Friend.tech, a decentralised social media platform, faces a surge in total value locked (TVL). The amount is believed to have doubled and reached more than $20 million within the last four days, stated Cointelegraph.
Sources revealed that only two weeks ago, many critics had marked the platform as “dead” after activity on the application appeared to be fading out, Cointelegraph added.
With insights from data by Dune Analytics, a market research platform, activity on Friend.tech is believed to have experienced a resurgence over the last few days. The application is expected to have witnessed a trading volume of about $12.3 million. This might be the third-highest ever on September 9, 2023.
Furthermore, an account named Herro mentioned that “I believe FT will stick around up until a token is launched in ~5 mo. Prior to, and after that, its future will depend on the team. I believe they’ll reduce fees, increase creator revenue earned & onboard non-crypto natives in order to succeed,” Cointelegraph concluded.
(With insights from Cointelegraph)
