Introduction

In 2024, Farcaster grew by 712,000 new users—but its biggest growth month may have little to do with Frames or Degen. Such insights and more will be looked at in this article. Let's dive into the data.

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ANALYSIS

Reach

• Total new users gained in 2024 – 712k

• December 2024 saw a resurgence with 36.5k new users, the highest since July.

• Interestingly, June(with 133k new users) is the month with the most new users not February(which had 127k).

• June’s growth may have been due to a perfect mixture of a variety of events – popularity of degen, frames and mainly due to the 150M $ fundraising announcement in late May.

• Enough evidence that the funding announcement played the main role will be presented later.

Total FIDs that casted at least once this year (including deleted casts) – 533,989

Active Casters

• DAU peaked in July 2024 at 73,700 but dropped to 36,000 by year-end.

• Despite the drop, year-end DAU was similar to February’s peak of 40,000

• MAU peaked in July 2024 at 238k and ended the year at 195k (down 18% from the peak).

• MAU performance was stronger than DAU and WAU, indicating that users are still engaging with the platform monthly, even if not daily or weekly.

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Ticker Posting Decline

• Daily ticker-posting casters peaked at 28,000 in February but dropped to 7,000-8,000 by year-end.

• The recent addition of clickable tickers has not changed things

The Rise and Fall of channels

• Channel Dominance:

  • Early 2024: Over 70% of posts happened in channels.

  • September 2024: Less than 50% of posts were in channels.

• Channel Changes:

  • Channels became membership-only in October, leading to a significant drop in usage.

  • Introduction of public channels failed to revive engagement.

Retention

•   The month of April has the weakest 6 months retention(20%)

•     The months of may and June were big yet they have the best 6 months retention after January(which was the  smallest month)

•    June, not Feb, was the biggest cohort month of new casters

Trending Channels

• Popular Farcaster channels include mainstream topics like frames, base, memes, farcaster, and degen

• Many less prominent channels gained temporary popularity, including perl, farcastles, zora, drakula, goat, paidgroup, masks, scoop, wildcardclub, airstack(moxie), lunchbreak, and scout-game

• The data reveals numerous trends on Farcaster, with most remaining contained within the platform regardless of their intended reach

• After October's channel changes, top channels experienced a significant decrease in post volume, though the number of unique posters remained relatively stable

• New trending channels emerged post-changes, including itookaphoto, rodeo-club, aether, pvpgame, moxie-korea, spotlight, and yoink, which have maintained steady performance

Trending Words

• Trending words follow similar patterns to channel popularity trends

• $degen emerged as a trend in January, peaked between late February and April, then saw reduced usage from late June through August

• Other notable trending terms and their peak periods:

  • frame/frames: Late January

  • farcastle-related terms: Late February

  • Drakula-related terms: March

  • goat: Early April

  • moxie: Late July

  • basenames: August

  • trump: November

Changes and trends leading to growth

Some of the major trends and changes that led to FC's growth were

• Degen (main boost in Feb and April)

• Frames(main boost in April)

• 150 million dollar announcement(boost in May, June)

• Moxie( boost in July) - Most people fade Moxie but it did play a minor role in boosting the numbers of new users

How am i SO sure that it was the 150M funding announcement(and not $DEGEN or frames) that brought in the new users? And what does it mean for Farcaster's marketing strategies?

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The full 24 page Article Includes -

• Looking at AI agent mindshare on FC

• A deeper look into trending channels, words and trending tickers over the year

• Analysis of how different trends attracted different types of users

• More Retention charts and analyses!

• And more!

I will be looking deeper into - AI agents on Farcaster, FC X solana data among other things. So subscribe now to get the alpha!

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