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The Decline of Friend.tech: A Look at the Plummeting Metrics

Less than three weeks after its launch, the decentralized social network Friend.tech has experienced a significant drop in key metrics such as activity, inflows, and volume. Critics have already declared it ‘dead’ as buyers, sellers, inflows, and transactions have all taken a dive. This article examines the reasons behind this decline and explores the platform’s failure due to greed and poor execution. Despite attracting crypto and non-crypto influencers, Friend.tech’s fees have plummeted,…

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Fenix International’s Investment in Ethereum: Exploring OnlyFans’ Crypto Holdings

Fenix International, the parent company of OnlyFans, has revealed its cryptocurrency holdings, investing nearly $20 million in Ether (ETH) between 2021 and 2022. Despite a decline in crypto asset prices, the company’s ETH holdings were valued at $11.4 million as of November 2022. OnlyFans experienced solid growth, with a 16.6% increase in revenue, a 47% increase in creators, and a 27% increase in subscribers. This investment follows previous forays into the digital asset space by the compa…

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Overcoming Onboarding Challenges: The Key to Decentralized Social Media Success

Despite the recent hype around decentralized social networks, user onboarding and retention remain major challenges. According to industry insiders, up to 99% of first-time users in the decentralized social media space end up quitting due to clunky onboarding processes and lack of familiarity with the technology.

Simplifying the onboarding flow is crucial for mainstream adoption, as the current process of exchanging cryptocurrencies, setting up wallets, and paying high transaction fe…

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Balancer Vulnerability Exploited: $900K Lost in Recent Attack

Balancer, an Ethereum automated market maker and decentralized finance protocol, fell victim to an exploit just days after disclosing a vulnerability affecting its boosted pools. The attack resulted in a loss of nearly $900,000. The protocol’s team confirmed the incident on X, stating that while mitigation measures had reduced risks, affected pools could not be paused. To prevent further exploits, users were advised to withdraw funds from affected liquidity providers. The attacker’s Ethere…

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Bitcoin Price Stability Creates Lucrative Setups in TON, XMR, MNT, and QNT

Bitcoin’s price holding at $26,000 presents bullish trading opportunities for altcoins such as TON, XMR, MNT, and QNT. CryptoQuant CEO Ki Young Ju notes that Bitcoin’s velocity has hit a 3-year low, suggesting that whales are holding onto their positions. JPMorgan analysts believe that Bitcoin’s downtrend may be ending, as the declining open interest in Bitcoin futures contracts indicates that the long liquidation is over. Altcoins may offer short-term trading opportunities if Bitcoin rema…

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