DASH set to conquer crisis-stricken Venezuela with Dash Text service
|- Easy DASH transfers are now available in Venezuela.
- DASH/USD stays above $160 with more gains to come.
Dash coin grew strongly during the previous two days follow the launch of a new service that allows Venezuelans sending the Dash coins with messaging service (SMS). The 12th largest coin with the market value of $1.3B touched $171.66 on Sunday before retreating to $165 by press time. DASH's market value is registered at $1.4B.
Venezuela welcomes DASH
Crisis-stricken Venezuela now has access to Dash Text, which allows sending digital coins via mobile phones. Due to galloping inflation and rapidly devaluing bolivar, Venezuelans turn to cryptocurrencies as a means of payment and a store of value.
“Venezuelans living abroad send an estimated $2 billion USD back home in remittances. This process often takes too long and costs too much, making it a huge pain point for many users. With Dash Text, we are providing real solutions that address real problems. People need easy and cheap ways to send money home, and we’ve done it in a way that expands the Dash ecosystem to those without smartphones! Dash Text offers the perfect solution to ensure that everyone can become part of the Dash family, regardless of what phone people own,” Bradley Zastrow, Global Head of Business Development at Dash Core, commented.
DASH's technical picture
DASH/USD is supported by SMA200 (4-hour chart) at $163.16. This support is followed by psychological $160 and $156.64 (SMA50, 4-hour). On the upside, a sustainable movement above Sunday's high at $171.66 will open up the way towards $178 (the lower border of the previous short-term consolidation range) and $180.
DASH/USD, 4-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.