Impressive Trade Volume Surge
2020 was a rollercoaster year for many, but for Dash, it resembled more of a jet ski ride on a calm lake. The average daily trade volume exploded by a staggering 282% compared to the previous year, jumping from $9.8 million to an astonishing $37.4 million. In a world where most people are still figuring out how to use their smartphones, that’s quite the glow-up!
Transaction Numbers That Impress
But that’s not where the good news ends. The total payment volume climbed to an eye-watering $916 million, an increase of 80% from the previous year. It’s like everyone woke up and decided, “Hey, let’s spend our cryptocurrency like it’s going out of style!” The report also revealed that commercial transaction values saw a 37.3% increase year-over-year—averaging over 22,000 daily transactions—which, get this, surpassed even Bitcoin (BTC) and Bitcoin Cash (BCH). Yes, you read that right!
Increasing Retail Acceptance
The Dash Core Group gleefully announced growing acceptance in the retail world. Thousands of stores now welcome DASH as a payment method, indicating a trend toward mainstream adoption. In fact, they proudly proclaimed that in January, Dash left Bitcoin in its dust regarding the number of brick-and-mortar retailers accepting its digital payments in the United States. Talk about street cred!
Strategic Partnerships Fueling Growth
The surge in merchant adoption was turbocharged by a partnership with CrayPay, a U.S. loyalty program that made Dash spending possible at major retailers such as American Eagle, CVS, Domino’s, DoorDash, and Gap. Imagine paying for your last slice of pizza with Dash—oh, the irony is delicious!
Facing Challenges Head-On
However, it hasn’t all been smooth sailing. In January, Dash faced a rare exchange delisting on Bittrex, allegedly due to its perceived privacy features. They found themselves in a league with Monero (XMR) and Zcash (ZEC), which fell under the “privacy coin” umbrella. But hold your horses; Dash was quick to defend itself, arguing their technical privacy is no greater than Bitcoin’s. In a bid for clarity, they reached out to Bittrex for a compliance chat. But they’re not sweating it—after all, they knew they were cruising at 44th in market capitalization with a solid worth of over $1.1 billion.
