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Dash Price Rises More Than 20% Following Hyperinflation In Venezuela

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The price of DASH is right now experiencing a price surge. The thirteenth largest cryptocurrency by market cap has risen about 20% in the space of 24 hours after Venezuela indicated that it is experiencing a solid increase in adoption by its users.

With this, DASH rose over 20% in only 2 days – from $145 to its current price of $194, coming close to the $200 margin and building a solid market cap of $1.6 billion.

More and more Venezuelans are fleeing the bolivar’s six-figure inflation rate. According to reports by CCN, the Venezuelan president Nicholas Maduro announced the creation of the “Sovereign Bolivar” which will be a new currency replacing the near-worthless bolivar, which had an inflation rate of 100,000 percent. The new bolivar will be pegged to the value of Petro, which is a new state-sanctioned digital currency backed by the country’s oil production.

In times when Venezuela’s annual inflation rate is projected to hit 1,000,000% by the end of this year, Venezuelans have balked at the new arrangement and seem to like to stick with the stability offered by Bitcoin and other cryptocurrencies.

The CEO of Dash Core Group talked to Business Insider about the current situation in Venezuela and the adoption of DASH, stating the following:

“We are seeing tens of thousands of wallet downloads from the country each month. Earlier this year, Venezuela became our No. 2 market, even ahead of China and Russia, which are, of course, huge into cryptocurrency right now…It took them a long time to get the first 50, first 100, but at the beginning of July, the number was around 400, and we’re already at 800. We’re at this point signing up more than 200 a month.”

The latest market surge, according to some, has been driven by the announcement of the partnership between Dash and Kripto Mobile, which is a South American company that manufactures mobile phones which come pre-equipped with the DASH ecosystem, wallets and the Bitrefill app.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.

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Dash News

Mexican ATMs Will Now Support Dash (DASH)

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The Mexican ATMs will now provide support for DASH to over 11,000 ATMs, which will create a huge influx of crypto interest. This addition comes in after the announcement of a partnership between Dash Pay and cryptocurrency company Tauros. A well-known cryptocurrency remittance organization in Mexico, Tauros, is popular for its cause of making the purchasing of cryptocurrency easier for people.
 ‘’The United States of America and Latin America together have become great places for cryptocurrency usage. The Latin American countries have taken bigger share from the pie because of the high update within the cryptocurrency industry.’’
Dash cryptocurrency, is one of the huge altcoins on the charts that have been a great help for growing economies. After enjoying great growth in countries like Venezuela and Colombia, now Dash has set it's to course on conquering Mexico.  With the newest addition, the people that use ATM will have the opportunity to purchase Dash with Mexican Peso The Chief Executive Officer of Dash Core Ryan Taylor said that the ‘great partnership’ between them will make the way for even more development in the region. He added for the latest dash news:
 “[The Bitcoin ATMs] Infrastructure that can continue growing our Latam [Latin-America] remittances strategy going forward and help expand our use for payments in Mexico, even among the unbanked. This is another great partner for Dash.”
The cryptocurrency market has remained strong in states with flailing economies. That was the number one reason why Dash and Bitcoin turned into superstars in countries like Venezuela. Past studies had presented that merchants in Venezuela had started to accept Dash coin as an instrument of payment for elementary necessities. This custom came in right in the middle when the regime imposed its own state-backed cryptocurrency, the Sovereign Bolivar. There are certain reports that predicted that Dash cryptocurrency may have over 1 million users in Venezuela by the end of this year. Mark Mason noticed that from May of 2019 to December of 2019 there was a growth of 569% in Dash wallet usage in Venezuela. The number of devices that utilized the Dash wallet application had grown from 7,597 in May of 2019 to 50,336 in December of 2019.
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Dash News

