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Dash (DASH): Is Dash Able to Go up With the Latest Momentum in Venezuela?

  • Dash came up around 2015, however, the currency known as the abbreviation of “digital cash” came through more than a single phase, originally rebranded from Darkcoin, previously known as Xcoin.
  • Dash came a long way since it was originally issued back in 2014 as Xcoin; however, DASH has had a major decline over the period of the last 11 months.
  • Since December of 2017 when DASH was worth around 1,500$ per one unit with a market capitalization of over 11 billion dollars, the crypto declined by almost -90% against the fiat.
  • After all the dips have been summed up during the course of the last year, DASH is now worth around 153$ per one unit with a market capitalization of 1.2 billion dollars.

Moreover, it is said that DASH is gaining on popularity in the inflation-hit Venezuela struggling with its native currency Venezuelan bolivars, which might aid the crypto in going ahead for a rebound.

Dash (DASH) is Still Dropping, but Can it Go Up for the EOY of 2018?

Dash is actually short from “digital cash” and it represents a fork out of Bitcoin’s main chain, which means that Dash is one of the currencies to claim to have solved some of the issues that BTC obviously has.

Dash makes sending micropayments easy, simple, as well as cost-effective, and provides its users with untraceable transactions which add more to its overall value.

However, Dash is seen declining by a severe slide towards the red, so we can see the currency struggling to get a rebound, additionally losing over -40% on a YTD chart.

Dash (DASH) – Monthly Chart November – Coin Market Cap

What is interesting is that despite the obvious decline, Dash is marking an increased activity from buyers in Venezuela, while the team behind the 13th largest crypto claims that Venezuela has easily become their second largest market of investors.

Venezuelans claim that Dash is one of the most stable currencies they are dealing with, especially people who are into retail business, while bolivars are acting unstable for a long time now.

Even though Venezuela is supporting Dash within mutual benefiting, Dash is still showing negative results against the fiat, going down by over -26% in the course of the last two months as well.

However, Dash is only depicting the current market crisis that makes hard for the majority of top cryptos top go up against the odds.

Still, there are several factors that could bring Dash up at least to break through the resistance of 160$ by the end of 2018, while some analysts are predicting that the market might go through another major rebound by the end of 2018 similar to the case at the end of 2017.

Which Factors Could Bring Dash Up Against the Fiat by the End of 2018?

CEO of Dash, Ryan Taylor, has recently announced that some major companies like Subway chains and Calvin Klein have already signed agreements with Dash, while on the official website of the currency you can already find a list of stores where you can spend Dash.

However, even though Dash is taking off in Venezuela, the currency can hardly get back to its all-time high of over 1,500$ any time soon. Still, breaking the resistance of 160$ stands as a legitimate option for DASH.

 

 

Image Credit: Tharp & Clark

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