<![CDATA[<figure class="image"><img src="https://cimg.co/news/125406/331201/social-media.jpeg" srcset="https://cimg.co/news/125406/331201/responsive-images/social-media___media_library_original_1280_853.jpeg 1280w, https://cimg.co/news/125406/331201/responsive-images/social-media___media_library_original_1200_800.jpeg 1200w, https://cimg.co/news/125406/331201/responsive-images/social-media___media_library_original_900_600.jpeg 900w, https://cimg.co/news/125406/331201/responsive-images/social-media___media_library_original_720_480.jpeg 720w, https://cimg.co/news/125406/331201/responsive-images/social-media___media_library_original_600_400.jpeg 600w, https://cimg.co/news/125406/331201/responsive-images/social-media___media_library_original_300_200.jpeg 300w" width="1280" class="content-img" alt=""><figcaption>Source: Adobe / Teerasan</figcaption></figure>In the world of social media, competition is fierce, and when it comes to token-gated channels, pioneer Friend.Tech dominated until rival Post.Tech recently experienced a surge in daily trading volume, The Block <a href="https://www.theblock.co/post/252295/friend-tech-rival-post-tech-activity-picks-up-with-1-8-million-in-daily-volume">reported</a> on Thursday.Post.Tech operates much like its predecessor, Friend.Tech, offering token-gated channels where users can buy and sell access tokens.Both platforms charge a 10% fee on transactions, split evenly between the app and the channel's owner.While Friend.Tech has dominated this space since its inception, with daily transaction volumes occasionally reaching $20 million and a total volume of $250 million, Post.Tech is catching up despite launching a month later, the new data showed.<h2 id="soaring-usage">Soaring usage</h2>On September 20, Post.Tech recorded $875,000 in transaction volume, according to DappRadar.Meanwhile, the data showed that over the past 24 hours, the platform has seen trading volume exceed $1.81 million, with daily transactions soaring from just 2,000 on September 16 to over 190,000 as of September 21.<figure class="image"><img src="https://cimg.co/news/125406/331200/post-tech-activity.jpg" srcset="https://cimg.co/news/125406/331200/responsive-images/post-tech-activity___media_library_original_1532_746.jpg 1532w, https://cimg.co/news/125406/331200/responsive-images/post-tech-activity___media_library_original_1200_584.jpg 1200w, https://cimg.co/news/125406/331200/responsive-images/post-tech-activity___media_library_original_900_438.jpg 900w, https://cimg.co/news/125406/331200/responsive-images/post-tech-activity___media_library_original_720_351.jpg 720w, https://cimg.co/news/125406/331200/responsive-images/post-tech-activity___media_library_original_600_292.jpg 600w, https://cimg.co/news/125406/331200/responsive-images/post-tech-activity___media_library_original_300_146.jpg 300w" width="1532" class="content-img" alt=""><figcaption>Source: DappRadar</figcaption></figure>At the same time, the DappRadar data showed that over 22,000 unique active wallets (UAWs) have interacted with Post.Tech in the last 24 hours, compared to 14,300 UAWs on Friend.Tech.The strong growth in usage was also pointed to by post.tech in a post on X from Thursday:<figure class="media"><oembed url="https://twitter.com/PostTechSoFi/status/1704861794664435748"></oembed></figure><h2 id="different-l2-networks">Different L2 networks</h2>The two platforms have some differences worth noting.Friend.Tech operates on <a href="https://cryptonews.com/news/coinbase-launches-layer-2-blockchain-base-to-offer-fast-low-cost-and-secure-transactions-heres-what-you-need-to-know.htm">Coinbase&rsquo;s new Ethereum Layer 2 network Base</a>, while Post.Tech uses the popular but older Ethereum Layer 2 network Arbitrum.Another distinction is the reward mechanism, where Friend.Tech rewards users with points, fueling speculation about potential airdrops in the future.In contrast, Post.Tech offers cash rewards, distributed proportionally based on user activity.Post.Tech recently announced a $100,000 reward for activity between September 7 and September 22, which The Block speculated could be contributing to its recent surge in usage.
]]>

Post.Tech, Friend.Tech's Rival, Sees Surge with $1.8 Million Daily Trading Volume

Table of Contents

Cryptonews.com

Other articles published on Sep 22, 2023

Is It Too Late to Buy ImmutableX? IMX Price Rockets Up 30% as Whales Start Accumulating and Meme ...

Fuji Finance is sunsetting operations due to dwindling funds

Economic red flag as Eurozone business orders plummet

Top Jobs Platform Integrates Shiba Inu Ecosystem with BONE Payments

Polkadot’s evolution toward asynchronous backing: The journey to 1,000 parachains

Avoiding FOMO When Buying ADA During Price Rises

Join our free newsletter for daily crypto updates!