Dash (DASH) reports impressive growth in 2020 trade volumes

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Feb 5, 2021
  • Cryptocurrency Dash (DASH) saw a major surge in its average daily trading volume for 2020.
  • According to Dash Core Group's recent report, the project's volume jumped 282% per year.
  • Dash saw an increase in users, as well as retail payments, especially after the January team-up with Craypay.

Dash (DASH) is one of the biggest privacy coins, and a digital currency analog for electronic cash. Despite the world being more and more unfriendly towards privacy coins, DASH has seemingly experienced a significant surge in its 2020 trading volumes, as well as other aspects.

DASH sees 282% surge in trading volume for 2020

Dash Core Group held its Q4 livestream yesterday, February 4th. During the livestream, they reported that DASH saw a surge in average daily trade volumes, users, as well as retail payments.

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Average trade volumes in 2020 skyrocketed by 282% when compared to the year before. The project saw the figure grow from $9.8 million to $37.4 million, with the average increase on a quarterly basis being nearly 50%.

The project’s team further reported that the total volume of payments managed to reach $916 million, which is also a massive 80% increase from the year before. As for commercial payments, their values rose by approximately 37.3% on a year-over-year basis.

This translates to about 22,000 transactions every day, which is more than what both Bitcoin and Bitcoin Cash are experiencing.

DASH gets accepted by thousands of stores and shops

According to the report, the DASH coin is an accepted payment method at thousands of online stores and shops. In other words, the privacy coin’s mainstream adoption is advancing nicely. Furthermore, its Core Group claimed that Dash outperformed BTC when it comes to the number of brick-and-mortar retailers that are accepting it in the US. At least, this is how it was in January.

However, this is understandable, since the project partnered with CrayPay recently, which is a US-based loyalty program. As a result, DASH became a coin that can be used for purchases at most major retailers in the country, such as CVS, Eagle, Domino’s Door Dash and Gap, and others.

But, Dash has also met difficulties recently, as it saw another wave of exchange delistings in January 2021. Once again, the coin — alongside Monero and Zcash — got delisted from several platforms, including Bittrex. Dash tried to fight, claiming that its privacy functionality is no greater than Bitcoin’s, but the label of privacy coin is weighing it down.

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