Dogecoin Becomes 2nd Largest PoW-Cryptocurrency Behind BTC

Meme crypto Dogecoin (DOGE) has taken the second place in terms of market capitalization among blockchains based on the Proof-of-Work (PoW) consensus algorithm after the migration of Ethereum to Proof-of-Stake (PoS).

According to the asset fans:

“Who would have thought that this would happen. Congratulations to the community.”

With a total market value of almost $8 billion, Dogecoin is behind Bitcoin, whose market cap amounts to $378.2 billion, whereas in the 3 place we have Ethereum Classic with a capitalization of $4.66 billion.

Some experts assume it was the ETC network the one that would be the main beneficiary of the transition of Ethereum to PoS.