Dash price (DASH/USD) hits 18-day high following massive rally

Dash price (DASH/USD) hits 18-day high following massive rally

The Dash price (DASH/USD) has received a massive boost following an announcement of a new mobile partnership.

The privacy-focused crypto coin surged in the final hours of yesterday’s trading, with its price rising to a close of $183.08, which was some 29% higher than its opening level of $141.86. Fuelling the rally was the news that mobile operator Kripto Mobile Corporation (KRIP) had signed a deal with Dash to provide new crypto-enabled handsets for the Latin American market. The news was announced at a crypto conference, held by Dash in Caracas, Venezuela. According to website Dash Force News, which reported on the story yesterday, KRIP phones in Latin America will come with a Dash paper wallet enabling Dash transactions to mobile users in the region. The phones will reportedly be priced at under $100.

KRIP’s co-founder Luis Sosa believes that the partnership will have a positive impact on the usage of the cryptocurrency.

“We are seeing an incredible transition period in Latin America with those who are unbanked, underbanked, or simply do not want to use the traditional banking system,” Sosa said, as quoted by Delta Force News. “Combining our accessible, affordable phones with Dash’s InstantSend transaction capabilities and low fees will provide a myriad of benefits to these communities. And with the addition of Bitrefill and other Dash apps, such as the Dash wallet, to our phones right out of the box, there’s simply no easier way to start using cryptocurrencies like Dash in everyday life.”

Dash has mostly managed to defend is gains in today’s trading. The coin hit an 18-day high of $188.99 in recent trading, before pulling back to slightly lower levels.

As of 15:34 BST, the Dash price stood at $182.36, up 24.25 from the same time yesterday. The coin’s total market cap currently stands at just over $1.5 billion, according to data from digital currency tracker Coinmarketcap.

By Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His passion has given him first hand experience of trading, while his writing means he understands the market forces and wider regulation.