Trading Volume On Social App PostTech Crosses $5M – Crypto News – Crypto News
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Trading Volume On Social App PostTech Crosses $5M Trading Volume On Social App PostTech Crosses $5M

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Trading Volume On Social App PostTech Crosses $5M – Crypto News

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2 years ago

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PostTech Attempts To Enter Hot SocialFi Arena With Combination Of Twitter’s Website and FriendTech’s Trading Features

Anything that works in crypto is bound to attract copycats.

After the recent success of friend.tech, social media users are now flocking to PostTech, which has seen over $5M in trading volume in the past day and a half, according to a Dune Analytics dashboard. Concurrently, user count has rocketed past 30,000 from just 733 on Sept. 16.

PostTech Users

A major difference between PostTech and friend.tech is that trading fees are shared evenly between creators and holders, instead of accruing to the platform.

the-defiant

Users can earn ETH by buying, selling, and trading shares, as well as creating content on the platform, and can earn points by performing a variety of other activities

PostTech appears to be the first application to pose a meaningful challenge to friend.tech’s breakaway success. Indeed, the SocialFi app that has captivated crypto over the past month saw its first net outflow of ETH in 20 days.

friend.tech ETH flows chart
friend.tech ETH flows

It also seems like friend.tech isn’t the only application that deeply inspired Post Tech’s design — the newcomer looks nearly identical to X (formerly Twitter).

the-defiant
A PostTech Profile

Post Tech’s developers chose to deploy on Arbitrum, the leading Ethereum Layer 2 by TVL, while friend.tech chose Coinbase’s recently launched Base, which has seen activity drop from a record 21 transactions per second (TPS) on Sept. 14.

the-defiant
Base Throughput
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