Friend.Tech is an upcoming web3 platform that allows users to monetize their social connections. Since its inception, the platform has recorded significant traction and has facilitated over 9.2 million cumulative transactions. As of Monday, the platform had recorded total protocol fees of about 10,749 Ethers and a total inflow of approximately 214,985.878 ETH worth around $352 million.Friend.Tech has attracted mainstream users, especially from the X platform, with a high following volume. As of reporting time, the platform had about 307,737 unique buyers out of approximately 169,480 unique sellers. The platform has recorded a total volume of about 92,612 Ethers, with the total volume bought since launch amounting to approximately $200 million.The launch of the Friend.tech platform is strategic to the mainstream adoption of digital assets, as it allows users to monetize their following base by issuing a token that has controlled tokenomics to avoid hyperinflations and market dumping on holders. As a result, the Base network has significantly benefited from the high volume generated, with its total value locked reaching a new high of about $356 million and a total inflow of nearly $1 million.The Friend.Tech platform has minimal competition in the market, with some of the notable competitors including FriendRoom, PostTechSoFi, and Star Shares. However, new users on the Friend.Tech platform has remained relatively low in the past month despite a steady growth in TVL. On an annualized basis, the platform has recorded total fees and revenue of about $327 million and $163 million respectively. In the past 24 hours, the platform recorded a total of about 15k active addresses.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	None
Companies	Coinbase Global, Ethereum, FCA, eToro, CySEC, FINRA, Base
Currencies	Ethereum, Bitcoin, Euro, US Dollar
Securities	None