higher on the week’s open. The US30Y is at its highest levels since 2011, yielding 4.46%, while the US10Y is at its highest levels since 2007, yielding 4.34%. ^SPX 0.13% (+0.15%) and QQQ (+0.71%) opened higher before retracing to nearly flat at time of writing, with tech stocks leading the majority of the open’s gains. BTC (+0.0%) and ETH (+0.1%) have also been flat over the last day after shedding 11% and 9% in the past week. New social media platform Friend.tech has captivated the attention of Crypto Twitter in the past week, elaborated on below.