Trading Volume On Social App PostTech Crosses $5M
PostTech Attempts To Enter Hot SocialFi Arena With Combination Of Twitter’s Website and FriendTech’s Trading Features
By: Owen Fernau •DeFi News
Anything that works in crypto is bound to attract copycats.
After the recent success of friend.tech, social media users are now flocking to PostTech, which has seen over $5M in trading volume in the past day and a half, according to a Dune Analytics dashboard. Concurrently, user count has rocketed past 30,000 from just 733 on Sept. 16.
A major difference between PostTech and friend.tech is that trading fees are shared evenly between creators and holders, instead of accruing to the platform.
PostTech appears to be the first application to pose a meaningful challenge to friend.tech’s breakaway success. Indeed, the SocialFi app that has captivated crypto over the past month saw its first net outflow of ETH in 20 days.
It also seems like friend.tech isn’t the only application that deeply inspired Post Tech’s design — the newcomer looks nearly identical to X (formerly Twitter).
Post Tech’s developers chose to deploy on Arbitrum, the leading Ethereum Layer 2 by TVL, while friend.tech chose Coinbase’s recently launched Base, which has seen activity drop from a record 21 transactions per second (TPS) on Sept. 14.