Stars Arena, a decentralized social media (DeSo) application, has recently caused a significant surge in activity on Avalanche’s C-Chain network. This surge in activity has not only boosted the network’s performance but also resulted in a remarkable price increase of the native AVAX (AVAX) token, which has grown by over 8% in the past 24 hours. The Stars Arena platform, influenced by Friend.tech, has experienced a substantial rise in daily transactions on the Avalanche C-Chain, with a staggering growth rate of more than 186% over the last two days. Moreover, the application has attracted over 10,000 active wallets, demonstrating its rapid growth and popularity among crypto enthusiasts.
The Stars Arena application has not only witnessed a surge in network activity but has also generated significant trading volume and value locked. In just two days, the platform recorded a trading volume of over $3.26 million and more than 462,000 transactions, as reported by DappRadar. Additionally, data from DefiLlama indicates that Stars Arena has exceeded $1 million in total value locked (TVL). However, in comparison to Friend.tech, which boasts a TVL of around $44.27 million, Stars Arena still has some ground to cover.
Stars Arena allows users to link their X (Twitter) accounts, similar to Friend.tech. However, one of the unique features of Stars Arena is its public feed, enabling users to engage socially without requiring large financial investments. In contrast, Friend.tech requires users to purchase tickets to access private chats. This distinction has led some users, such as Wale.swoosh, to consider Stars Arena as “superior to Friend.tech in a lot of ways.” According to Wale.swoosh and other X users, Stars Arena still has some bugs and lags in its chat system. Another concern raised by users is the lack of information available about the team behind the Stars Arena application.
Despite the surge in similar DeSo apps, Friend.tech remains the leading player in the market. It boasts a staggering $293 million in monthly trading volume, leaving its closest competitor, PostTech, trailing by over $283 million. This shows that Friend.tech has established itself as the go-to platform for DeSo enthusiasts and has garnered a substantial user base.
Stars Arena’s entrance into the decentralized social media landscape has had a significant impact on Avalanche’s C-Chain network. The platform has experienced a surge in activity, resulting in a notable price increase for the AVAX token. While Stars Arena offers some unique features and opportunities for social interaction, it still has room for improvement in terms of bug fixes and transparency about its development team. As the market leader, Friend.tech maintains its dominant position, demonstrating its strong hold on the DeSo market.