Dash Sees "Mixed Signals on User Growth", Active Adresses Jump by 36%
Dash, one of the Top 15 cryptocurrencies by market capitalization, is seeing more and more adoption, especially compared to the results a year ago, but the total payment volume and number of downloaded mobile wallets has been decreasing, according to their Q3 results.
“We saw mixed signals on user growth, but overall the metrics appeared steady despite the market price declines,” CEO Ryan Taylor said during a quarterly conference call, adding, “Usage metrics were also strong, including record trading volumes. However, it’s important to note that the community performed a stress test in July that increased several of these metrics [such as transaction count, private send and instant send] in an artificial way.”
According to the report, Dash now has 47,750 daily active addresses - an increase of more than 36% compared to last year, but only slightly more than last quarter. More than half a million addresses hold more than USD 1, indicating actual use and not just creating an address for experimenting, which is an increase of 1,306% compared to last year. The average daily median transaction value is USD 30.5 - a steep decline from last year.
Dash Core Group has also increased their revenue compared to last quarter by 64%. Their net income as of September 30th was USD 706,000 - significantly more than the loss they registered of USD 1.9 million at the end of Q2.
Given that salaries and compensations were the largest expense, CFO Glenn Austin offers a different point of view: “These expenses dropped 27% quarter over quarter, primarily due to numbers of the board of directors and senior management voluntarily reducing their salary.”
In other news, the Dash Ventures legal entity structure should be published this week, with a month or two more until it’s ready for use in order to provide the Dash network with equity in exchange for investing in certain projects. The redesign of the overhauled Dash.org website is expected for late November/early December. Also, Core reiterated its focus on five key areas for optimal growth: Venezuela, cannabis, US-Mexico remittances, online gaming, and crypto traders.
Watch the whole conference call below:
Dash price chart: