DEGEN token, which was launched at the beginning of this year, gained more than 50% in value during the week.
Decentralized social media protocol from Farcaster, Paradigm, a16z crypto, Haun, USV, Variant, Standard Crypto and several other investors $150 million collected.
Using the Ethereum blockchain, Farcaster thus unicorn reached the status and $1 billion achieved valuation.
Farcaster founder Dan Romero for the rest of the year daily active user to increase the number and add new channels to the protocol. direct messaging He said they will focus on adding the feature.
Activity on the Farcaster network has been ongoing since October last year It grew 50 times.
Degen’s token, DEGEN, a community channel on the Farcaster protocol, began to rise rapidly after the investment news. According to TradingView data, DEGEN gained 53.22% during the week and rose to $0.023.