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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

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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