Dogecoin (DOGE) is now officially the second largest PoW crypto in terms of market cap
After The Merge, altcoins experienced significant volatility. In there, Dogecoin now only trails Bitcoin as the biggest Proof-of-Work (PoW) cryptocurrency.
Dogecoin becomes the second largest PoW cryptocurrency
Ethereum’s transition to PoS may have added pressure on PoW-powered cryptocurrency networks to transition to a more sustainable consensus mechanism.
Dogecoin, a popular memecoin, is still comfortably ahead of the third-place PoW cryptocurrency Ethereum Classic (ETC), which has a market cap of $4.69 billion, as well as Litecoin (LTC), which has a market cap of $4.01 billion, and Monero (XMR), which has a market cap of $2.65 billion. Of course, Bitcoin (BTC) continues to be far ahead of Dogecoin, which has a market cap of $7.
Ranking of PoW-Based Cryptocurrencies by Market Cap | Source: Coinmarketcap.com
Additionally, according to the official Twitter account of the ETHPoW, which is presently trading at $13.64, Dogecoin may soon find itself in competition with ETHPoW, the Ethereum PoW hard fork chain that will continue mining.
In another development, BigCommerce, a large provider of software for merchants, has entered into a strategic partnership with two crypto payment services, BitPay and CoinPayments. Tens of thousands of companies using BigCommerce services are expected to be able to accept and process crypto transactions as part of the ternary alliance.
The implementation of Bitpay and CoinPayments services will allow merchants to accept the most popular cryptocurrencies, such as Dogecoin, Shiba Inu, Ethereum, and, of course, Bitcoin. This is another major step for both crypto payments start-ups and cryptocurrencies, which are increasingly being accepted by various venues as a means of payment.
On BigCommerce, the public will be available to pay for the goods and services of tens of thousands of stores in many countries. For example, among the clients of BigCommerce are such companies as Reebok, Vodafone, and American Apparel. Among the merchants are many specialized marketplaces of different areas and interests.
While DOGE is being accepted by more and more merchants and approves itself as a full-fledged payment option, the legal passions around cryptocurrency are gaining momentum.
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