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Price analysis of Ethereum: calm before another potential storm

Dash (DASH) saw a price increase of 11.8% on Wednesday evening, coinciding with the release of its second crypto-SMS app this week.

Dotted payment app, Dotted textand the point of sale app, Spark, have integrated the CoinText text payment service in the last week, allowing non-smartphone users to send and receive Dash at the click of a button.

This continues Dash's push to make it easier for users in the field to use cryptocurrency, and follows the recent decision to accept DASH currency from the Traki superstore – the equivalent of Walmart's Venezuela.

Dash SMS App

As for Wednesday's announcement on DashForceNews, Spark, Dash's point-of-sale application, has successfully integrated CoinText, allowing anyone with a phone number to receive Dash. According to the announcement:

"The integration of CoinText also adds to Dash's ability to be used by a broad demographic band of individuals and that Spark is on par with the competition AnyPay, another POS service, recently integrated CoinText and Dash Text, have recently integrated its payment option via SMS into Venezuelan retail systems. "

This follows the integration of CoinText last week by Dash Text, another payment app for Dash's cryptocurrency. Given Dash's recent focus on Venezuela inflated as an operational base, the SMS functionality could prove more effective than we might suppose.

With 60% of Venezuelans still without access to a smartphone, providing a means for the average mobile phone user to send and receive Dash could prove to be a smart move.

The developer behind the Spark store's app also won a start-up challenge this week that saw him rewarded with a $ 5,000 fund and access to free legal advice and office space. The developer, known as Kodaxx, said:

"According to my estimates, it could pay 20-30 hours more development work, new hardware prototypes and a marketing strategy (put together by a real marketing agency), business development plan, branding, etc … "

DASH / USD update

The recovery push of 11.8% of Dash has come with the widest recovery in the market, but largely exceeds the gains of 2-3% recorded by other major competitors.

The price of Dash coins rose from the daily minimum of $ 100.86 to $ 112.86, fueled by an increase in trade volume from $ 89 million to $ 150 million during the day. This puts the coin in recovery of 12% from the recent minimum of Tuesday 20 November.

Given the volatility of the previous week, it will be a surprise if Dash remains at the current price level for a long time. Dash has lost just over 42% in the last two weeks and is down 93% from the January high of $ 1,600.

Despite the ads on Binance and Bittrex, the first five Dash pairs more concentrated for Wednesday arrived in both Korean and Chinese, with about 85% of the total daily volume coming from Bithumb or ZB.COM.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.

Featured image courtesy of Shutterstock.

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