Anything that works in the cryptocurrency market is sure to attract copycats.
Following the recent success of friend.tech, social media users are now flocking to PostTech, which has seen more than $5 million in trading volume in the last day and a half, according to a Dune Analytics dashboard. At the same time, the user count passed 30,000, from just 733 on September 16th.
A big difference between PostTech and friend.tech is that trading fees are split equally between creators and holders rather than accrued on the platform.
Users can earn ETH by buying, selling, and trading stocks, as well as creating content on the platform, and can earn points by performing various other activities.
PostTech is the new ‘wave’
PostTech appears to be the first app to pose a significant challenge to friend.tech’s runaway success. In fact, the SocialFi app that captivated the cryptocurrency industry last month saw its first net ETH outflow in 20 days.
It also appears that friend.tech isn’t the only app that deeply inspired Post Tech’s design – the newcomer looks almost identical to X (formerly Twitter).
Developers at Post Tech chose to deploy on Arbitrum, TVL’s flagship Ethereum Layer 2, while friend.tech chose Coinbase’s recently launched Base, which saw activity drop from a record 21 transactions per second (TPS) in September 14th.
*Translation of the article “Trading Volume On Social App PostTech Crosses $5M” with permission from The Defiant.
Notice: The text presented in this column does not necessarily reflect the opinion of CriptoFácil.