Stars Arena, formerly known as Starshares, has experienced a significant increase 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 sharp rise from the 16,000 daily transactions seen in late September. In addition, the transaction volume on Stars Arena exceeded $1.7 million on Monday.
Stars Arena is a social platform built on Avalanche’s Contract Chain (C-Chain) and is designed for smart contracts, compatible with Ethereum Virtual Machines (EVM). The platform currently has over 14,000 active wallets attached to it.
Similar to Friend.Tech, Stars Arena allows users to link their Twitter accounts to the platform. Once connected, users can trade profile tokens of other members. To transfer funds from the platform, users must link an AVAX address to their profiles.
One user, @waleswoosh, expressed satisfaction with Stars Arena, stating that it is superior to Friend.Tech in many ways. They appreciate the presence of a public feed, which allows people to access posts without having to pay. However, @waleswoosh also pointed out areas for improvement, such as the lack of a stable chat function and the need for clarity regarding the platform’s management team.
Despite the surge of interest in Stars Arena, a report from Dune indicates that Friend.Tech continues to dominate the social platform space. Friend.Tech records 7.25 million monthly transactions and $33.4 million in weekly volume, while Stars Arena shows 691.8 thousand monthly transactions and $6.4 million in weekly volume.
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 this rise in value and attribute it to the popularity of Stars Arena.
However, not everyone shares the same enthusiasm for Stars Arena and Friend.Tech. Some Twitter users expressed indifference and a lack of interest in joining new crypto platforms, citing concerns about screen time and valuing time over money. Nevertheless, some users still acknowledge connecting their accounts to Stars Arena after a while, noting the fast and easy onboarding process compared to that of Friend.Tech.
Overall, the launch of Stars Arena has generated increased transaction activity on the Avalanche network, attracting users with its unique features and functionality. While it may still have some areas to improve upon, the platform’s growth shows the potential impact a single killer app can have on the usage statistics of blockchain networks and associated tokens.
