Gemini, a US-based cryptocurrency exchange, has announced the adoption of the trending token created out of meme, Dogecoin (DOGE).
Obviously, Dogecoin has ridden on the news of the adoption to displace the embattled digital currency XRP from the fourth position in the crypto market.
Gemini Lists Dogecoin (DOGE)
Some hours ago, Gemini exchange announced the trading and custody support for Dogecoin (DOGE), the coin described by the exchange as the funnest and friendliest cryptocurrency in the observable universe.
The crypto exchange shared this new development via its official Twitter handle a few hours ago.
Gemini tweeted, “Deposits are now open for DOGE. Keep an eye on our feed for trading updates!”
Deposits are now open for $DOGE. Keep an eye on our feed for trading updates!
— Gemini (@Gemini) May 4, 2021
According to the exchange, deposits for DOGE are now open, while trading opens shortly.
Gemini added that trading will first open for its API/FIX and Active Trader™ applications for USD. Afterward, it will open on Gemini’s mobile and web application on a rolling basis for USD, GBP, EUR, CAD, AUD, HKD, and SGD pairs.
Tyler Winklevoss Reacts to Dogecoin Adoption by Gemini
Tyler Winklevoss, the CEO of Gemini exchange, has also reacted to the vast attention accrued lately by the fourth-largest cryptocurrency by market capitalization, Dogecoin (DOGE).
In a tweet a while ago Tyler described DOGE as people’s money.
Tyler Winklevoss tweeted, “Dogecoin is the people’s money. It’s organic, irreverent, and fun. Gemini now supports DOGE. Deposits are open. Trading to follow shortly.”
— Tyler Winklevoss (@tyler) May 4, 2021
Dogecoin (DOGE) Displaces XRP as the 4th Largest Cryptocurrency
Since the news of eToro’s incorporation of Dogecoin (DOGE), the digital currency has been printing a magnificent price uptrend. The recent Gemini’s announcement only came to complement the positive upside trend.
At the time of filing this report, DOGE is trading at $0.5396, with a relatively 32% price upsurge in the last 24 hours. Its market capitalization now stands at $69.9 billion.
On the other hand, XRP is priced at $1.35, losing relatively 13% of its accumulated price in the last 24 hours. The crypto now manages $61.9 billion market cap. This indicates that XRP has lost the 4th position to Dogecoin (DOGE), a coin that is currently proving to be no joke.