As Bitcoin Surpasses the $10,000 Mark, Dash is Setting Records of Its Own

As of late, most of the media hype surrounding cryptocurrency has been focused on Bitcoin, which recently smashed through the the $10,000 barrier and has already touched the $10,800-$10,900 zone as of Wednesday morning. Dash – the digital currency that until recently tended to escape the notice of many investors – has been setting some rather impressive records of its own.

The news of Bitcoin surpassing the ten thousand mark did not come as a total surprise to many crypto-observers as the price of the popular digital token already surpassed those heights in certain regions of the world, where demand for cryptocurrency is especially high. Notable examples of countries where the “ten thousand record” has been reached, before it has in most other parts of the world include locales as diverse as Zimbabwe and Korea.

Demand for Bitcoin and other digital currency in both countries has been surging, although for reasons that tend to stem from different causes. In Zimbabwe, a severe politico-economic crisis has created an enormous cash shortage – leaving cryptocurrency as the the only viable alternative. South Korea on the other hand has a prosperous economy and as democratic nation, enjoys socio-political stability, despite the obvious perils of its geographic location. Most of the demand in Korea has been generated by a massive investor rush, which to an extent has been egged on by an intense media hype.

Bitcoin – still considered to be the world’s most popular digital currency – has been in high demand in both Africa and Asia but more recently, Dash has been capturing the attention of a number of investors as the privacy-focused cryptocurrency surged past the $600 mark last week. This rise has been at least partly attributed to an increase in demand for Dash, in the above-mentioned regions of Africa and Asia.

With seemingly impeccable timing, Dash announced the commencement of a project to bring more blockchain technology advancements to Zimbabwe, in the immediate aftermath of a military coup, which removed the geriatric dictatorship of Robert Mugabe from power. The ruined economy of this African country had already been desperately looking for solutions such as cryptocurrency, before the coup took place. The fact that it did take place, highlighted in even more uncertain terms the need to resuscitate the economy and Dash plans to help, by increasing Zimbabwe’s access to blockchain technology. This project will be initially injected with a starting capital of roughly $550,000 which will come directly from Dash’s treasury. Dash explains that the main aim of this initiative is to provide Zimbabwe with its first-ever localized, peer-to-peer cryptocurrency payment service. It is hoped that the implementation of such a system will help Zimbabwe to stabilize its economy by stymieing hyperinflation and providing a functional medium of exchange.

In Korea, the rise in demand for Dash coins has less to do with third world concerns but rather with Dash’s growing profile. The announcement of Dash’s Zimbabwe initiative has increased the brand’s media exposure and consequently caused a number of South Korean investors to flock to it. The increase in Korean demand has also been noted as a key factor in Dash’s recent price spike.

Investors are now wondering whether Dash will continue to garner more media attention, as a further rise in its value seems to be a function of the former.