Dash Up 70% in Two Days – What’s Driving the Rally?
As nearly all coins in the crypto market surge, the privacy-focused cryptocurrency dash (DASH) stands out as one of the biggest winners, recording a gain of about 70% over the past two days alone.
In fact, large gains in the price of dash started to occur already in early January when the price bottomed out at about USD 40. Since then, the market has seen a total price increase of nearly 200% to almost USD 120 as of pixel time (14:42 UTC). The price is also up by almost 40% in the past 24 hours.
DASH price chart:
In the community, many speculate if it is demand in Venezuela that is driving the price higher. Crypto has long been somewhat popular as a way to transact and hedge against inflation in the financially distressed country, and dash has stood out as one of the most popular coins besides bitcoin (BTC).
Meanwhile, Venezuela is the most popular country among dash listing locations.
Top Dash Listing Locations
As reported earlier in January, Burger King in Venezuela has partnered with the Latin American crypto trading platform Cryptobuyer to enable Burger King customers in the country to pay with dash and several other cryptocurrencies.
“Dash usage continues growing at a rapid rate in Venezuela, as it provides an alternative that is a more reliable payment method and store of value,” Ryan Taylor, Dash Core Group CEO said in a comment published on the dash blog at the time.
Meanwhile, among the positive, dash-related news is also the launch of the dapp (decentralized app) building dashboard known as Dash Platform on Evonet. Evonet is a testing environment for features related to the Dash Evolution upgrade, as described in an update posted on the dash blog on December 31.