DASH Gains Despite Funding Issues & Venezuelan Connections: While the news has been kinda dark on their outlook for Dash coin, the crypto saw major gains on Monday. It rose 23% by the end of the trading day, showing the second largest amount of gains in 24 hours in top 100 cryptocurrencies by market cap.
Right after Dash, it was IOTA showing 21% gains after our coverage yesterday.
So what’s up with DASH? Nothing too serious (#sacrasm) besides the news that its CEO Ryan Taylor is under threat of dismissal. Although, Dash has the possibility for community members to put forward proposals, which are then voted on to decide whether a given proposal will be funded. This example, a proposal that has been put forward by a member of the Dash community, has had few votes and thus has a low probability of being funded.
The Dash crypto project might also be facing money issues. Their expenses are piling up and funding is apparently running out slowly according to online sources.
But despite this, Dash price value surged on Monday. It could be that the community members are buying more Dash to show their support by chipping in. Or that Ethos, which aims to be a universal wallet for cryptocurrency users, has announced that they are integrating Dash into their wallet platform and are 95% complete and are currently undergoing beta testing.
Another piece of news around DASH has been viewed both negatively and positively by the market participants. And that is its connections with Venezuela. You see, Dash recently expanded into Venezuela, but some masternode owners have been very critical of this move., saying that DASH CEO has seriously mismanaged more than USD 30 Million in funding. Regardless, Venezuela has become a major growth market for DASH. Much of the increase in DASH activity comes as the Venezuelan government has devalued its currency.
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I have personally been a fan of DASH technology, but it looks like the management has some soul searching to do to save the crypto.
What do you think? Let me know in the comments, and subscribe for more updates!
Don’t forget to complete your risk management due-diligence before developing your investment strategy.