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Dogecoin [DOGE] has experienced an exponential growth in the market since its inception. Currently holds the 22nd position in the list of cryptocurrency classifiers based on CoinMarketCap data. The market capitalization of cryptocurrency has increased by over 24% in one week. Among the positive sentiment of investors, a recent tweet by Kevin Rooke, a cryptocurrency commentator, highlighted one of the main results of the Dogecoin network.
Dogecoin is now in third place among all cryptocurrencies in terms of the number of active addresses. The currency is only behind two major crypto-currencies Bitcoin and Ethereum in the list of active addresses. Pointing to data obtained from OnChainFX, Rooke said that the Dogecoin network has 72,955 active addresses while Bitcoin, the first digital currency has 536,738 active addresses. The Ethereum network included 235,004 active addresses while Tron has a meager 21,255.
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. 🐶 pic.twitter.com/cu7nAWHgGt
– Kevin Rooke (@kerooke) December 17, 2018
The number of active addresses measures the value of the cryptocurrency network. Dogecoin also shows an increase in the number of active addresses since December 2017. While many cryptocurrencies can boast over a million unique addresses on the network, the number of active addresses remains low.
A recent report published by Etherscan indicated that the unique addresses on the Ethereum network exceeded 50 million. The relationship stated that the highest increase of addresses on the network was registered in 2018. However, there are only 235,004 active addresses on the network, looking at the OnChainFX data. This implies that a paltry 0.46% counts for the number of Ethereum addresses active on the network.
Dogecoin has reached the major cryptocurrencies belonging to the 20 major cryptocurrencies in terms of active addresses. The cryptocurrency based on the Doge meme gained popularity among the cryptic community. At the time of writing, DOGE is trading at $ 0.0026 with a market capitalization of $ 308 million.
Image via Shutterstock
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