Crypto staking platform Freeway has announced that it had paused withdrawal services.
Freeway cited volatility in the crypto and forex markets that had sent its token into a free-fall.
Since the announcement, the Freeway (FWT) token has sunk close to 80%.
Freeway was a relatively small project, with a market cap of less than $70 million.
Due to the crash, Freeway’s market cap is now at $10 million at current trading prices.
While Freeway boasts of $160 million in total value locked, on-chain data suggests that the majority of the largest of the 4,342 token holders received it during an airdrop and were otherwise idle.
Unconfirmed reports also have it that the administrator of the Freeway website is in the process of deleting team names from the page.
