Hitwise has reported that Facebook’s share in the visits to social networking space in the US has increased by a staggering 50%. That being said, it should also be mentioned that MySpace is still leading on the top with a share of 67.54%, while Facebook is second at a much lesser 20.56%. Another thing to take into consideration here is that when compared to August 2007, Facebook has gone up 50% where as MySpace has dropped by 10%.

Facebook has seen the number of users rise despite the fact that there have been some issues with its members displaying a significant lack of acceptance for their new design. The total traffic coming to social networking websites has also declined by 17%. Facebook’s rise is happening at an impressive rate but it still has some road to cover before it surpasses MySpace.

The top 5 Rankings in August, 2008 (US internet visits to social networking websites), by Hitwise:

1. MySpace- 67.54% (dropped 10%)
2. Facebook- 20.56% (increased 50%)
3. myYearbook- 1.65% (increased 256%)
4. Tagged- 1.53% (increased 147%)
5. Bebo- 0.94% (decreased 32%)