The Rise of Friend.tech: A New Peak in Trading Volume
Automated trading bots have been accused of taking advantage of rapid price fluctuations in the cryptocurrency market, potentially disrupting the order of transactions. Despite initial setbacks due to technical glitches and poor execution, Friend.tech has experienced a significant turnaround in recent days. According to data from Dune Analytics, the platform has seen a surge in daily trading volume, reaching almost $12.3 million. This places Friend.tech as the third most revenue-generating decentralized application (dApp) in the entire DeFi ecosystem.
Enhancements and Growing Value
Despite its initial challenges, the development team at Friend.tech has made substantial improvements to the platform. Users can now upload images, make purchases using credit cards, and explore new sections for various activities. As a result of the increased trading volume, the parent network of Friend.tech, Base, has also experienced a slight rise in total locked value. On September 9, the locked value increased by 1%, going from $385 million to $389.97 million.
Hot Take: Friend.tech Rebounds and Thrives
Despite its rocky start, Friend.tech has managed to overcome its early obstacles and reach new heights in trading volume. With significant improvements to the platform and increased user engagement, it has become one of the top revenue-generating dApps in the DeFi ecosystem. The recent surge in trading volume not only benefits Friend.tech but also contributes to the growth of its parent network, Base. As the platform continues to evolve and attract more users, it has the potential to become a major player in the crypto market.
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