CryptoMediaClub
Tuesday, October 14, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Friend.tech Sees Revenue Boost, Regains Momentum Amid Market Skepticism.

12.09.2023
A A
0
120
VIEWS
ShareShare

Friend.tech’s revenue reached an impressive $5.6 million on September 9, marking a 30-day high for the blockchain-based social networking platform. According to Token Terminal data, this upswing indicates a regained momentum after a significant slump.

Significantly, the robust revenue stems from a consistent rise in user activity over the past two weeks. This comes despite the platform experiencing a sharp decline in initial enthusiasm post-launch on the Base blockchain. On September 9, Friend.tech registered 9,000 Daily Active Users (DAUs) and 2,000 new sign-ups. Moreover, the platform recorded a trading volume of $12.3 million, making it the third-highest trading day since its debut.

Additionally, fees collected on that same day were around $1.23 million. This is the third-highest fee-generating day for any blockchain or decentralized application (dApp) in the cryptocurrency market.

According to on-chain data, the platform executed 92,000 key trades on September 9. Meanwhile, the Total Value Locked (TVL) was an impressive $19.73 million. Since its launch, Friend.tech has successfully wooed 138,169 unique buyers into its network. Regarding market dynamics, the combined market capitalization of all its keys is $57 million. Notably, the top 250 keys alone account for a market cap of $43 million.

Friend.tech initially made waves by debuting its beta version on Coinbase’s layer-2 Base on August 11. Consequently, within 10 days, the platform’s fees skyrocketed, outperforming established players like Uniswap and even the Bitcoin network. However, this success could have been more-lived. By the end of August, the platform faced an 87% drop in daily fees and a staggering 90% decrease in transaction volume.

At its core, Friend.tech’s innovation lies in its unique “keys” feature. This allows users to buy and sell keys for sending private messages, with the platform taking a 5% commission. High-profile figures like UpOnly podcast host and renowned YouTuber Faze Banks have shown interest.

Yet, critics have dissected the platform’s rapid decline. For instance, coinbase payments risk manager Lisandro Rodriguez attributes this to a blend of “greed and poor execution.” Hence, despite the recent surge, Friend.tech still has significant challenges to overcome to maintain its regained momentum.

The post Friend.tech Sees Revenue Boost, Regains Momentum Amid Market Skepticism. appeared first on BitcoinWorld.

Share9Tweet6ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post

Coinbase Disallows New Sign-ups in India (Report)

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Apple Mac Users Warned About ‘Cthulhu Stealer’ Malware Targeting Crypto Wallets

Apple Mac Users Warned About ‘Cthulhu Stealer’ Malware Targeting Crypto Wallets

1 year ago
Bitcoin’s Uphill Battle: Bears Persist as ETF Hope Dwindles

Bitcoin’s Uphill Battle: Bears Persist as ETF Hope Dwindles

2 years ago
Bitcoin Price Swings as ECB & Börse Stuttgart Accelerate Blockchain Adoption Amid Turmoil

Bitcoin Price Swings as ECB & Börse Stuttgart Accelerate Blockchain Adoption Amid Turmoil

1 year ago
U.S. Treasury Backtracks on Claims of Hamas Using Crypto for Terrorism Financing

U.S. Treasury Backtracks on Claims of Hamas Using Crypto for Terrorism Financing

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

$2B Ethena USDe depeg exposes cracks in crypto’s ‘synthetic dollar’ system

Why Crypto Investors Are Adding Mutuum Finance (MUTM) Alongside Solana (SOL) in 2025 Portfolios

Bitcoin falters again causing $200B wipeout: Will BTC hold $110k or break to $104k?

Citibank to Launch Crypto Custody Services in 2026 After 3 Years of Preparation

California Becomes First State to Protect Unclaimed Crypto from Forced Liquidation

[LIVE] Crypto News Today: Latest Updates for Oct. 14, 2025 – Crypto Market Turns Cautious After Rebound as Whales Load Up on Massive Shorts; GameFi Leads Sector Gains

Trending

Altcoin Season Watch – MYX Pumps, Bittensor Clings to Gains, Solana Loads the Spring
All news

Altcoin Season Watch – MYX Pumps, Bittensor Clings to Gains, Solana Loads the Spring

14.10.2025
0

Altcoin season does not move uniformly. Some tokens advance on fresh participation while others offer quieter signs...

Is the Korean Kimchi Premium still front-running Bitcoin price?

Is the Korean Kimchi Premium still front-running Bitcoin price?

14.10.2025
Bitcoin Price Prediction: Big Buyers Are Back After the Crash – Explosive Rally is Starting Now

Bitcoin Price Prediction: Big Buyers Are Back After the Crash – Explosive Rally is Starting Now

14.10.2025
$2B Ethena USDe depeg exposes cracks in crypto’s ‘synthetic dollar’ system

$2B Ethena USDe depeg exposes cracks in crypto’s ‘synthetic dollar’ system

14.10.2025
Why Crypto Investors Are Adding Mutuum Finance (MUTM) Alongside Solana (SOL) in 2025 Portfolios

Why Crypto Investors Are Adding Mutuum Finance (MUTM) Alongside Solana (SOL) in 2025 Portfolios

14.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz