Friend Tech’s Remarkable Surge: Over 80,000 ETH Inflows and Skyrocketing Transactions

By 0xK2 09/12/23 2:25 PM

Friend Tech, the creators of the Social-Fi app, has made headlines yet again with an impressive milestone. According to the latest data from NFTgators, Friend Tech has achieved an astounding accumulation of over 80,000 Ethereum (ETH) inflows, sourced from a staggering 211,000 unique users and facilitated through 3.7 million transactions. These remarkable figures include 66,700 buyers and 144,300 sellers, showcasing the growing popularity of this cutting-edge platform.

The statistics revealed by NFTgators depict a remarkable surge in Friend Tech’s activities, particularly since September 10th. On average, the platform records a daily inflow of 2,400 ETH through 113,000 transactions, marking an impressive uptick in user engagement and investment. What’s even more striking is the average inflow per transaction, standing at 0.02 ETH, equivalent to approximately $40, highlighting the accessibility of Friend Tech to a broad range of users. Moreover, the platform generates an impressive daily fee of 122.4 ETH, equivalent to a staggering $197,000 in value.

Social-Fi app @friendtech surpassed 80K ETH in total inflow from over 3.7M TXns, made by 211K unique sellers and buyers (66.7K sellers and 144.3K buyers).@DuneAnalytics dashboard by @CryptoKoryo pic.twitter.com/gEMQHALeEV

— NFTgators 🐊 (@NFTgators) September 12, 2023

To provide a clearer perspective on Friend Tech’s financial success, let’s examine the numbers. The total fees generated by Friend Tech thus far have reached 4,000 ETH, illustrating its lucrative nature. This financial milestone is indicative of the platform’s ability to provide substantial returns to its users, further driving interest and investment.

Total Value Locked Surges Beyond $20 Million

Friend Tech’s recent achievements extend beyond impressive transaction numbers and fees. As previously reported by AZCoin News, the Total Value Locked (TVL) on Friend.tech has more than doubled, breaching the $20 million mark in just the past four days. This meteoric rise in TVL reflects the growing confidence and trust in Friend Tech’s capabilities.

In another monumental achievement, the transaction volume on Friend.tech soared to an astonishing $12.3 million on September 9th, ranking it as the third-highest volume ever recorded in the NFT and blockchain space. This accomplishment signifies the platform’s competitiveness and allure in the highly competitive crypto market.

FriendTech trading volume was $12.3M yesterday.

Total NFT trading volume on ETH was just $9.15M. pic.twitter.com/CbqVYqP5PQ

— TylerD 🧙‍♂️ (@Tyler_Did_It) September 10, 2023

Perhaps one of the most remarkable feats achieved by Friend Tech is its daily trading volume, which has now exceeded that of OpenSea, one of the most well-known NFT marketplaces in the world. Friend Tech’s daily trading volume has surged beyond $3 million, showcasing its ability to rival and surpass established players in the NFT ecosystem.

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