Since its launch in late September, Stars Arena, previously known as Starshares, has emerged as a significant player on the Avalanche network, experiencing a remarkable surge in transactions. According to data from DappRadar, the Stars Arena platform recorded an astonishing 215,000 transactions on a recent Monday, marking a substantial increase from the 16,000 daily transactions observed at the end of September. Notably, the transaction volume on the Stars Arena platform has also seen exponential growth, surpassing $1.7 million on that same Monday.
Stars Arena boasts over 14,000 active connected wallets
Stars Arena operates as a social platform built on Avalanche’s Contract Chain (C-Chain), specifically designed to facilitate smart contracts and compatible with Ethereum Virtual Machines (EVM). Impressively, the platform boasts over 14,000 active wallets connected to its ecosystem. Much like Friend.Tech, Stars Arena allows users to link their Twitter accounts to the platform, enabling the trading of profile tokens among members. To make transfers from the platform, users are required to link an AVAX address to their profiles.
One active Stars Arena user, known on Twitter as @waleswoosh, expressed satisfaction with the platform’s improvements over Friend.Tech, highlighting features such as the availability of a public feed that doesn’t require payment to access—a contrast to one of Friend.Tech’s drawbacks. However, @waleswoosh also pointed out areas in need of refinement, including the absence of a stable chat function and a lack of clarity regarding the platform’s management team. While Stars Arena has garnered substantial interest and activity since its launch, a Dune report indicates that Friend.Tech continues to hold a dominant position in the social platform arena.
The budding rivalry in the social platform scene
Friend.Tech boasts a staggering 7.25 million monthly transactions and a weekly volume of $33.4 million. In comparison, the platform reports 691.8 thousand monthly transactions and a weekly volume of $6.4 million. The growing enthusiasm surrounding the platform has also had a positive ripple effect on the AVAX token. Its value surged from $9.21 on Tuesday to its current trading price of $10.08, according to CoinMarketCap. Blockchain analysts have attributed this significant uptick in the AVAX token’s value to the surging popularity of Stars Arena, illustrating the substantial influence that a single killer app can have on usage statistics within the blockchain industry.
Blockchain analyst Patrick Scott observed that the platform’s surging popularity has propelled an increase of about 50% in transactions on Avalanche. He also noted that the industry is still in its early stages and a useful app can have an influence on the usage statistics. Despite the buzz surrounding Stars Arena, not everyone in the crypto space is rushing to adopt the latest trend. Twitter user Kodama voiced their indifference stating that they are not moved by the raving activities. However, Kodama admitted to connecting their account to Stars Arena after some time, acknowledging the platform’s user-friendly onboarding process compared to that of Friend.Tech.
The impressive transaction numbers and growing user base reflect the growing interest in privacy and user-controlled platforms. While Stars Arena has a long way to go to challenge the dominance of Friend.Tech, its recent success demonstrates the potential of innovative blockchain applications to disrupt established industries and capture the imagination of users and investors alike. Also, the rivalry between platforms like Stars Arena and Friend.Tech is a testament to the dynamic and competitive nature of this burgeoning sector.
