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Friend.tech gained popularity again, with its total-value locked (TVL) reaching the $20 million mark for the first time since its launch.On Aug. 28, the crypto community on X (formerly Twitter) <a href="https://crypto.news/friend-tech-activity-plunges-crypto-community-calls-it-dead/" rel="noopener noreferrer nofollow">called</a> the decentralized social network “dead” after Friend.tech witnessed a significant plunge in its total fees, revenue, and TVL.<figure class="wp-block-image size-full"><img width="1541" height="532" src="https://crypto.news/app/uploads/2023/09/Friend.tech-TVL.png" alt="Friend.tech reemerges with TVL reaching record $20m - 13" class="wp-image-14193319"><figcaption class="wp-element-caption"> Friend.tech TVL – Sept. 11 | Source: <a href="https://defillama.com/protocol/friend.tech?fees=true&amp;revenue=true&amp;usdInflows=true&amp;twitter=false&amp;groupBy=daily" rel="noopener noreferrer nofollow">DeFi Llama</a></figcaption></figure>According to data provided by DeFi Llama, the total fees accumulated from Friend.tech users <a href="https://crypto.news/friendtech-fees-drop-70-following-1-7m-peak/" rel="noopener noreferrer nofollow">dropped</a> from roughly $1.7 million on Aug. 21, to around $740,000 on Aug. 22. This immense plunge made the crypto community believe the protocol was “dead.”You might also like: <a href="https://crypto.news/vitalik-buterin-x-account-hacked-as-crypto-scam-posts-increase/" rel="noopener noreferrer nofollow"> Vitalik Buterin X account hacked as crypto scam posts increase </a>However, Friend.tech’s TVL has been constantly rising since Sept. 2 and even surpassed the $20 million mark for a few hours on Sept. 10. The protocol’s TVL stands at $19.89 million at the time of writing.According to data provided by DeFi Llama, the total fees accumulated on Friend.tech have been constantly declining since Sept. 9, falling from $1.23 million to $929,000 over the past two days.Moreover, as the total fees drop, DeFi Llama data suggests that Friend.tech’s daily revenue has declined from $615,000 to $464,000 in the mentioned timeframe.Per the data provider, the decentralized social protocol has accumulated roughly $12.36 million in fees and generated a cumulative revenue of $6.18 million.Read more: <a href="https://crypto.news/us-senator-says-bitcoin-mining-could-boost-energy-grid-resilience/" rel="noopener noreferrer nofollow"> US Senator says Bitcoin mining could boost energy grid resilience </a>

Friend.tech reemerges with TVL reaching record $20m

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