Cryptocurrency Dogecoin is not only experiencing substantial price gains, but its adoption has increased in recent months as well. A U.S.-based crypto payments company, BitPay, declared the rollout of Dogecoin payments for merchants and customers. The company stated that Dallas Mavericks, an American professional basketball team, will be the first one to accept Dogecoin. Conversing about Dogecoin payments, BitPay’s CEO Stephen Pair states the NBA franchise helps to pave the way for cryptocurrency adoption.
As per the official announcement, the NBA team will receive Dogecoin for tickets and merchandise. Dallas Mavericks became the first NBA team in 2019 to accept Bitcoin as a payment method for match tickets and merchandise. The American Billionaire and the owner of Dallas Mavericks, Mark Cuban, has always remained vocal regarding Bitcoin and other cryptocurrency assets in the past. Recently, the NBA club is utilizing the services of BitPay to process all crypto payments. It involves top digital assets such as BTC, BCH, ETH, GUSD, USDC, PAX, BUSD, and now Dogecoin.
Dogecoin witnesses increase in adoption
Mavericks, owner Mark Cuban, lately advised Bitcoin naysayer Peter Schiff that gold would terminate to exist as a store of value as variations in cryptocurrency make it simpler for people. Dogecoin, which began as an internet meme, has lately developed to a near $10 billion market capitalization. Dogecoin received popularity earlier this year, even exceeding Bitcoin in tweet volumes, post the same Reddit crowd that pumped GameStop concentrated their efforts on DOGE.
Moreover, Elon Musk’s warm welcome of the meme-based coin also added to its development. Further, CoinFlip, one of the biggest Crypto ATM providers in the U.S., declared earlier this week that DOGE is accessible at the company’s network of over 1,800 ATMs across 45 states in the U.S. Recently, the price of Dogecoin is hanging at approximately $0.049, which is up more than 1,000% since the commencement of 2021.
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