Social app Stars Arena, inspired by Friend.Tech, has caused a surge in transactions on the Avalanche network.
According to DappRadar, the number of unique active addresses in the ecosystem increased over the past day by 31.3% – to 10,410. The volume of transactions reached almost $2 million.
According to DeFi Llama, the locked value of assets in Stars Arena reached $1.05 million. At the time of launch on September 27, the figure was $33,000.
The number of transactions on Avalanche jumped from 790,000 to 1.2 million in less than a week.
Stars Arena, which was previously called Stars Shares, almost completely copies the functionality of its competitor. Users of the protocol can link their X account and trade tokens of other participants.
The app automatically creates a wallet into which users can deposit into AVAX.
Amid increased activity on Avalanche, the price of the blockchain’s native token rose 3.5% on the day and is currently trading at $10.02, according to CoinGecko.
According to the Dune dashboard from CryptoKoryo, Friend.Tech is the leader among SocialFi projects in all respects. In one week, the project processed 744,642 transactions worth $37.96 million.
Second place goes to Stars Arena, followed by Post.Tech on Arbitrum.
Let us remind you that the volume of transactions in Friend.Tech’s analogue on the Solana network – Friendzy – reached $920,000 a week after the launch.
Previously, ForkLog reported a hundreds-fold increase in activity on Post.Tech in the Arbitrum L2 network.
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