Price Analysis

Dash price surges following recent increased adoption

Recently, Dash price has continued to surge following recent increased adoption, such as the new partnership with Kripto Mobile. Additionally, the coin’s price received a major boost after Venezuela provided validity for digital coins amid increased inflation.

Dash price continued to gain traction above $200 following recent increased adoption. The coin’s buyers are currently supported by fundamentals, besides various technical levels have been broke, thus triggering a sustained retracement. Ryan Taylor, the platform’s CEO stated that the coin has received massive validation and acceptance in Venezuela, in an effort to evade the local currency that has been hit by extreme inflation. In fact, he added that Venezuela is the second best market for Dash.

Previously, Dash price had started to decline, and had brushed shoulders with $125.94. Nonetheless, the coin’s price managed to recover after breaking resistance at $140, which triggered an uptrend that saw the coin’s price increase above $200. Currently, Dash is trading at $214 after a 15% surge in the last 24 hours.

The upsurge can be attributed to recent increased adoption of the platform, such as the new partnership with Kripto Mobile Corporation. The company plans to manufacture mobile phones that come with Dash ecosystem, which is pre-equipped.  Also, the phones will contain dash-wallets, as well as the Bitrefill application.

The phones were first introduced during a Caracas conference, and the firm believes that this move will lead to mass adoption of cryptocurrencies among South Americans. The solution, as a result of the partnership, will enable cheaper and faster transactions, something that is desperately needed by the Latin American communities.

Dash has been at the forefront of growing its brand through transactional appeal, with an average 200 new vendors signing up for the service each month. This, in turn, has pushed the coin’s price to new levels amid the bearish markets.

With the recent development, do you see cryptocurrencies becoming the main currencies in future?

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coinmag

Having contributed to many leading financial blogs, Ken's love for cryptocurrencies and the blockchain technology has him on high alert on all price developments within the cryptocurrency sphere.

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