Friend.tech reemerges with TVL reaching record $20m
Friend.tech gained popularity again, with its total-value locked (TVL) reaching the $20 million mark for the first time since its launch. On Aug. 28, the crypto community on X (formerly Twitter) called the decentralized social network “dead” after Friend.tech witnessed a significant plunge in its total fees, revenue, and TVL. Friend.tech TVL – Sept. 11 | Source: DeFi Llama According to data provided by DeFi Llama, the total fees accumulated from Friend.tech users dropped from roughly $1.7 million on Aug. 21, to around $740,000 on Aug. 22. This immense plunge made the crypto community believe the protocol was “dead.” You might also like: Vitalik Buterin X account hacked as crypto scam posts increase However, Friend.tech’s TVL has been constantly rising since Sept. 2 and even surpassed the $20 million mark for a few hours on Sept. 10. The protocol’s TVL stands at $19.89 million at the time of writing. According to data provided by DeFi Llama, the total fees accumulat...