The crypto market appears headed for major gains with the market leader; Bitcoin seeks to hit the $7,000 mark. Dash Coin (DASH) is among the top gainers after its entry to the Venezuelan market. This comes at a time when the Dash Coin CEO, Ryan Taylor is facing the sack. The price surge across the entire market could see a renewed rally and a boost on investor confidence.
The Dash Coin entry into the Venezuelan market timing could not have come at a better time: the local Venezuelan currency, Boliver, has hits worst lows in recent time and according to CEO at Dash, Taylor, this is set to spur the DASH coin uptake going forward. With the demand for crypto creeping back, this is a boost for Dash (DASH)
Old Good Times coming back to the Dash Coin and Crypto Verse
With signs of the market slump getting some reprieve, recovery has been recorded with select coins having a field day. Dash (DASH) has hit the green double digit zone after gaining 20.97% to trade at $174.44. The Dash ecosystem has been working behind the scenes and this has attracted the larger market attention and the results are already being felt.
According to the CoinMarketCap charts, DASH Coin hit past the $200 mark earlier in the day and this is attributed to its value proposition offering into the Venezuela market that continues to grapple under the current crisis. Dash coin has presented itself has the best alternative transaction outfit that targets the smartphone users.
Dash Coin (DASH) Performance Recap
It had not been a good year for DASH Coin since the December-January crypto boom and the coin has been shedding its gains to dip past the $100 market and the price has been on and off the green zones. The 95% devaluation of the Boliver currency and backing it with the government owned and oil linked Petro digital coin has seen the annual inflation skyrocket by 1,000,000%.
Locals in Venezuela are embracing cryptocurrencies and DASH Coin is offering the payment vehicle that they desperately need. The coin is adding more 200 vendors monthly to sustain the demand. Kelvin Klein and Subway are some of the vendors the Dash Coin has enlisted.
New Dash Coin Partnership
The current price surge has been spurred by the demand and the partnership with Kripto Mobile Corporation (KRIP), a South American outfit that runs crypto enabled smartphones, seems to have come at the right time. According to the Dash CEO, KRIP will increase adoption by over 10,000 monthly.
“Our partnership with Kripto will put all the components needed to use Dash preloaded into the phones of 10,000 new Venezuelan consumers every month.”
This is a major boost and sound partnership since “the KRIP phones will have a Dash wallet to store Dash, services to obtain Dash, and the Bitrefill app to enable spending on various services”.
“This complements the over 1,000 merchants already accepting Dash in Venezuela, and really addresses the chicken and egg problem of attracting both consumers and merchants to our growing ecosystem,” concludes Taylor.
DASH Coin Good and Dash Coin Bad News
The good news and DASH Coin price surge comes at a time when the Dash CEO is threatened by dismissal. The Dash holder is celebrating the good DASH Price news while it could be bad news for Taylor after being criticized in a proposal that might see him out of Dash Coin:
“If this proposal does not pass in this cycle, I will still submit two other ones on the next: one to fire Fernando and another to fire Bradley. Also on 2019 Jan 01, I will submit this exact same proposal again. Let’s see how many of you change your mind after realizing Evolution was not delivered, and deadlines from the roadmap were missed yet again.”
The proposal by one “SavingPrivateDash” might not be the true feeling of the community and might not hold much water but if it does, it could see Taylor out of running the Dash affairs in the future. As of now, the Venezuelan deal is set to hype the DASH coin and the community appears appreciative of the platforms development progress so far,
“Ryan destroyed the market’s confidence in Dash by repeatedly breaking promises and missing deadlines. Vault accounts, usernames, friends’ lists, easy to use mobile wallets, marketplace. None of the 2016 promises were kept. Even Amanda Johnson, once Dash’s biggest fan and now nowhere to be seen, said publicly she would give DCG until Dec 31 2018 to deliver on Evolution.”