A social media-focused altcoin is surging this week after the announcement of a brand new partnership with the favored crypto pockets MetaMask.
Decentralized social media platform Decentralized Social (DESO) rallied to a weekly excessive of $11 as we speak, marking a 102% enhance from its seven-day low of $5.43
The 226th-ranked crypto asset by market cap has retraced for the reason that weekly excessive, however it stays up practically 40% previously 24 hours, buying and selling at $10.32 at time of writing. Regardless of the slight pullback, DESO continues to outperform all different crypto property throughout the prime 300 by market cap rating.
The Coinbase-backed layer-1 blockchain undertaking goals to redefine the character of social media purposes by resolving scalability limitations in addition to defending customers and content material creators from centralized authorities.
Decentralized Social’s new integration with MetaMask “paves the way in which for DeSo to turn out to be the cross-chain social layer for all Net 3.0,” in line with a press launch from the undertaking.
Explains DeSo founder Nader Al-Naji,
“Current blockchains can’t retailer content material effectively. It prices about $50 to retailer a 200-character Tweet on Ethereum and about fifteen cents to retailer it on Solana, Avalanche or Polygon. In distinction, DeSo is one ten-thousandth of a cent, making it the primary blockchain able to disrupting storage-heavy purposes like social.”
Decentralized Social has to this point operated within the Ethereum (ETH) ecosystem, however the undertaking additionally plans to broaden to Solana (SOL).
Regardless of the good points this week, DESO stays down virtually 95% from its all-time excessive of $198.68, which it hit in June of 2021.
Do not Miss a Beat – Subscribe to get crypto electronic mail alerts delivered on to your inbox
Examine Value Motion
Observe us on Twitter, Fb and Telegram
Surf The Each day Hodl Combine
Disclaimer: Opinions expressed at The Each day Hodl should not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses you could incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in internet affiliate marketing.
Featured Picture: Shutterstock/eva cool