Farcaster, a decentralized social networking protocol, gained attention in March this year with the memecoin project Degen. 🚀 Degen brought the Farcaster ecosystem to the agenda with a 20-fold increase and a market value of over 1 billion dollars. 😮 Merkle Manufactory, the developer of Farcaster, closed a new funding round led by Paradigm in May, raising a total of $150 million. 🎉 However, Farcaster's total number of users reached 540 thousand people, and the number of daily active users increased 28 times since the beginning of the year, reaching 56 thousand people. 📈 This enabled Farcaster to gain a prominent position among social network projects. However, Farcaster still has growth potential and this could be an interesting opportunity for cryptocurrency investors. 🧐