Coinbase’s e-commerce platform officially announced that it would accept Dogecoin as a payment method on Wednesday.
Dogecoin became the fifth cryptocurrency supported by Coinbase trading after Bitcoin (BTC), bitcoin cash (BCH), Ethereum (ETH), Litecoin (LTC), and USD Coin (USDC).
Thanks to the stimulus of these bullish factors, Dogecoin is up 5.95% in 24 hours. As of this writing, it is trading at $ 0.1909, according to Coinmarketcap.
Coinbase, as one of the leading US cryptocurrency exchanges, has always displayed a friendly attitude towards Dogecoin. Already on June 2 of this year, Coinbase announced that Dogecoin would be available to trade on Coinbase Pro accounts.
Coinbase Commerce is an enterprise blockchain services platform under Coinbase dedicated to facilitating cryptocurrency transactions between customers and merchants.
Although the recovered memecoin Dogecoin may not be included in the scope of the S&P Cryptocurrency Broad Digital Market (BDM) index due to the lack of a white paper this time, the market value of Dogecoin is still among the top 10 cryptocurrencies by capitalization of market.
BDM Index is a representative S&P global index officially launched on the 13th of this month, which is designed to track the performance of listed digital assets on recognized open digital exchanges. This index includes 243 digital assets, but Dogecoin is not included.
Dogecoin itself is ranked as the eighth largest cryptocurrency with a market capitalization of $ 24,819,266,338, as massive publicity from Elon Musk and billionaire investor Mark Cuban helped redefine the usefulness of the coin.
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