Coinbase is rolling out support for a crypto newcomer across its full suite of retail trading applications.
The leading US-based crypto exchange says it’s adding Decentralized Social (DESO) to Coinbase.com, as well as the platform’s iOS and Android apps.
Early this week, Coinbase added DESO to its professional trading platform, Coinbase Pro.
The sudden support from the crypto trading giant has fueled a 74% rise in the price of the altcoin in just two days – from $94.12 to a high of $164.20.
Decentralized Social describes itself as a layer 1 blockchain designed to allow developers to easily create fast and proprietary social media apps.
DESO is the platform’s native asset and is used to pay for the purchase of social tokens, non-fungible tokens (NFTs), as well as to create profiles and posts on decentralized apps.
The project was started by Nader Al-Naji, who also launched the social media platform BitClout.
It has raised more than $200 million from a number of venture firms including billionaire Chamath Palihapitiya’s Social Capital.
DESO joins a long list of altcoins that have come to Coinbase this year, including the recent additions of API3 (API3), Bluezelle (BLZ), Gods Unchained (GODS), Immutable X (IMX), Measurable Data Token (MDT), Ribbon Finance (RBN) and Circuits of Value (COVAL).
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