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A Cryptocurrency is Making Significant Progress on Venezuelan Crisis

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Dash (DASH) is quickly becoming a highly adopted global cryptocurrency.

Venezuela, for example, has been quick to accept it thanks to hyper inflationary issues.

In fact, many are turning to cryptocurrencies as a way to store value as the bolívar’s exchange rate spirals far out of control.

The most recent devaluation of the country’s currency is only likely to increase its adoption of Dash by a higher margin.  All as inflation in the economically disastrous country approaches one million percent.

As a result, we’re likely to see a bigger push into cryptocurrencies, such as Dash in the region.

Price Surge for Dash Coin Investors

While the residents of Venezuela aren’t pleased with the situation, Dash cryptocurrency investors are.

An expected rise in the demand for Dash will lead to a possible price surge in the days ahead. When a large number of Venezuelan population starts to use Dash, one important event is sure to happen. The market value of Dash will be affected by this increased demand. Thus, Dash will increase in value.

“We are seeing tens of thousands of wallet downloads from the country each month,” Ryan Taylor, the CEO of the Dash Core Group, told Business Insider. “Earlier this year, Venezuela became our No. 2 market, even ahead of China and Russia, which are, of course, huge into cryptocurrency right now.”

What Does the Venezuelan Situation Mean to the World & Cryptocurrency?

Other nations undergoing similar economic crisis are likely to opt for Dash, too.

In fact, we wouldn’t be surprised to see Dash become a standard for payment in the world.

At the moment, Dash has a capped supply of 18 million with only 8 million already supplied. Its price would rise faster with regards to other coins in the market if demand increases.

 

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