{"id":290226,"date":"2024-04-26T11:22:39","date_gmt":"2024-04-26T05:52:39","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=290226"},"modified":"2024-04-26T11:22:39","modified_gmt":"2024-04-26T05:52:39","slug":"friendtech-sees-renewed-interest-ahead-of-anticipated-airdrop-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/friendtech-sees-renewed-interest-ahead-of-anticipated-airdrop-crypto-news\/","title":{"rendered":"FriendTech Sees Renewed Interest Ahead Of Anticipated Airdrop – Crypto News"},"content":{"rendered":"

<\/p>\n

The SocialFi sector is buzzing as Farcaster and Lens Protocol also show a flurry of activity.<\/p>\n

\n

Community-based protocols are staging a comeback.<\/p>\n

After months in the doldrums, SocialFi platform FriendTech<\/a> saw a $7.4 million inflow and more than 40,000 transactions on April 8, both the highest<\/a> since Oct. 2023. In 2024, the platform averaged less than $400,000 in daily inflows.<\/p>\n

FriendTech points are changing hands for $6, according to OTC platform WhalesMarket<\/a>.<\/p>\n

FriendTech points traded on Whales Market<\/figcaption><\/figure>\n

A resident of Coinbase\u2019s popular Base<\/a> chain, FriendTech\u2019s increased activity seems to be in anticipation of the platform\u2019s V2 iteration, expected to go live later this month with a potential airdrop. The total value locked (TVL) on the platform has also risen by a third to $40 million in April.<\/p>\n

\"FriendTech
FriendTech TVL<\/figcaption><\/figure>\n

SocialFi<\/a> refers to the intersection of social media and blockchain, and is a branch of the crypto ecosystem focused on building community-oriented social platforms, much like Twitter By utilizing elements of DeFi, SocialFi platforms allow anyone to monetize themselves through peer-to-peer transactions, creating a new open layer for a creator-based economy.<\/p>\n

Farcaster and Lens Activity Rises<\/h2>\n

FriendTech isn\u2019t the only SocialFi platform that has seen a resurgence in activity.<\/p>\n

Farcaster usage spiked<\/a> in early February after the platform launched its flagship Frames feature, which allows users to embed interactive experiences, such as NFT mints, in their posts. Since then, the platform witnessed a slump until March 23, when it began to buck the trend.<\/p>\n

The Optimism<\/a>-based platform hit an all-time high in terms of posts, also known as Casts. These reached a record high of 50,732 on April 5, accompanied by a peak in terms of reactions to casts, notching up 56,205.<\/p>\n

\"Farcaster
Farcaster Daily Users<\/figcaption><\/figure>\n

Users have been flocking in droves to Farcaster, which has showcased a 3,000% growth rate since launching Frames, soaring from 10,000 daily users in late January to 300,343 on April 10.<\/p>\n

Lens<\/a> is another SocialFi platform showing renewed signs of interest.<\/p>\n

However, Lens protocol isn\u2019t adding signups, as shown by a stagnant chart of new profiles created. A Dune dashboard<\/a> exhibits a flurry of activity from the already existing Lens user base. Interacting users has been somewhat volatile but can be seen in a strong uptrend since early February.<\/p>\n

\"Lens
Lens Interacting Users<\/figcaption><\/figure>\n

Publications jumped from 16,077 on March 31 to 29,079 on April 9, and reactions have been trending higher, hitting an all-time high on April 5, when the figure pierced the 123,000 mark.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The SocialFi sector is buzzing as Farcaster and Lens Protocol also show a flurry of activity. Community-based protocols are staging a comeback. After months in the doldrums, SocialFi platform FriendTech saw a $7.4 million inflow and more than 40,000 transactions on April 8, both the highest since Oct. 2023. In 2024, the platform averaged less […]<\/p>\n","protected":false},"author":2,"featured_media":290227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-290226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=290226"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290226\/revisions"}],"predecessor-version":[{"id":290229,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290226\/revisions\/290229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/290227"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=290226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=290226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=290226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}