Friend.tech, a blockchain-based application on Ethereum L2 base that allows crypto users to benefit from the social influence of their online friends, more than the Ethereum (ETH) and Bitcoin (BTC) networks in the last 24 hours The fee has been increased.

According to data, Friend.tech team earns $1 million per day

Yesterday, on September 15, 2023, the team of Friend.tech application on Base made more than 1 million dollars in revenue. During this time, the total income of all Ethereum (ETH) validators was only $406,000. Additionally, according to data from the Token Terminal analytics platform, the highly touted SocialFi app overtook the Tron (TRX) blockchain, which is the main technological foundation for USDT remittances.

According to another tracker, Cryptofees.info, Bitcoin (BTC) generated $866,000 in fees, while BNB Smart Chain (BSC) network participants recorded about $300,000 in earnings.

Thus, one application team collected more fees in 24 hours than any of the major blockchains, both programmable and non-programmable. Meanwhile, three weeks ago, in late August 2023, some experts said it was over for Friend.tech after a 95% activity drop.

The social network has already been joined by a number of cryptocurrency influencers, including John Lennon’s son Sean Ono Lennon and Coinbase CEO Brian Armstrong.

Ethereum (ETH) Gas Drop Drives Network Inflation Last Week

In this application, people can trade “keys” or “shares” with a highly volatile price associated with the popularity of this or that person in the Web3 area.

Additionally, Ethereum (ETH) fees continue to decline. Right now, gas on the Ethereum (ETH) network sits at 10 GVE, allowing users to transfer USDT on-chain for sub-dollar fees.

Over the past seven days, Ethereum (ETH) has also failed to maintain its deflationary stance: its token burn mechanism has become too weak to keep up with new token issuance.

source: u.today