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Dogecoin [DOGE] It started as a joke but became the 21st largest Cryptocurrency with one of the most active networks in Crypto. Cryptocurrency has the largest number of active addresses after Bitcoin [BTC] and Ethereum [ETH].
Kevin Rooke, a Crypto analyst, published his results on Twitter. In his tweet, Kevin points out that Dogecoin has more active addresses than all other cryptocurrencies, apart from Bitcoin and Ethereum.
"Dogecoin has an average of several daily active addresses in December 2018 compared to December 2017. Dogecoin also has more daily active addresses than all cryptocurrencies except Bitcoin and Ethereum." Many users Many adoptions. "
According to OnchainFX, a market analysis company for cryptocurrencies, Dogecoin has had over 72,955 active addresses, which is third only for Bitcoin 536,378, and 235,000 active Ethereum addresses in the last 24 hours. Litecoin which has around 71,000 active addresses. Both XRP and Tron have only fewer than 30,000 active addresses.
Image source: CoinMetrics.io
With a closer look at the data from Coinmetrics.io, it is clear that Dogecoin has more active addresses than last December during the speculative mania. Over the course of the day, the network has transacted over $ 260 million dollars, exceeding $ 163 million from Ethereum
Blockmanity reported earlier that most of the volume of Dogecoin (over 95%) comes from onchain transactions rather than trading activities. This shows that DOGE is used for its real usefulness rather than for speculation on the part of traders on the stock exchange.
Dogecoin recently celebrated its fifth year of life. The meme coin has found its usefulness in the American flagship economy as it is ideal for microtransactions, DOGE has also been used to raise money for charity and has a thriving community.
The capitalization of Dogecoin has been relatively stable in this bear market. In the last 4 weeks, the market capitalization of Dogecoin has fluctuated between $ 240 million and $ 270 million. Dogecoin is currently the 21st largest cryptocurrency in terms of market capitalization.
Read also:
Dogecoin remains stable among bears
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