Coinbase Announced A Give Away of $1.2 Million in Dogecoin
On Thursday Coinbase said that it plans to give away $1.2 million in dogecoin to encourage users to take advantage of its newest cryptocurrency trading option.
The company said that the Users must buy or sell $100 in DOGE through Coinbase by June 10 to be eligible for the sweepstakes,. Coinbase said it plans to give out one prize worth $300,000, 10 prizes worth $30,000, and 6,000 prizes worth $100 by June 17.
The sweepstakes follows the company’s announcement on Tuesday that it would start letting Coinbase Pro users trade dogecoin on its platform.
dogecoin’s value climbed by as much as 41% after This announcement, along with a tweet from Elon Musk referencing the meme currency.
Dogecoin had the sixth-largest market cap among all cryptocurrencies At $52.3 billion, as of Thursday evening, according to CoinMarketCap, after seeing a massive rally in May that sent its market cap soaring to more than $85 billion.
In 2013 Dogecoin was started as a joke by two engineers, but has since gained immense popularity thanks to Redditors as well as endorsements from Elon Musk and other celebrities, leading other crypto trading platforms like eToro, Robinhood, and Gemini to start accepting trades in recent weeks.
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