Dash commercial payments doubled in Q1 2020

06/09/2020

ForkLog

In the first quarter of 2020, the number ofcommercial payments usingprivacy-oriented cryptocurrency Dash has grown by 104% compared to the previous period. This is stated in the new financial report of the Dash Core Group, writes Cointelegraph.

Collectively, in the first three months of the year, the median number of daily commercial payments made using Dash was 17,127.

According to Dash, this was facilitated bya number of partnerships in Latin America. Among them is the collaboration with Burger King in Venezuela, where, thanks to a partnership with the processing service Cryptobuyer, visitors to this fast food chain were able to pay with cryptocurrencies.

In addition, thousands of entrepreneurs in this countryhave the ability to accept Dash thanks to efforts to popularize cryptocurrency by local enthusiasts and recent integration with terminals of the MegaSoft network.

Another country where Dash is popular is Brazil. Here, more than 2.5 million merchants using solutions like ATAR Pay have the ability to accept this cryptocurrency.

Simultaneously with this during the first quarterIn 2020, the number of active Dash wallets on mobile increased to 101,747, up 21% from the previous quarter. In annual terms, the growth was 214%.

The report also draws attention toextremely positive first quarter results in terms of Dash price. During this period, it grew by almost 60%, which was the best quarterly indicator since the end of 2017.

Dash price chart in 2020. Coingecko data

Although volatility can be negativeon the adoption of cryptocurrencies, Dash Core Group Marketing Director Fernando Gutierrez believes that the rise in the price of Dash has certainly helped the rise in commercial payments.

"Users spend more when the price goes up because their wealth is growing"It's likely that the price dynamics have helped add more than one transaction to the overall long-term trend of daily cryptocurrency usage," he said.

Dash's average daily trading volume on cryptocurrency exchanges for the period was $ 37 million, up 987% from the previous quarter. In annual terms, the growth was 686%.

We will remind, on the eve of the analytical firm Chainalysis announced the beginning of support for Dash and Zcash.