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 <p class="is-style-lead">Friend.tech gained popularity again, with its total-value locked (TVL) <a rel="noopener noreferrer nofollow" title="reaching" href="https://thebittimes.com/tag/reaching.html">reaching</a> the $20 million mark for the first time since its launch.</p> 
 <p>On Aug. 28, the crypto community on X (formerly Twitter) called the decentralized social network “dead” after Friend.tech witnessed a significant plunge in its total fees, revenue, and TVL.</p> 
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  <img decoding="async" width="1541" height="532" src="https://cdn.thebittimes.com/images/2023/09/11/f1b79fbe44140a07d0f9e56b162ede50.webp" alt="Friend.tech reemerges with TVL reaching record $20m - 1" class="wp-image-14193319"> 
  <figcaption class="wp-element-caption">
    Friend.tech TVL – Sept. 11 | Source: DeFi Llama 
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 <p>According to data provided by DeFi Llama, the total fees accumulated from Friend.tech users dropped 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.”</p> 
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 <p>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.</p> 
 <p>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.</p> 
 <p>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.</p> 
 <p>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.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/friend-tech-reemerges-with-tvl-reaching-record-20m-tbt62233.html">https://thebittimes.com/friend-tech-reemerges-with-tvl-reaching-record-20m-tbt62233.html</a></p>

Friend.tech reemerges with TVL reaching record $20m

TheBitTimes

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