Dash Price Bounces 11.8% on Recovery as Crypto-SMS Integration Continues
Dash (DASH) saw an 11.8% price increase on Wednesday evening, coinciding with the release of its second crypto-SMS app this week.
Dash payment app, Dash Text, and point-of-sale app, Spark, have both integrated the text-payment service of CoinText in the past week, allowing non-smartphone users to send and receive Dash at the click of a button.
This continues Dash’s push to make it easier for users on the ground to use cryptocurrency, and follows on from the recent decision to accept the DASH currency by the Traki superstore – Venezuela’s equivalent of Walmart.
Dash SMS App
As per Wednesday’s announcement on DashForceNews, Dash’s point-of-sale app, Spark, has successfully integrated CoinText, allowing anyone with a phone number to receive Dash. According to the announcement:
“The CoinText integration further adds to Dash’s ability to be used by a wide demographic of individuals and for Spark to be on par with competition. AnyPay, another POS service, recently integrated CoinText and Dash Text recently integrated their own SMS payment option into Venezuelan point-of-sales systems.”
This follows on from last week’s CoinText integration by Dash Text, another payment app for the Dash cryptocurrency. Given Dash’s recent focus on inflation-stricken Venezuela as a grounds of operation, the SMS functionality could prove to be more effective than one might assume.
With 60% of Venezuelans still without access to a smartphone, providing a way for the average mobile phone user to send and receive Dash could prove to be a smart move.
The developer behind the Spark point-of-sale app also won a startup challenge this week which saw him rewarded with a $5,000 fund and access to free legal advice and office space. The developer, known as Kodaxx said:
“By my estimate, it could pay for 20-30 extra hours of development work, the new hardware prototypes, and a marketing strategy (put together by a real marketing agency), business development plan, branding, etc…”
Dash’s 11.8% recovery push came with the broader market recovery, but greatly the outpaces the 2-3% gains recorded by other major altcoins.
The coin price of Dash climbed from the daily low of $100.86 up to $112.86, fuelled by a rise in trade volume from $89 million to $150 million across the day. That puts the coin on 12% recovery since the recent low on Tuesday, Nov 20th.
Given the volatility of the previous week, it will be a surprise if Dash remains at the current price level for very long. Dash lost just over 42% in the last two weeks alone, and is down 93% from the January high of $1,600.
Despite listings on Binance and Bittrex, the top five most concentrated Dash pairs for Wednesday came on either Korean or Chinese exchanges, with around 85% of the total daily volume coming from either Bithumb or ZB.COM.
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.