Latest Data on Friend.tech: A Decentralized Social Media Platform
Friend.tech, a decentralized social media platform, is making waves in the crypto space. Here are the key points to know:
- Friend.tech contributes over 20% of the average active addresses on Base, an Ethereum (ETH) layer-2 platform
- Automated bots have secured over 21,800 keys in the last two weeks and earned $2.1 million in profits
- Bots acquire newly registered profiles cheaply and sell them at a higher price
- One bot alone acquired 96 profiles worth nearly 260 Ethereum (ETH), equivalent to roughly $600,000 in profits
- Friend.tech has generated over 500,000 transactions since launching on Aug. 10, with over 100,000 addresses and 2 million transactions
Additionally, Friend.tech has generated more than $70 million in cumulative volumes and over $300,000 in fees, resulting in a revenue of $161,000 in the past 24 hours.
Positive Reception from Industry Leaders
Friend.tech’s impact on the crypto community has not gone unnoticed by industry leaders:
- Coinbase CEO, Brian Armstrong, believes Friend.tech can play an important role in the growth and adoption of Base
- Jeremy Allaire, CEO of Circle, praises Friend.tech’s growth as a compelling use case of BusinessSocialFi
Growing Popularity and Security Concerns
While Friend.tech’s popularity continues to rise, it also faces security challenges:
- Friend.tech has over 100,000 addresses and has attracted hackers
- There were reports of a supposed hack on Aug. 21, but the platform clarified that the data retrieved was due to scraping, not a security breach
Friend.tech’s innovative approach to social media and its impact on the crypto ecosystem make it a platform to watch.
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