Decentralized Social Network (DESO) Surpasses the Crypto Market and Surges 102% This Week Thanks to Integration with MetaMask

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A social media-focused altcoin is popping up this week following the announcement of a new partnership with popular crypto wallet MetaMask.

Decentralized social media platform Decentralized Social (DESO) hit a weekly high of $11 today, marking a 102% increase from its seven-day low of $5.43

The 226th-ranked crypto asset by market capitalization has retreated from the weekly high, but it remains up almost 40% in the past 24 hours, trading at $10.32 at the time of writing. Despite the slight pullback, DESO continues to outperform all other crypto assets in the top 300 by market cap ranking.

The Coinbase-backed Layer 1 blockchain project aims to redefine the nature of social media applications by solving scalability limitations as well as protecting users and content creators from centralized authorities.

Decentralized Social’s new integration with MetaMask “paves the way for DeSo to become the cross-chain social layer for all of Web 3.0,” according to a press release from the project.

Explains DeSo founder Nader Al-Naji,

“Existing blockchains cannot store content efficiently. It costs around $50 to store a 200 character Tweet on Ethereum and around fifteen cents to store it on Solana, Avalanche or Polygon. In contrast, DeSo is one ten thousandth of a hundred, making it the first blockchain capable of disrupting storage-intensive applications like social media.

Decentralized Social has so far operated in the Ethereum (ETH) ecosystem, but the project also plans to expand to Solana (SOL).

Despite this week’s gains, DESO remains down almost 95% from its all-time high of $198.68, which it reached in June 2021.

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Featured Image: Shutterstock/eva cool

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