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.
Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension. An unwavering beacon for both seasoned adventurers and neophytes in the crypto cosmos, Noah’s insights forge a compass for informed decision-making amidst the tides of ever-evolving cryptocurrencies. With an artist’s eye for precision, he crafts a distinctive narrative, enriching the vibrant tableau of the crypto landscape.
