Adoption of the Dash digital currency seems to be growing quite impressively. According to Dash, the number of active Venezuelan user wallets has grown by 562% in the last 7 months.
Dash has said that the amazing growth has been consistently growing since May 562%. In fact, in December alone, Dash jumped by 29%.
According to a tweet from co-founder and director of media of Dash Pay News Mark Mason, the growth was between May and December and covers active android devices.
Mason further clarifies the definition of active:
“This is NOT total installs, ‘active devices’ shows how many devices that have been online at least once in the past 30 days.”
The replies to Mason’s tweet are quite bullish. One user tweeted that if Dash can maintain the current growth rate, “it will only take 12 more months to crack the 1 million mark in Venezuela.”
Another reply suggests that the current growth rate will ensure that in less than three years, the platform will hit 31 million Venezuelan users, which is basically “the entire population of the nation.”
Venezuela’s hyperinflation is a strong factor in the drive for cryptocurrency adoption in the country. As its official fiat currency continues to plummet, residents move to crypto. In September last year, LocalBitcoins saw record Bitcoin trading volumes as well.