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.