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DASH Losing Ground as Short Term Momentum Turns Bearish

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Dash

Dash

Dash (DASH) is down by more than 40% over the past month, on the broader cryptocurrency sector turning bearish.  Similarly, Bitcoin (BTC) has also come under pressure in recent trading sessions. The flagship cryptocurrency has already slid below the $10,000 mark after a spike to highs of $13,000 early in the month.

Comparing Payments Processes

Dash has continued to edge lower even as its CEO, Ryan Taylor, reiterates that Bitcoin is flawed as a payment solution compared to Dash. According to Taylor, his cryptocurrency is well-positioned to address all the shortcomings of the biggest cryptocurrency by market share. Dash is seeking to become a cryptocurrency for mass adoption following the introduction of instant transactions.

Low transaction fees, as well as near-instantaneous transaction settlement, are some of the attributes that make Dash stand out compared to Bitcoin. Scalability issues, as well as high transaction fees, are some of the factors that have forced people to shun Bitcoin. The likes of Dash and Ripple (XRP) have since emerged as an ideal option for settling transactions.

Taylor insists that Bitcoin is deeply flawed on payment perspective, something that his altcoin is building on as it continues to strengthen its edge on crypto transactions.

“Whoever designed it did not bring payments industry best practices to bear, and there were obvious mistakes… Absolutely every adoption factor for mass scale is the opposite of what it should be for Bitcoin,” said Mr. Taylor.

>> Litecoin (LTC) Corrects 35% from 52-Week High, What’s Next?

Dash Price Analysis

Amidst the sentiments, Dash has continued to edge lower and now faces the risk of sliding below the $100 mark. While the altcoin is still bullish as a long-term play, the short-term momentum has turned bearish following the breach of the $140 support level.

A breach of the $100 mark could result in the acceleration of the sell-off wave. Considering the emerging bear trend, this altcoin will have to bounce back and take out the $140 resistance level to spur further buying pressure. Below the $140 mark, the crypto remains susceptible to further drops.

At the time of writing, DASH is trading lower by 3% at $103.80.

Featured image: DepositPhotos © maloha13

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TRON Partners With Metal Pay to Enable Instant Purchase of TRX

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Over the course of the past few years, TRON (TRX) has emerged as one of the more promising cryptocurrencies in the market and today, there was another landmark announcement regarding the token. According to the announcement today, TRX has partnered with Metal Pay, a cryptocurrency service provider and the agreement is expected to be beneficial for the cryptocurrency.

Major Details

By way of this agreement, users on Metal Pay mobile application will be able to purchase TRX with fiat currency. This is a major development since it opens up TRX to a far bigger pool of investors and could have an effect on its price as well.

In this regard, it should also be pointed out that people who hold TRON can also earn as much as 5% as cash backs in the form of MTLs, which are Metal Pay’s very own tokens. However, that is not all. The Metal Pay platform offers other useful services as well. Users who hold TRX could also use the platform’s exchange to turn it into 20 other cryptocurrencies.

Cryptocurrencies like Ethereum and Bitcoin are included among those. Metal Pay has emerged as one of the more promising platforms in recent times and it remains to be seen if TRX can manage to benefit from this partnership.

However, there are some things that need to be kept in mind by potential users of Metal Pay. A spokesperson for the company stated that identity verification would need to be completed in order to sign up for the service. The basis of that lies in the fact that users need to make a bank account that is insured by the Federal Deposit Insurance Corporation.

However, once that is completed, a user can buy cryptocurrencies worth as much as $3000 per day, $12000 each month or $40000 a year. This is a service that will allow users to buy TRON tokens easily in exchange for fiat.

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