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DASH Sees a Price Surge After Latest Partnerships

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The crypto market continues to see new development as Dash experiences a significant price surge after announcing a partnership with Kripto Mobile. Additionally, the 20% price surge might have also been influenced by news of adoption push in Venezuela.

Dash on the rise in Venezuela

For several days now, Dash has been experiencing an increase in value, which went up by as much as 20% after recent news from Venezuela. According to reports, the citizens of Venezuela are massively adopting Dash in an attempt to flee from their native fiat currency, the bolivar, and its ever-increasing inflation rate.

Due to such extreme economic problems, Venezuela started turning its gaze towards cryptos. They started by launching Petro at the beginning of the year, which is their own oil-backed coin. Since then, the country’s president, Nicholas Maduro, announced the launch of “Sovereign Bolivar”, which is a new crypto that should replace the traditional bolivar, which is currently pretty much completely worthless.

The new Sovereign Bolivar is to be pegged to Petro’s own value, which is seen as the only way for the country to regain some level of economic stability. This is where Dash came in and took advantage of the country’s situation. In absence of any stable fiat currency, its transaction speed, decent price, and focus on privacy might be a perfect solution for Venezuelans.

Since then, it supposedly already signed up around 200 vendors per month, on average. This even includes large brands like Calvin Klein and Subway. According to Ryan Taylor, the CEO of Dash Core Group, there have been tens of thousands of wallet downloads per month in Venezuela, which has become Dash’s second largest market.

Kripto Mobile partnership sends Dash to the moon

However, this is not all, as Dash also entered a partnership with Kripto Mobile Corporation, which is a company based in South America, and dedicated to the creation of mobile phones. The phones are now coming with Dash ecosystem, which is pre-equipped. The phones also contain Dash wallets, as well as the Bitrefill application.

The phones were originally introduced during a Caracas conference, and the company believes that this move will bring more South American users to the crypto market. The solution is generally not bad at all, as crypto payments can cut the transaction time and costs significantly, which is something that Latin American communities desperately need right now.

The results came almost immediately, and while Dash is was, generally speaking, a well-performing coin, it has been on a downfall recently. However, after unveiling the new partnership, the coin saw a 20% increase, and it even grew to be only a dollar or so short of hitting the $200 mark. While the positive momentum of the entire market was definitely responsible for bringing the coin to this important milestone, the massive increase in adoption in Venezuela, as well as Kripto Mobile partnership, are definitely what allowed Dash to rise as high as it did.

The current situation with the coin is slightly less enthusiastic, as the coin has experienced another 8.37% drop in the last 24 hours, bringing its value down to $180 at the time of writing. However, there is still hope that Dash will soon shake this off, and continue to rise once more.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Carlos Adampol Galindo via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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