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Friend.tech witnessed a massive inflow of 4.06k ETH on September 9.

The transaction volume of the platform has also exhibited a significant surge, reaching $12.32 million.

The platform’s TVL currently stands at a staggering $19,388,416.

In the highly unpredictable and ever-evolving space of blockchain, the decentralized social networking platform Friend.tech has been creating waves with its astounding triumphs over the previous days. Reportedly, Friend.tech witnessed a massive inflow of 4.06k ETH on September 9, marking its new high in a single day.

Prominent Chinese reporter Colin Wu, on his official Twitter page, Wu Blockchain, shared a thread, inviting his 309.7k followers’ attention to the exemplary performance of the novel decentralized social media built on Coinbase’s layer 2 Base blockchain. According to Wu’s tweet, Friend.tech’s transaction volume also exhibited a remarkable surge reaching $12.32 million.

Friend Tech had a net inflow of 4.06k ETH on September 9, setting a new high in a single day, pushing the overall TVL to exceed 11,000 ETH. The transaction volume increased significantly to 12.32 million US dollars, and generated 1.2 million US dollars in fees, which was the… — Wu Blockchain (@WuBlockchain) September 10, 2023

Friend.tech went live on August 10, amassing wide popularity across the globe with more than 8.5k. On the same day, the platform generated around 3.2k ETH in trading volume. As per the recent data, on September 9, the platform saw the highest transaction fee of $1.2 million since August 21. According to Dune Analytics,

Friend.tech gained huge success shortly after launch with a daily fee of $1M+ (More than Tron and Uniswap) and ~100K users. Non-crypto native celebrities like Grayson Allen (NBA Player) and Garry Tan (Partner at Y-Combinator) have also created their profile on Friend.tech. It highlights the potential of SocialFi and the profitability of the business.

Source: Dune Analytics

The platform has also experienced substantial growth in the total value locked (TVL) on Friend.tech for minting keys. The current value of TVL stands at a staggering $19,388,416. The total number of Friend.tech users who have done a minimum of 1 transaction is 137, 171.