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SocialFi Platform Farcaster Sees 60% Decline in User Activity Over Six Months
SocialFi Platform Farcaster Sees 60% Decline in User Activity Over Six Months
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Farcaster, a decentralized social finance platform, has experienced a sharp 60% drop in Cast (posting) activity over the past six months. Daily Casts plummeted from over 600,000 to roughly 250,000, signaling waning user engagement despite robust investor support.
The platform, often likened to a hybrid of X (formerly Twitter) and Reddit, enables crypto-native discussions and media sharing. This downturn raises questions about the sustainability of SocialFi models amid shifting user behavior.
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