Stars Arena, formerly known as Starshares, has experienced a significant surge in transactions on the Avalanche network since its launch in late September. According to DappRadar, the platform recorded over 215,000 transactions on Monday, a substantial increase from the 16,000 daily transactions observed in late September. The transaction volume on Stars Arena has also skyrocketed, exceeding $1.7 million on Monday. With over 14,000 active wallets attached to the platform, Stars Arena has proven to be a popular social platform built on Avalanche's Contract Chain (C-Chain), which is designed for smart contracts and compatible with Ethereum Virtual Machines (EVM).
One unique feature of Stars Arena is its integration with Twitter. Users can link their Twitter accounts to the platform, allowing them to trade profile tokens of other members. Additionally, users are required to link an AVAX address to their profiles in order to transfer funds from the platform. This integration with Twitter has received positive feedback from users, with one active Stars Arena and Twitter user expressing their satisfaction with the platform. They highlighted the accessibility of the public feed, stating that it addresses one of the main problems they had with Friend Tech (FT), another social platform. According to this user, FT's lack of accessibility to a large audience was a significant drawback. However, they also pointed out areas in which Stars Arena could improve, such as the absence of a stable chat function and the need for more clarity regarding the platform's management team.
Despite the surge in interest since its launch, Stars Arena still lags behind Friend Tech in terms of transaction volume. According to a Dune report, Friend Tech continues to hold a substantial lead in the social platform space, with 7.25 million monthly transactions and $33.4 million in weekly volume. In comparison, Stars Arena (still listed as Starshares) has 691.8 thousand monthly transactions and $6.4 million in weekly volume. However, the increased interest in Stars Arena has positively impacted the AVAX token, boosting its value from $9.21 on Tuesday to its current trading price of $10.08, according to CoinMarketCap.
Blockchain analysts have taken notice of the rise in AVAX token value and attribute it to the surge in popularity of Stars Arena. Patrick Scott, a blockchain analyst, commented on the significant impact a single killer app can have on usage statistics, emphasizing that the industry is still in its early stages.
While Stars Arena has garnered a considerable amount of attention, not everyone is impressed or willing to jump on the latest crypto bandwagon. Some Twitter users have expressed their indifference towards Friend Tech and Stars Arena, citing concerns about screen time and the abundance of apps. However, even these skeptics have acknowledged the ease and efficiency of the onboarding process on Stars Arena compared to that of Friend Tech.
Overall, Stars Arena has made a significant impact on the Avalanche network, attracting a surge in transactions and positively influencing the value of the AVAX token. While there are areas for improvement, the platform's integration with Twitter and its accessibility to a wider audience have garnered praise from users. As the industry continues to evolve, it will be interesting to see how Stars Arena and other social platforms shape the future of blockchain technology.
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