During the first three months of 2020, Dash was one of the crypto assets that stood out for its positive performance, despite the decline of many other cryptocurrencies, especially in March.
As one of the crypto assets to be most used by people in Venezuela not only as a store of value but also to buy basic necessities, Dash has also recently been supported by more than 10 thousand ATMs in Mexico and has entered into a partnership with Parsiq to facilitate the acceptance of the cryptocurrency as a payment method by merchants, particularly in Asia.
This and other news, such as the classification by the SEC at the end of 2019, have allowed Dash to perform very well, marking +30% from January to date.
eToro‘s Senior Analyst, Nemo Qin, about the positive performance of Dash during the last quarter, explained:
“It was one of the best performing crypto assets this quarter for a number of reasons. First of all, the US Security and Exchange Commission (SEC), which recognizes a very small number of crypto assets as ‘secure’, gave Dash this qualification. As a result, this classification contributes to giving legitimacy to other crypto assets. Dash has also worked extensively on strategic partnerships with major international brands such as Burger King, as well as with governments such as those of Germany and Venezuela. The latter country’s local currency is, in fact, plagued by hyperinflation, which is why many Venezuelan citizens turn to cryptocurrencies as an alternative. This type of collaborations, together with quick and cheaper transactions compared to Bitcoin, makes Dash preferable for everyday use. But there is also one last and important aspect – concludes Nemo Qin – and that is the reward that Dash’s PoW gives to miners who own more than 1,000 Dash, allowing them to attain a Dash node. A strategy that helps attract investors and keep them loyal over the long term”.