Crypto-based friend.tech sees $5 million in trading in past 24 hours and half

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Crypto-based friend.tech sees $5 million in trading in past 24 hours and half

Cryptocurrency is bound to attract copycats.

After the launch of friend.tech, social media users are flocking to PostTech, which has seen over $5 million in trading volume in the past 24 hours and a half, according to a Dune Analytics dashboard. Earlier this week, users have rocketed past 30,000 from just 733 on Sept. 16.

PostTech and friend.tech have a distinct difference in trading fees, which are shared evenly between creators and holders, rather than having to pay for the platform.

Users can earn ETH by trading shares and buying shares on the platform, as well as creating content on the platform, and earning points by participating in various activities.

PostTech appears to be the first application to pose a meaningful challenge to friend.tech's breakaway success. The socialFi app that has captivated crypto has seen its first net outflow of ETH in 20 days.

It also appears that friend.tech is not the only application that deeply inspired Post Tech's design - the newcomer looks nearly identical to X.

Post Tech's developers chose Arbitrum, TVL's leading Ethereum layer 2 platform, while friend.tech chose Coinbase's recently launched Base, which has seen activity drop from a record 21 transactions per second on Sept. 14.