DESO (Decentralized Social) rose by 50.27% in 24 hours.

Gate News Bot news, on October 10, according to CoinMarketCap data, as of the time of writing, DESO (Decentralized Social) is currently priced at $8.04, with a rise of 50.27% in the last 24 hours, peaking at $8.52 and dipping to a low of $4.99, with a 24-hour volume of $64,600. The current market capitalization is approximately $71.4 million, an increase of $2.39 million compared to yesterday.

DESO is the first layer-1 blockchain built from the ground up, aimed at decentralizing social media and scaling storage-intensive applications for billions of users. DESO is the only blockchain capable of supporting storage-intensive applications, combining financial primitives with inexpensive content storage. It enables developers to easily build a variety of applications, such as social networks, NFT markets, DAO tools, order book exchanges, and monetize through features like social tokens, NFTs, DAOs, crypto tips, and paid private messages.

Important recent news about DESO:

1️⃣ DESO Launches Million Dollar Developer Rewards Program The DESO Foundation has announced a $1 million bounty program aimed at encouraging developers to build a decentralized Reddit alternative on its platform. This initiative indicates that DESO is actively promoting the expansion of the ecosystem, which is expected to attract more developers and enhance the platform's functionality and user base.

2️⃣ Decentralized social media is gaining industry attention With traditional social platforms facing a trust crisis, decentralized social media is becoming a new focus in the cryptocurrency industry. DESO, as a blockchain project focused on decentralized social networking, has gained market recognition for its unique positioning and technological advantages, driving an increase in investor interest in the DESO token.

3️⃣ DESO is regarded as the leading project in the decentralized social space Industry insiders link DESO with the decentralized social vision of Twitter founder Jack Dorsey and Tesla CEO Elon Musk, believing that DESO could become the key technological foundation for realizing this vision. This high level of recognition further enhances DESO's status among investors and users.

From a technical perspective, the price of DESO has broken through previous resistance levels, showing strong upward momentum. However, considering the significant rise in the short term, investors should be wary of potential pullback risks.

This message is not an investment advice, and investors should be aware of market volatility risks.