The price of AVAX has increased by over 8% due to increased network activity caused by the Stars Arena decentralized social media application on Avalanche’s C-Chain network. The total number of daily transactions on the Avalanche C-Chain has grown by more than 186% in the past two days. Stars Arena has seen rapid growth with over 10,000 active wallets and more than $3.26 million in total trading volume. However, it still lags behind Friend.tech in terms of total value locked. Stars Arena allows users to link their X (Twitter) accounts and use AVAX tokens to purchase “tickets” from other users. The platform has a public feed feature, unlike Friend.tech, which allows users to follow others without needing large sums of money. Users have noted that Stars Arena is still buggy and lacks information about the team behind the application. Stars Arena is one of several social finance platforms in the market, with Friend.tech being the market leader.
