When most people think of crypto adoption, the first cryptos that come to mind are bitcoin, Litecoin, and a few others like XRP. What most people don’t realize is that when it comes to merchant adoption, Dash Coin (Dash) is miles ahead of the rest. At the moment, more than 2000 merchant all across the world now accept Dash (Dash), as seen in the chart below.
Dash Coin adoption is mainly for payments through Dash ATMs as well as for regular payments, including payments for food and other daily conveniences. The country with the highest rate of adoption for Dash is Venezuela, mainly due to the hyperinflation that has hit the country for the last few years.
That’s why the latest round of devaluation of the Venezuelan country could push up its adoption by an even higher margin. News hitting the headlines indicate that the government has decided to further devalue the country’s currency, a move that could lead to more 1,000,000% inflation. For Venezuelans, this only means more price instability, driving an even bigger need for cryptocurrencies, Since Dash (Dash) already has a headstart in adoption in this country, it’s only natural that this latest instability will drive up the demand for Dash (Dash) in that country.
For Dash Coin investors, this only means one thing, a possible price surge in coming days. If a sizeable portion of the Venezuelan population moves to start using Dash, its market value will be affected by this demand.
Such a price-surge could see Dash test $180 within the next few days. The possibility of this happening is visible in the 1 hour chart, where Dash has gained from $147 to $149, even when the other altcoins are sinking deeper in the red. The price had previously ranged at $147, an indicator that this price level could offer short-term support. If buying momentum builds up, the 100-day moving average, at $156 will be the first resistance to the upside. A break above it could see Dash Coin (Dash) test $180 or even higher within the week.
However, even if short-term prices don’t change much, increased adoption in Venezuela points to a situation where Dash actually has a future, as an everyday payments crypto. The precedence set by Venezuela could see other countries going through crisis turn to Dash for payments. With such moves, it won’t take long before Dash becomes the standard for payments all across the world. As this demand grows, the long-term value of Dash will pick momentum, especially when the crypto bear run comes to an end and markets turn for the better.
The best part is that Dash coin (Dash) has a low coin supply of just 8 million, and a capped supply of 18 million. This means that if demand picks momentum, its price would rise pretty fast relative to most altcoins that have billions of coins circulating in the market. Besides, it has a real-demand outside of the speculative value that is characteristic of most coins.