New social media platform Farcaster has its own booming crypto coin, Vitalik Buterin is a fan

Vitalik Buterin, founder of Ethereum, has been less active on X in the past few months. Even Elon Musk recently commented on it. We’ve now learned that Vitalik is spending more time on a new social media platform called Farcaster (www.warpcast.com).

As he can have more discussions there with crypto developers and people interested in longevity and other issues he’s more interested in. That platform now has its own cryptocurrency called Degen, which rose by 85% at a certain point yesterday.

Degen (Base) can be traded at Bybit and MEXC.

Merkle Manufactory

Elon Musk, the CEO of Tesla and SpaceX and owner of X (formerly Twitter) is an advocate of freedom of expression (known in the US as 1A or the ‘first amendment’). Disney, for example, prefers to keep it family-friendly and therefore decided a few months ago not to run adverts on X anymore.

Musk therefore needs celebrities more than ever to keep X interesting. Vitalik Buterin is such a celebrity as he has 5 million followers on X. Given that crypto is having another very good year it is imperative for Musk to keep Vitalik on X. So when someone recently asked why Buterin wasn’t appearing on X lately, Musk joined into the discussion, asking why Vitalik had left.

Why did he leave?

— Elon Musk (@elonmusk) March 25, 2024

It now appears that Buterin (https://warpcast.com/vitalik.eth) has lately been mainly posting and discussing on Farcaster, a newer and smaller social media platform. It actually started in 2020 but has really been booming since this year. In a recent interview, Vitalik explained that there are indeed more people present on X, but that he faces less criticism on Farcaster.

this is (part of) why I do most of my tweeting on farcaster these days

srry 4 ratio-ing

— vitalik.eth (@VitalikButerin) January 21, 2024

Degen (Base) soars 85%

Farcaster is part of Merkle Manufactory, the company of two former Coinbase executives. Thanks to the success of Farcaster, among other things, Merkle Manufactory was valued at $1 billion this week, as Bloomberg reported.

The $degen chart is also a wild one recently.

Peep the massive volume candle today.

quick 5x above the breakout level.

Organic @farcaster_xyz community memecoin. Integrating into different ecosystems and now with its own L3.

narrative stuck out first time i heard of it pic.twitter.com/hK3t1fO1bu

— Serpunk (@serpunketh) March 31, 2024

The social media platform now also has its own cryptocurrency called ‘Degen’ (with which posters can reward each other for good content), which has recently been traded on various crypto platforms. Investors are very enthusiastic about the small crypto and sent Degen up 85% yesterday.