The scrambles are increasing and part of the rally is linked to the launch of Dash on Venezuelan smartphones

  • Cryptocurrencies is growing all along the line while Bitcoin pushes back towards $ US7,000.
  • The profits among the main cryptids were led by Dash coin, while the cryptocurrency makes a boost in Venezuela.
  • Dash CEO Ryan Taylor told Business Insider that user growth is increasing rapidly amid the collapse of the Venezula currency, the bolivar.

Cryptocurrencies are living a good week.

The demand was generalized and Bitcoin returned to $ US7,000 for the first time in three weeks.

While most major currencies are pushing higher, specific currencies within the broader segment of the market have driven gains.

To be noted: Dash has increased by over 20%, the China-based NEO has increased by about 17% and the IOTA currency has gained more than 10%.

In particular, recent developments around Dash have attracted market attention, with the currency making progress as an alternative platform for transactions in collapsed Venezuala.

At the start of this morning, Dash pushed to nearly $ US200 before going down again:

To put these gains in context, it was a rather difficult year for Dash, who at one point rose above $ US1000 between the height of the crypto-madness last December.

Last Monday, Venezuela devalued its currency, the bolivar, by 95% and anchored it to the oil crypt of the government itself called the Petro. The country is on track for an annual growth rate of 1,000,000% (not a typo).

Between the collapse of Bolivar, Venezuelans are increasingly turning to cryptocurrency as a viable payment method and Dash has been at the forefront of this transition. [19659005] A Business Insider report last week showed that Dash is currently underwriting more than 200 sellers a month in Venezuela, including brands such as Subway and Calvin Klein.

And the last peak may have been driven by news of a partnership between Dash and the Kripto Mobile Corporation (KRIP), a South American criptovalute brand that allowed mobile smartphones.

Dash CEO Ryan Taylor told Business Insider that the monthly increase in users will increase to 10,000.

"Our partnership with Kripto will put all the components needed to use Dash preloaded in the phones of 10,000 new Venezuelan consumers every month," Taylor said.

KRIP phones will have "a Dash wallet to store Dash, services to get Dash and the Bitrefill app to enable spending on various services".

"This integrates the more than 1,000 merchants who already accept Dash in Venezuela, and really addresses the problem of the bird and the egg to attract consumers and traders into our growing ecosystem," he said.

Elsewhere on the encrypted markets, the IOTA currency, the 10th crypt for global capitalization, increased by 20% following a report by Japanese IT giant Fujitsu, which claimed it would incorporate IOTA's blockchain technology into its supply chain manufacturing.

Bitcoin and the broader crypto market trampled on water for much of August, after BTC pushed over $ 8,000 at the end of July.

Since then, markets have struggled for traction, which has been largely attributed to the continued refusal by US regulators to accept an Exchange Traded Fund (ETF) Bitcoin.

Howeve r, the latest developments show that the new innovation partnerships are still happening in the industry while the cryptography market continues to mature.

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