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Everyone seems to be on a digital currency spending spree these days, and the biggest beneficiary right now is the altcoin Dash, which has just set a new all-time market cap and unit price record after its latest partnership agreement.
DASHING TO HIGHER HIGHS
Dash has just enjoyed one epic ‘bull run’ — a run that might not be over yet. According to CoinMarketCap, just seven days ago, Dash was trading at about $22 USD. Yesterday alone, Dash gained over 40% in value, reaching an all-time high of almost $46.75, more than twice its value last week.
Dash started the year trading at around $11 USD, so it is up over 300% so far in 2017. This also caused the currency to set a new market capitalization high of over $300 Million USD, gaining over $70 Million on Wednesday alone.
This one day after Dash Detailed’s Amanda B. Johnson characterized Tuesday as Dash’s “biggest day ever” by virtue of reaching #3 in the industry in market cap, passing Ripple and Litecoin.
WHAT’S THE REASON FOR THE DRAMA?
Yesterday’s boost stems from news of an agreement with Wall of Coins that should buying and selling Dash much more convenient than ever before. Wall of Coins is an online platform that allows users to buy Dash with cash, or sell Dash for cash, in a peer-to-peer manner.
On the Wall of Coins website, customers are instructed to deposit cash at a local financial institution, and in a matter of minutes, receive Dash directly to a software wallet of their choice. They can then sell their holdings to Wall of Coins, and withdraw the cash value at their closest financial institution.
“Wall of Coins allows users to purchase Dash immediately at tens of thousands of physical locations in twelve countries,” said Dash Director of Finance Ryan Taylor said to The Dash Times. “And since Wall of Coins is supporting our InstantSend feature, transactions leveraging the Wall of Coins system will be blazingly fast. It also gives the community another way to sell their Dash, often at a premium to the rates available on traditional exchanges.”
Wall of Coins has been servicing Bitcoin for a long time, and now sees the value Dash can provide their users. Their leadership is very excited about this new digital currency option.
“We have become the first service to let people get Dash directly with paper money, and by far the fastest marketplace for it,” Robert Genito, Project Director at Wall of Coins said.
Dash is really focused on giving people and business what they truly want: instantly-settled payments, privacy, optional transparency, and the ability to fix problems quickly.
DASH MAKING FRIENDS FAST
This agreement piggybacks upon the press Dash has received about their agreement with BlockPay. BlockPay is a popular facilitator in Europe and Latin America for enabling Point-of-Sale transactions at no cost to the merchant and low fees for the consumer, operating in 36 countries.
Oddly, this agreement was reached in August of last year, but a flurry of online articles has started reporting on the deal within the last few days, spurring new market demand in Dash. BlockPay is currently working on the implementation of Dash in hundreds of convenience stores, grocery marts, gas stations, supermarkets, hotels, and e-commerce outlets in these international markets
Dash is beginning to become the Bitcoin alternative currency option, with faster transactions, more privacy, and less governance in-fighting. The developers at Dash are expecting to release Dash Evolution in the second half of 2017, promising an online user experience similar to online banking.
Is Dash on its way to become a viable Bitcoin alternative? Share your thoughts below!
Image provided by CoinMarketCap, Shutterstock