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 right now, marking a 102% improve from its seven-day low of $5.43
The 226th-ranked crypto asset by market cap has retraced because the weekly excessive, but it surely stays up almost 40% up to now 24 hours, buying and selling at $10.32 at time of writing. Regardless of the slight pullback, DESO continues to outperform all different crypto belongings inside the high 300 by market cap rating.
The Coinbase-backed layer-1 blockchain mission goals to redefine the character of social media functions 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 best way for DeSo to grow to be the cross-chain social layer for all Net 3.0,” in keeping with a press release from the mission.
Explains DeSo founder Nader Al-Naji,
“Present 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 functions like social.”
Decentralized Social has so far operated within the Ethereum (ETH) ecosystem, however the mission additionally plans to develop to Solana (SOL).
Regardless of the positive factors this week, DESO stays down nearly 95% from its all-time excessive of $198.68, which it hit in June of 2021.
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