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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

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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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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