My view on facebook overtaking Myspace in traffic

According to Alexa traffic statistics, we could see that facebook.com traffic has successfully overtook myspace.com on 21th Nov 2007 (was roughly on par on 20th Nov) as seen in the picture below.



So well congrats to facebook, you finally did it. :P
There's a few factors which contributes to facebook's exponential rise in traffic over the past few months.

Firstly, the 3rd party applications API that facebook has developed has on 27th November, 9000 over applications.
Lots of developers are starting to develop programs in facebook, personally I tried to create using the demo code found on facebook developers site but to no valid. Only today after talking to my webhoster that I realise that they did not upgrade my webhost to php 5.0 which they did so afterwards :P . Also, even schools have launched modules on facebook application development which greatly increases the traffic in facebook.

Secondly, for users , the large amount of applications attracted them to stay in the site for a long time. Certain games allow them to have referral credits which they would ask their friends to join facebook and the games which they are playing and of cos attract more users :P

But perhaps I'm a bit biased towards facebook because I'm living in Asia and Myspace doesn't create the impact in Asia as far as friendster and facebook has which I'm not sure why it is either.

Well, let continue to see these social networking war as how long the hype will last or will there be anymore competitors rising ?