Friend.tech Revenue Exploding, Bitcoin Surprisingly Struggling To Catch Up
Friend.tech, a decentralized social media platform built on the Base, the Ethereum layer-2 scaling solution backed by Coinbase, generates more fees, and thus, revenue than Bitcoin. This transactional platform allows users to move value. According to Token Terminal data on Oct. 6, Friend.tech generated $28.6 million in fees, above Bitcoin’s $26.8 million. This spike is […]
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Barely two weeks after going live on the Base network, Friend.tech has grabbed the attention of the cryptocurrency space. At the same time, the decentralized social media platform has gained interest from numerous maximal extractable value (MEV) bot deployers. According to a new report, MEV bots have made over $2 million by sniping “keys” on […]
The cryptocurrency industry is exploding in interest in every sector from DeFi to NFTs and more, but the technology still has a road left ahead before accessibility and education catch up with the innovation offered. In an effort to bridge that gap and make crypto-centric applications like DeFi easily accessible and understood by all, the […]
The total amount of Ethereum (ETH) staked on Lido Finance, one of the many liquidity staking protocols available, has risen steadily over the past few years. Surprisingly, revenue accrued by the platform (compared to staking rewards distributed) remains comparatively low. Lido Finance Revenue Isn’t Growing As Fast As Expected Looking at Token Terminal data shared on October 19, the blockchain analytic platform observed that while staking rewards paid, counted as “fees” by Lido Finance grew from less than $10 million in early 2021 to over $60 million in June 2023, revenue....
Source: TheGenesisBlock.com. It was last one week ago that reports surfaced indicating that BTC China would be reinstating trading fees due to "turbulent" market conditions. The report indicated that the fees would resume effective immediately, and it seems to have not surprisingly been profitable. According to The Genesis Block, about 340,000 BTC has been transacted since the fees were reimposed at 0.3 percent. That gives us a rough estimate that BTC China's revenue in the past week has been somewhere in the neighborhood of whopping $1.25 million USD. Not bad for an exchange that's....
Ethereum promises big things. Big projects are being built on its platform and its market cap is exploding. Its currency, ETH, recently touched an all-time high and decentralized applications running on its network are impressive. But there’s a catch. The platform is suffering from congestion: with so many apps and people using the network, gas fees are high and transactions can be slow. One platform, Singapore-based TomoChain, is proposing solutions. The smart contract company uses […]