Avalanche’s Stars Arena Sees Surge in Transactions
The social platform Stars Arena, built on Avalanche’s Contract Chain (C-Chain), has experienced a significant increase in transactions since its launch. According to DappRadar, the platform recorded over 215,000 transactions on Monday, a substantial rise from the 16,000 daily transactions seen in late September. The transaction volume on Stars Arena also exceeded $1.7 million on Monday. The platform currently has more than 14,000 active wallets attached to it.
Similarities and Improvements
Like Friend.Tech, users on Stars Arena can link their Twitter accounts to the platform and trade profile tokens of other members. However, an active user mentioned that while they found Stars Arena superior in many ways, improvements could still be made. They highlighted the need for a stable chat function and more clarity regarding the platform’s management team.
Comparison with Friend.Tech
Although Stars Arena has gained traction since its launch, Friend.Tech remains the leader in the social platform space. According to a Dune report, Friend.Tech has 7.25 million monthly transactions and $33.4 million in weekly volume, while Stars Arena shows 691.8 thousand monthly transactions and $6.4 million in weekly volume.
Impact on AVAX Token
The increased interest in Stars Arena has positively affected the value of the AVAX token. Its value has risen from $9.21 to $10.08 since Tuesday, according to CoinMarketCap.
Blockchain Analysts’ Perspective
Blockchain analysts have taken notice of the surge in AVAX token value and attributed it to the popularity of Stars Arena. They believe that this industry is still in its early stages and that a single killer app can significantly impact usage statistics.
Not Everyone Is Impressed
While Stars Arena has garnered attention, not everyone is enthusiastic about it. Some Twitter users expressed indifference, citing concerns about screen time and the need for additional apps. However, some users admitted to eventually connecting their accounts to Stars Arena due to its fast and easy onboarding process compared to Friend.Tech.
Hot Take: Stars Arena Gains Momentum on Avalanche Network
The launch of Stars Arena on the Avalanche network has resulted in a surge of transactions and increased interest in the AVAX token. While Friend.Tech remains the dominant player in the social platform space, Stars Arena’s growth is notable. Users have praised certain aspects of the platform while also highlighting areas that require improvement. Blockchain analysts recognize the impact of a single popular app on network usage. Despite differing opinions, Stars Arena continues to gain traction as users appreciate its user-friendly onboarding process.
By
By
By
By
By