Venezuela has become the second largest market for Dash (DASH), with nearly a hundred traders accepting the cryptocurrency every week, a spokesman told the main media on Wednesday, August 22nd.
Interview with Business Insider, Ryan Taylor, CEO of Dash Core Group, the legal entity behind Dash's key development team, said that the interest of both companies and consumers is increasing week after week.
"We see tens of thousands of wallet downloads every month in the country," he told the publication.
"Earlier this year, Venezuela became our number two market, even for China and Russia, which at the moment are of course huge in cryptocurrencies."
Venezuela devalued its old bolivar in the equivalent of 96 percent on August 20 and linked its replacement to its controversial cryptocurrency Petro, which aroused a renewed desire to prevent financial instability with cryptocurrencies.
Meanwhile, the trading volumes of Bitcoin on the exchange platform LocalBitcoins continue to produce weekly new records in what the boss of Purse.io Eduardo Gómez supports he described as "pure hyperinflationary despair" on the day of change in the new Sovereign Bolivar.
Dash aims to make that continuous bypass possible, Taylor implied and noted that sellers such as Subway had also signed to accept altcoin.
"Since last week we have added 94 new Venezuelan traders to DiscoverDash.com, which in recent months has almost doubled the normal rate of around 50 sellers per week," he added.
Dash made the headlines when the value went up and the numbers known as Max Keizer began to publicly promote in the United States.
However, as it reached gigantic highs of about $ 1,500 in December 2017, altcoin has lost most of its value and is currently trading around $ 150.