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Friend Tech hits an all-time low with decreasing volumes and users!

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Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Friend Tech has hit all-time lows in its primary data with decreasing volumes, fee captures, and traders. On November 1st, the platform recorded a total volume of $881k and fee captures of $881k, both of which were the lowest since early September. The number of traders on the platform was recorded at 6.03k, further contributing to the platform’s declining statistics. Additionally, the proportion of gas usage on the base network has dropped to 3.8%, also nearing an all-time low. Friend Tech’s daily average of new users in the past three days is only about 560, indicating a significant drop in active users. Furthermore, the platform’s total value locked (TVL) has decreased by approximately 25.8% to 22,431 ETH from its peak of 30,247 ETH in early October.

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