On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
DOGE is estimated to have represented up to 5% of all crypto volume during the second quarter of 2021.
Trading volume for Dogecoin increased by more than 13 times during the second quarter for 2021, nearly tagging $1 billion daily.
According to data compiled by Coinbase and reported by Business Insider, Dogecoin trading volumes soared 1,250% between April and June, with $995 million worth of DOGE changing hands daily on average during the quarter.
By comparison, Dogecoin’s average daily volume for the first quarter was $74 million.
Dogecoin started the year priced at just $0.004 and saw its first uptick in early February when prices jumped 50% when Tesla CEO Elon Musk embarked on his Twitter-shilling campaign in support of the meme-coin.
A massive rally was to follow as Musk ramped up the Dogecoin hysteria, sending the Shiba Inu-themed coin to an all-time high of $0.731 on May 8. The move culminated in a whopping 18,000% gain since the beginning of the year.
Despite many crypto commentators attributing Dogecoin’s meteoric 2021 performance to Twitter-shilling from Tesla CEO, Elon Musk, Business Insider speculates that Dogecoin’s impressive performance would not have been possible without the spate of DOGE listings on major exchanges witnessed during Q2 — including Gemini and eToro in May, and Coinbase in June.
According to Coinbase’s data, the second quarter also saw global cryptocurrency trading volume increase by 32% overall, with nearly $19 billion worth of digital assets changing hands daily. The data suggests that DOGE represented more than 5% of combined crypto volume during Q2.
However, in its quarterly cryptocurrency report, GoinGecko estimates roughly $81 billion worth of digital assets were traded daily during Q2, indicating DOGE comprised 1.2% of quarterly crypto volume.
Related: Triple-digit gains make Dogecoin and Ethereum Classic the top performers of Q2
Despite the record rally, Dogecoin has suffered extreme losses since its all-time high, having plummeted 75.3% from its May 8 all-time high of $0.181, according to CoinGecko. However, DOGE is still up 4,425% since the start of 2021.
The Tesla CEO appears to have returned to his DOGE-shilling ways, changing his Twitter profile picture to done “Doge-eyes” on July 18 to show his ongoing support for Dogecoin.
While DOGE quickly spiked 18% over two hours in response to Musk’s new profile image on Sunday, its gains were quickly erased, with the meme-coin now trading 2.5% higher than it was prior to Musk changing his profile picture.
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