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New Social App Takes Crypto By Storm, Overtakes Bitcoin and Ethereum

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By Augustine Mbam - - 5 Mins Read
3D cartoon camera, blue background
| friendtech/X

 

3D cartoon camera, blue background
| friendtech/X

 

 

There is a popular new trend in the world of cryptocurrency that is expected to last throughout the summer. The Friend.tech app has gained significant attention and is being explored by many prominent crypto influencers and traders. It is quickly becoming a favorite among crypto enthusiasts.

 

Friend.tech is one of the new crypto social media apps serving a great initiative. Here, many people can interact with each other like they are in social settings. But there's a catch here. 

 

The Friend app is a unique blend of blockchain, social media, and financial markets. It stands apart from regular social media apps where you simply post and interact. The Friend app takes things to the next level.

 

Friend.tech is a social media platform that uses tokens and allows users to purchase and hold shares of other users' profiles. Essentially, a user's profile on this platform functions like a share in the stock market.

 

When it comes to stocks, some can lead to profits while others may result in losses. Similarly, on this new platform, certain profiles may offer shares that can lead to profits, while others may not. However, it's important to remember that this is not the main focus.

 

This new cryptocurrency project is reaching unprecedented heights, surpassing even Bitcoin and other leading cryptocurrencies. It's hard to imagine a cryptocurrency project that could surpass Bitcoin and other top cryptocurrencies, but the hype surrounding this one is very real.

Friend.tech Growth Takes New Angle 

The crypto project has gained significant recognition in the industry, marking an unprecedented milestone for the crypto community. It has rightfully earned a high-profile status and has emerged as a strong contender in the market. Its success is evident from the significant share it has acquired in the transaction fees.

 

 

Friend.tech app transaction fees and revenue graph
Friend.tech app transaction fees/revenue graph | defillama.com

At one point, this crypto project was only second to Ethereum in terms of fees generated. In other words, at that moment, it was bigger than PancakeSwap, Tron, Uniswap, and many others. At the time of writing, it is still bigger than Bitcoin at number 5 in the rankings. Moreover, it is still more than $709,000 in transaction fees. 

 

 

Crypto project ranking table by fees and revenue
Crypto projects ranking by fees and revenue | defillama.com

 

But even more, comparing the fees in the past seven days shows massive growth. In the past seven days, this project had more than $5.3 million in fees generated from user activities. This is even better than Bitcoin, which only manages to keep up at $3.39 million. 

 

Furthermore, this crypto project is not only good at generating fees. The amount of revenue it generated from these fees is mindblowing. Apparently, Bitcoin has about $0 in the amount of revenue generated in the past seven days. On the other hand, Friend.tech has over $2.65 million in revenue in the past seven days. All these are according to data provided by DefiLlama

 

This cryptocurrency project has experienced immense growth, attracting the interest and participation of several prominent entities such as HsakaTrades, Cobie, and many others. However, they are not the only ones drawn to this project, as individuals from various industries, including FaZe Banks and Milwaukee Bucks point guard Grayson Allen, have also joined in.

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