Stars Arena: A Blockchain-Based Social App on Avalanche’s C-Chain Network
A blockchain-based social application called Stars Arena is experiencing a significant surge in transaction volume on Avalanche’s C-chain network. Launched at the end of September, this social protocol, inspired by FriendTech on Base, has quickly gained popularity among users.
Stars Arena Leads in Daily Active Users
Stars Arena, previously known as StarShares, has emerged as a frontrunner in daily active users, surpassing other decentralized applications (dapps) on the Avalanche network. According to DappRadar, over 10,000 unique active wallets interacted with Stars Arena within 24 hours.
Rapid Growth and Value Locked
Within two weeks of its launch, Stars Arena reported a total value locked above $1 million, as per DeFiLlama data.
Increase in Avalanche Transactions
Transactions on Avalanche have experienced a significant uptick since the launch of Stars Arena. The number of transactions jumped from 158,000 on September 20 to over 250,000 by October 3, according to The Block’s Data Dashboard.
SocialFi Trend and Stars Arena Features
Stars Arena is part of the broader SocialFi trend that began with FriendTech on Coinbase’s Base Layer 2 blockchain. Similar clone projects like PostTech on Arbitrum and Friendzy on Solana have also emerged. These platforms allow users to trade tokens associated with social media influencers and gain exclusive access to interact with them.
Mirroring FriendTech features, Stars Arena enables users to link their Twitter accounts and buy or sell profile tokens of other users using Avalanche’s native asset AVAX. The app automatically creates a wallet for users to deposit AVAX and start utilizing the service.
FriendTech Dominates SocialFi Niche
Currently, FriendTech remains the largest project in the SocialFi niche in terms of daily volume and revenue, according to on-chain data aggregated by CryptoKoryo on Dune Analytics.
Rise in AVAX Price
As transactions on Avalanche increase, the price of AVAX has also risen. CoinGecko data shows that AVAX has seen a 6.8% increase for the day, currently trading at $9.95.
Hot Take: Stars Arena Drives Avalanche’s Growth in SocialFi
The blockchain-based social app Stars Arena is making waves on Avalanche’s C-chain network, attracting a large number of active users and increasing transaction volume. With its unique features and integration with Twitter, Stars Arena allows users to trade tokens and engage with social media influencers. As part of the broader SocialFi trend, Stars Arena joins other clone projects in providing exclusive access to influencers. The success of Stars Arena reflects the growing interest in blockchain-based social applications and their impact on cryptocurrency networks like Avalanche. The rise in transactions has also positively influenced the price of AVAX, demonstrating the strong connection between user engagement and market performance.
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