After the introduction of the new DRC-20 standard, Dogcoin (DOGE) surpassed Bitcoin (BTC) in daily trading on Wednesday.According to the latest data from blockchain tracking agency BitInfoCharts, the daily trading volume of the DOE blockchain has reached a historic high, even surpassing the highest market value cryptocurrency asset
After the introduction of the new DRC-20 standard, Dogcoin (DOGE) surpassed Bitcoin (BTC) in daily trading on Wednesday.
According to the latest data from blockchain tracking agency BitInfoCharts, the daily trading volume of the DOE blockchain has reached a historic high, even surpassing the highest market value cryptocurrency asset.
The DRC-20 standard is a set of rules that developers can follow to create tokens on the Dogcoin network. They are created using the same technology as cryptocurrencies, but are usually not used as currency. On the contrary, they are used to represent ownership. The DRC-20 standard is similar to Bitcoin's BRC-20 standard.
Data shows that from May 10th to May 11th, the second day after the introduction of the DRC-20 token, the transaction volume on the Dogcoin blockchain increased nearly tenfold from 48547 to 456491. Just two days later, this number soared to 628209, and then plummeted all the way to 88453.
However, on May 17th, the transaction volume of memecoin reached over 1.1 million, easily surpassing the Bitcoin King cryptocurrency BTC, which had about 580000 daily transactions at that time.
The data shows that this marks the second time that the trading volume on DOGE has exceeded the trading volume on BTC. The first time was in December 2013, shortly after the launch of Dogcoin, when Bitcoin had approximately 67000 transactions and DOGE had approximately 92000 transactions.
At that time, until around mid February 2014, the daily trading volume of DOGE exceeded that of BTC.
At the time of writing, the trading price of Dogcoin was $0.074, which has slightly declined in the past 24 hours, while the value of Bitcoin was $27017, which increased by 0.85% on the last day.
Due to the new DRC-20 standard, posts that surpass Bitcoin (BTC) in daily transactions for Dogcoin (DOGE) first appear on TheDailyHodgl.
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