Who are the top 25 earning accounts on friend.tech?

Source: Coingecko; Compilation: BitpushNews Mary Liu

The daily transaction volume on L2 Base of Ethereum, incubated and launched by Coinbase, surpassed that of Ethereum. The latest data from Artemis Terminal, a digital asset analysis platform, showed that the daily transaction volume of Base reached 1.37 million yesterday, while the daily transaction volume of Ethereum Just over 1 million transactions. This is driven in large part by the hype around friend.tech — a new decentralized social media platform built on Base that is exploding in popularity.

**Who are the top friend.tech accounts? **

Cobie is the highest ranked friend.tech account with $144,400 (81.94 ETH) in Royalty earnings.

0xRacerAlt, founder of friend.tech, followed as the second largest friend.tech account with royalties of $101,700 (58.04 ETH).

HsakaTrades came in third with $100,600 (5706 ETH) in royalties.

Other friend.tech accounts on the list earned anywhere from $14,900 to $75,500 in just 12 days after the August 11, 2023 beta launch. Average daily earnings of $12,000 to $63,000 would result in annualized earnings of $453,200 to $2.3 million (if daily earnings remain at current levels).

Notably, Cobie, 0xRacerAlt, and HsakaTrades combined contributed 34.6% of the total royalties earned by the top 25 top friend.tech accounts.

Separately, ethereum researcher Evan Van Ness and Flashbots product lead Robert Miller pointed out on Twitter: There are indications that most of the transactions on Base come from bots and spammers trying to gain an advantage on Friend.tech.

Profit Schedule

16 of the top 25 top friend.tech accounts created a profile within the first three days after posting, resulting in an account age of 9-11 days.

These early adopters were already well-known Crypto Twitter (CT) accounts, so they managed to quickly attract the attention of the CT community on friend.tech.

Meanwhile, the remaining nine accounts in the top 25 entered the space just over a week after friend.tech launched. The ages of these accounts ranged from 0 days to 4 days.

Of the nine accounts, six were already influential CT accounts that eventually joined the platform. After entering friend.tech, they climbed to the top of the charts in a short time.

The other three are big names in the esports industry: Faze Banks, 100T Nadeshot, and Faze Rain. Despite not being crypto influencers, they earned $75,500 (44,91 ETH), $27,600 (16,38 ETH), and $19,800 (11,81 ETH) after just one day of joining the platform.

Mainstream adoption of friend.tech?

Of the top 25 friend.tech accounts, 21 out of 25 are existing popular crypto Twitter (CT) accounts. However, non-CT accounts have risen rapidly, and the three accounts of Faze Banks, 100T Nadeshot, and Faze Rain quickly entered the top 25 in a single day. Whether non-CT accounts will continue to gain traction on the platform remains to be seen.

Another top 25 non-CT account is friendtechindex, which reportedly purchased Keys (once named Shares) from top 25 friend.tech accounts and posted content to their holders.

What is friend.tech?

friend.tech, which launched in beta on Aug. 11, allows users to tokenize their Twitter accounts through stock trades, facilitating private messaging between shareholders and owners of the social network. The platform charges a 5% transaction fee, a portion of which is shared with account holders.

This article explores the profitability of some of these accounts 12 days after launch.

Research methods

This study examines the friend.tech accounts that earned the highest royalties from their launch on August 10, 2023, through August 22, 2023 (as of 7:45PM Beijing time). This analysis only considers royalty income and does not include any other external sources of income, such as the sale of own Keys. Royalties are based on CoinGecko price data at the time of sale. And convert from ETH to USD units. Data from Dune Analytics (@cryptokoryo).