Stars Arena Lights up Avalanche: Soaring Transactions and Impact on AVAX Token

Since its launch in late September, Stars Arena, formerly known as Starshares, has witnessed a significant surge in transactions on the Avalanche network. DappRadar reports an impressive increase, with over 215,000 transactions recorded on Monday alone—a remarkable leap from the 16,000 daily transactions observed in late September.

The transaction volume on the Stars Arena platform has not only increased drastically but has also surpassed $1.7 million on Monday. Stars Arena operates as a social platform built on Avalanche’s Contract Chain (C-Chain), specifically designed for smart contracts and compatible with Ethereum Virtual Machines (EVM). Currently, the platform boasts over 14,000 active wallets.

Similar to Friend.Tech, users on Stars Arena connect their Twitter accounts to the platform. Once linked, users can trade profile tokens of other members, and it is mandatory to link an AVAX address to facilitate fund transfers from the platform.

While many users express satisfaction with the Stars Arena platform, there are calls for improvement. An active Stars Arena and Twitter user, @waleswoosh, praised the platform’s superiority over Friend.Tech but pointed out areas that could be enhanced, including the absence of a stable chat function and the need for more clarity regarding the management team.

Despite Stars Arena’s surge in interest, Friend.Tech maintains a significant lead in the social platform space, boasting 7.25 million monthly transactions and $33.4 million in weekly volume, according to a Dune report. In comparison, Stars Arena (still listed as Starshares) reports 691.8 thousand monthly transactions and $6.4 million in weekly volume.

The rising interest in Stars Arena has positively influenced the AVAX token, elevating its value from $9.21 to its current trading price of $10.08, as reported by CoinMarketCap.

Blockchain analysts have taken note of this surge in AVAX token value, emphasizing the profound impact a single popular application can have on the usage statistics of an entire network.

However, amidst the excitement surrounding Stars Arena, not every user is equally enthused. Some express indifference, citing concerns about screen time and app overload. Nonetheless, even skeptics have acknowledged the simplicity and speed of the onboarding process on Stars Arena, particularly in comparison to Friend.Tech.

In the evolving landscape of social token platforms, Stars Arena stands out as a rising star, with both positive user experiences and areas for improvement shaping its trajectory. As the crypto community continues to explore these innovative platforms, the industry is reminded of its early stage, where a single standout application can significantly impact usage statistics and market dynamics.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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