A new report by Uphold shows Dash users are by far the platform’s most dedicated, show much higher buy to sell value ratios than other cryptocurrencies.
Source: Uphold
According to statistics from cryptocurrency brokerage app Uphold, Dash purchase values were recorded to be much higher than those for other cryptocurrencies supported by the platform:
“Dash buyers showed the highest levels of conviction in their chosen asset, recording an average purchase value almost twice that of the mean for all digital currencies on Uphold.”
On average, Dash buys on Uphold were valued significantly higher than most other cryptocurrencies, nearly double the average across all those supported by the platform. However, even more noteworthy is the ratio of average buy to sell amount. The average buy amount for Dash was over $600, while the average sell was well under $200, a small fraction of the average buy. This stands in sharp contrast with those of other coins, for example Bitcoin registering an average buy of under $600 and an average sell of over $600. On average across the platform, the average buy and sell amounts for cryptocurrencies were similar.
These statistics would seem to indicate that Dash users are largely taking advantage of the bear market to accumulate coins, while selling only relatively small amounts when necessary, demonstrating a significant faith in the project’s long-term viability even in the face of harsh market conditions. Of particular note is how Dash stands out from the rest of the supported cryptocurrencies in this regard, with a shocking contrast with Bitcoin and XRP, and a clear divergence from second-place holder Ethereum.
Masternode counts have steadily increased despite the bear market
The findings of the Uphold statistics seem to bear out in network statistics as well, particularly regarding masternode counts. Even in the midst of a vicious bear market which saw many cryptocurrency holders selling at increasingly low prices, Dash’s masternode count has held consistently stable. With some sharp dips to account for network upgrades, Dash’s masternode counts have largely continued their trend towards steady increases, rising from under 4,700 at the beginning of the year to a present count of 4,882, an addition of about 200 nodes, or 200,000 Dash, representing about $18.2 million at present prices.
This represents over half of the total issued supply allocated to masternodes rather than to exchanges or other less stable uses. About 8.5 million coins out of a potential 19 million have been issued for Dash so far.
By nearly all metrics, including merchant adoption, Dash registers strong performance
Dash has had a very productive 2018 by nearly every standard except price. Over 4,500 known merchants now accept Dash as listed on DiscoverDash, up from 1,000 earlier in the year and just 500 last winter. A majority of these, over 2,500, are in Venezuela, which recently became the world’s top source for downloads of the official Dash mobile wallets. The countries franchises of Church’s Chicken, one of the top-four chicken restaurant brands, also integrated Dash, joining several well-known chains in the country. Over 66,000 mobile phones pre-loaded with Dash apps and including a small amount of Dash have been shipped, promising to expand adoption even further. Finally, a recent stress test showed the network performing smoothly at a record-breaking 3 million transactions in a single day, showing that Dash is ready for the first stages of wide adoption.
