The native altcoin of the decentralized social network DeSo DESO, investors are expanding the project’s content strategy and Circle’s USDC It has been on the rise as it learned of its plans to partially integrate its stablecoin.
DESO Altcoin Rises 25% After Stablecoin News
The decentralized social media altcoin DESO, which was traded at $14 prior to the stablecoin announcement, has surged by approximately 25% after the developments and is trading at $17.24 at the time of this writing.
However, there is cryptocurrency Its total market cap is approximately $160 million, one-tenth from last October.
The altcoin, which describes itself as a decentralized alternative to the giants of social media, says it will allow developers to create “social apps” that cannot go offline.
This ecosystem will likely require payment systems, which will lead to the use of a derivative of USDC, a top-three stablecoin.
DeSo’s Blockchain, Ethereum and wither It will not host a native form of USDC as it does on major networks such as
Project participant Dylan Lee said it will instead issue “DesoDollar” to users who connect their Ethereum-based stablecoins to the ecosystem. Lee stated that DeSo plans to do the same to USDCs of other chains.
The developer explained that “we do not aim to be dependent on a single chain”.
*Not investment advice.
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