Friend.tech’s top key, belonging to pseudonymous co-founder Racer, is now worth nearly 40% of the BAYC floor price.
Keys represent tokenized versions of what was previously known as"shares" in users' profiles, tied to their X accounts that friend.tech connects to. Owning a user key on friend.tech offers access to that user's content and the ability to message them.Activity on the much-hyped social app initially gained a lot of traction among X users, attracting high-profile members like Y Combinator CEO Garry Tan and NBA player Grayson Allen.
Nevertheless, interest in friend.tech has picked up again over the past week — with trading volume, fees and total value locked all reaching record highs yesterday. Daily trading volume on friend.tech reached $20 million on Sept. 14, according to Dune Analytics data — nearly 20% higher than the $16.9 million at the August peak.Meanwhile, daily fees generated on the platform also reached all-time highs, hitting $2 million yesterday — some 18% up on the Aug. 21 figures and adding to the $18.4 million in fees generated since its genesis. However, this is just half of the totalFriend.tech fees generated. Image:Finally, the total value locked on friend.
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