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In a recent tweet, the Dogecoin team reacted to an adoption milestone for the first and largest meme cryptocurrency, Dogecoin (DOGE).
According to reports, Buenos Aires' "BA Cripto" policy package allows residents and businesses to settle city taxes and administrative fees using cryptocurrencies, including Dogecoin.
Reacting to the report, Dogecoin official X account tweeted "Doge is everywhere."
Buenos Aires continues to position itself as a crypto hub. In November this year, Binance announced it had signed a collaboration agreement with the government of the city to promote safe and responsible cryptocurrency adoption.
Part of the agreement is an awareness initiative, "Live Crypto in Your City," launched by Binance and the city to inform residents about how cryptocurrencies work and how they can be used securely. The campaign highlights practical use cases for digital assets, helping more citizens experience crypto as a tool for empowerment.
This week, Vanguard Group, the world’s second-largest asset manager, announced its decision to allow ETFs and mutual funds that primarily hold cryptocurrencies to be traded on its platform, reversing a longstanding position.
Dogecoin price
Dogecoin reversed a two-day rise on Dec. 4. The drop has entered its second day, with Dogecoin down 3.53% in the last 24 hours to $0.144 and down 4.25% weekly.
U.S. macroeconomic data and institutional developments influenced market sentiment and volatility at the start of the week. Vanguard opened access to crypto ETF trading for clients earlier this week, and Bank of America told institutional customers they may allocate 1%-4% of their portfolios to digital assets. The CME launched a VIX-style implied volatility index for Bitcoin futures, with other altcoins to follow.
However, momentum remains soft, with recovery attempts fading in a sign that liquidity is still thin above current levels.
Liquidation data reveals a total of $298 million over the past day across the crypto market, with nearly $218 million in long liquidations and $80.13 million in shorts.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team