Consumer-Friendly Dash Takes Share of Spoils as Coin Boosts 24% Overnight

Dash (DASH) gained 24% on its value leading into Friday morning, compounding a week-long surge which saw the coin climb 69% against the U.S dollar.

Unlike Bitcoin Cash (BCH), which has continued to surge on the back of a $2 billion influx to trade volumes (a +3,000% increase), Dash’s spike was helped by a more modest 50% increase to trades since the start of the week.

Dash continues to target consumer adoption of its cryptocurrency services, and there are now over 2,500 merchants accepting the currency in Venezuela alone. Meanwhile, Dash holders can expect to claim 10% off Amazon gift card purchases when they pay with DASH through Bitrefill.

Dash Price – DASH/USD

In the previous twenty-four period the dollar value of Dash climbed from $79.78, up to the $99.23 recorded just after midnight. The subsequent pullback took the coin back to the $95-96 range, but now looks to be on the move again as the Western session gets underway.

Last week the Dash valuation struck $58.52 – a twenty-month low, and the eventual springboard for a 69% run of buys over the last seven days. In that time, Dash trades jumped 50% in volume, rising from $120 million to $180 million – a comparatively small sum compared to the influx that the likes of Bitcoin, Bitcoin Cash, Ethereum and EOS received in the same period.

Excluding trades with unknown fee types from Bithumb and ZB.COM, Dash was heavily traded against BTC and USDT, with a very broad spread across multiple exchanges. That’s in stark contrast to another recent mover, MonaCoin (MONA), which saw over 90% of its movement emanate from one exchange.

Dash Extends Merchant Adoption

According to Friday morning’s tweet by Mark Mason, director of Media and PR for Dashpay, there are now 2,538 merchants in Venezuela who accept Dash as a payment method. Mark’s tweet was accompanied by the now customary video post of a customer demonstrating paying with Dash, this time at Yayus Tex Mex Grill in the Venezuelan capital of Caracas.

Dash has effectively made Venezuela its base of operations in the past year or so, and the cryptocurrency seems to be taking hold there despite the nation having the magical Petro forced down its throat by the Maduro government.

Also helping Dash’s cause in Venezuela is the recent sale of over 66,000 Dash-enabled mobile phones – the KRIP by Kripto Mobile – which allows users to purchase and use Dash straight out of the box.

In another example of Dash’s insistence on growth via basic consumer adoption, the crypto-to-gift-card provider, Bitrefill, is offering customers 10% off Amazon gift cards if they pay for their purchase using Dash, as per Wednesday’s tweet from the Dash team.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.