Stars Arena, a decentralized social media (DeSo) application, has caused a major uptick in activity on Avalanche’s C-chain network. This has resulted in an 8% increase in the price of the network’s native AVAX token in the last 24 hours. Launched in late September, Stars Arena has seen the total number of daily transactions on the Avalanche C-chain grow by more than 186%. The platform has also seen more than 10,000 unique active wallets and over $3.26 million in total trading volume.The platform is similar to Friend.tech, allowing users to link their Twitter accounts and purchase “tickets” of other users. However, Stars Arena features a public feed, so users can follow others without needing to front up large sums of money.Stars Arena is the latest app to join a growing roster of social finance platforms such as Alpha on the Bitcoin network, Friendzy on Solana and PostTech on Arbitrum. Despite the surge in similar DeSo apps, Friend.tech remains the market leader, with more than $293 million monthly trading volume. Users have noted that the application is still quite buggy, with chats being “very laggy” and a lack of information on the team behind the application. However, many have capitulated in creating a Stars Arena account after seeing it all over their timelines.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | None |
| Companies | DefiLlama, Friend.tech, Avalanche, DappRadar, Alpha |
| Currencies | Avalanche, Bitcoin, Ethereum, Stargaze |
| Securities | None |
