Dash Android Wallet Usage Surges By 627% In Venezuela

The Dash news price today show that during the Q3 and Q4 of 2019, the exchange rate of Bolivar Soberano (VES and known as Bs) declined by almost 900% against the US Dollar. The hyperinflation finishes off the national remittance system and right now, cryptocurrencies have become the only tool of exchange in the country. Just like that, the Dash Android wallet usage is surging and the cryptocurrency is used for more low-cost everyday payments.

Citizens of Venezuela are increasingly using this token for their domestic as well as cross-border payments. There are affordable Android-based smartphones linked to the Dash cryptocurrency and acting as a hardware basis for the system. Thus, the statistics for the Dash wallet app usage are a reliable indicator of crypto adoption.

As the director of media and PR in Dash, Mark Manson recently reported:

“There has been a 627.47% increase in active android devices using Dash wallet app in Venezuela between May 2019 to January 2020.”

There has been a 627.47% 📈👀 increase in active 📲 android devices using #Dash wallet app in #Venezuela 🇻🇪 between May 2019 to January 2020.

This is NOT total installs, 'active devices' shows how many devices that have been online at least once in the past 30 days. pic.twitter.com/JSewi7PtSM

— Mark Mason (@StayDashy) February 3, 2020

He also stressed that the Dash Android wallet usage does not count application installations which is typical for such type of calculations. As he said, by ‘active’ he means only devices which have been online at least once in the past 30 days.

Right now, the latest blockchain news show that Venezuela is not the only country where cryptocurrency has replaced a national financial system. The CEO of Twitter can prove this wrong – during his November African trip, he emphasized that cross-border crypto remittance is the last hope for sub-Saharan Africa.

Additionally, the EOS-like blockchain project Telos already launched its token pegged to the South African Rand – named the eZAR. Many African nations are now in the process of deploying stablecoins.

Besides the Dash Android wallets, the actual value of DASH on the charts today is declining, just like many of the cryptocurrencies. IT has been a day full of losses so far and DASH managed to lose around 9% from its yesterday price, sliding to $90.99 which is the current level. The trend is now bearish and the technical indicators show that cryptocurrencies fell below their support and surprised many investors.

The biggest loser on the day in the cryptonews is Bitcoin SV (BSV) which shed 11% and fell to $242.