On-Chain Data Shows Friend.Tech’s Hype Was Short Lived
In less than a month, viral Friend Tech appears dead in the DeFi water.
BTC$62,686.00-1.67%
ETH$1,666.62-3.16%
USDT$0.9987-0.01%
USDC$0.9996-0.01%
XRP$1.10-1.88%
SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
BTC$62,686.00-1.67%
ETH$1,666.62-3.16%
USDT$0.9987-0.01%
USDC$0.9996-0.01%
XRP$1.10-1.88%
SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
Total value deposited into DeFi contracts on the Base blockchain soared over 62% over 24h.
In less than a month, viral Friend Tech appears dead in the DeFi water.
Friend.Tech is ranked third for fees and revenue generated in the past 24 hours, but the newly launched platform faces multiple issues related to privacy.
Over 500 scam tokens were deployed on Coinbase's Base blockchain between mid-July and its public debut earlier this month.
Base saw a substantial increase in activity driven by hype around a new blockchain-based social media platform.
Coinbase's L2 network Base saw an avalanche of activity on Sunday.
This Friday, Base announced that Chainlik Data Feeds are now live on the testnet and available at a reduced cost.
Coinbase can use its Ethereum layer-2 network, Base, to introduce on-chain experience to retail customers.
Coinbase's L2 network is built on the MIT-licensed OP Stack in collaboration with Optimism.