Dash Partners With Simplex, Offering A Fiat On-Ramp To Its Users

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The digital currency and blockchain governance network Dash partners with the fiat infrastructure leader Simplex in what is seen as the latest alliance which would enable the DASH token to be purchased with credit card. The Dash news also show that the cryptocurrency will be offered by Simplex for purchase with credit cards through its partners. For those of you who don't know, Simplex is an EU-licensed financial institution that has been leading the fiat infrastructure for crypto. With headquarters in Israel, Simplex has 128 active partners and supports 10 different cryptocurrencies. The company is known for its proprietary fraud detection algorithms which are eliminating the risk of fraudulent card payments. As Dash partners with Simplex, the leading cryptocurrency establishes itself in a good way. Right now, the Dash news show that the coin has a market cap of over $1 billion and operates a peer-to-peer network that is backed by a large online community of developers and adopters, many of whom are running the open-source Dash software. While Simplex has previously entered partnerships with crypto companies such as Tron Foundation and Cosmos Network, the companies behind TRX and ATOM, now that Dash partners with Simplex we can see that their fiat infrastructure for crypto is expanding. Additionally, the company is working with some of the biggest names in the industry such as Binance, KuCoin and OKEx, integrating with all of these platforms to let users expand their portfolio by purchasing cryptocurrency with credit card. The CEO of simplex, Nimrod Lehavi, was featured in the Dash news for giving a statement about credit card functionalities and how they are vital to accelerate broad cryptocurrency adoption:
“We are pleased to add DASH to our portfolio and allow our network of a hundred of leading exchanges and wallet partners to offer credit card purchasing of DASH, using a multitude of currencies Simplex now supports."
The CEO of Dash Core Group, Ryan Taylor, was also in the crypto news as Dash partners with Simplex, commenting on the partnership:
“Partnering with Simplex, a leading credit card payment processing company, is an incredibly exciting opportunity for Dash. Thanks to their advanced fraud detection capabilities, Simplex’s clients include some of the largest platforms in the industry.” “Through this integration, we’re excited to expand access to Dash and to give our users more choices. Simplex not only means a simplified purchase experience for our users, but it means Dash can be offered on more partner websites than ever before.”
Earlier, Dash concluded an agreement with the cryptocurrency remittance firm Tauros which will see DASH added to more than 11,000 ATMs throughout Mexico.
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Dash News

Dash Price News Today: Stable At $105 With Bullish Opportunity

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The latest Dash price news today show that the cryptocurrency is in a bullish trend zone market in its medium-term outlook and the increased momentum is what pushed the price up to $105 now in the resistance area, right above the EMA 50 as the market opens today. The momentum was lost as we could see in the cryptonews yesterday - and the exhaustion has set in ever since the bears returned briefly. Today, we can see an opening candle at $107.81 but the price retraced now and the DASH/USD cryptocurrency pair dropped further to $105 in the support area. The price of this project is above the EMA-50 an indication of an uptrend in the context of the strength. The signal of the stochastic oscillator points down at around 10% in the oversold region which indicates that a downward momentum is here and the crypto may likely encounter a change in trend in the days ahead, as we can see from the medium-term perspective. The Dash price news also give an estimate that DASH is one of the coins with no big movements in the altcoin news over the past month. The 4-hourly session today opens with a bullish doji candle followed by a reversal. What's important is that just like the other altcoins, DASH is in a slow downtrend in the context of its strength. On the other hand, the stochastic signal indicates that the price momentum may likely change in the future and the short-term outlook. Even though it's minor, the decline in the Dash price news indicates that DASH has been trading in higher grounds and may see the same levels again as it moves forward. For those of you who don't know, DASH describes itself as digital cash which aims to offer financial freedom to everyone. In this ecosystem, the payments are fast, easy, secure and with near-zero fees. The cryptocurrency is built to support real-life use cases and aims to provide a fully-decentralized payments solution. As such, the Dash price news are always exciting and hinting on many potential things for the altcoin. Since its creation in 2014, Dash has been a popular choice for many investors, mostly because of its two-tiered network, instantly settled payments, instantly immutable blockchain and optional privacy.
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Latest Dash Price Analysis: Consistent Climb And Many Improvements

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The latest dash price analysis shows a constant climb for the cryptocurrency and a lot of amazing improvements as the year started. In the Dash news price, we read more about the privacy-focused cryptocurrency movement and the DASH/USD pair that shows a bullish momentum at regular intervals. The reason behind the bullish momentum for the coin's price could be the latest announcements such as DashPAY by NowPayments. NOWPayments was involved in a giveaway where the users had the opportunity to get $10 in DASH by simply engaging in a Twitter advertising. In the previous dash news price announcements, we said that more than 40 percent of DASH holders are making money but it seems that more than 56 percent of the holders are making money. The signals are mostly bullish and the concentration by the larger holders is about 16 percent so the 30-day price correlation with BTC is 0.78. The summary for the dash news price pair includes moving averages and oscillators that display a buying zone. As mentioned before, there are 56% IN holders that make money at current prices while 33 percent are OUT holders. The signals are bullish according to the latest dash price analysis and the altcoin is now variable. The altcoin currently has a clear price target of $145 and is medium bullish in the medium term but in an event of a sudden turnaround in Bitcoin, dash has three correction goals to $115, 99 and 83. If the altcoin beats the old record, the price will only find stability at $200. The RSI shows that the buyers have the accelerator at highest and want nothing less than viewing the price above $140. If any withdrawal happens, there will be more support found at $128. If the DASH price declines, the 50 SMA at $124 will work as the next key support. The summary of the 1-day indicator shows that the DASH price is oscillating between the buying and strong buying zone but the RSI oscillator is showing mostly Sell behavior. The moving averages are now in the strong buying zones as per the dash news price and the exponential moving average and simple moving average are also in the strong buying zone.
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