Dash (DASH) is currently experiencing a strong price surge, rising about 20 percent in the space of 24 hours as news coming out of Venezuela indicates that it is experiencing a solid increase in adoption by users fleeing the bolivar’s six-figure inflation rate.
Hyperinflation, Petro, and Dash
CCN reported recently that Venezuelan president Nicholas Maduro announced the creation of the “Sovereign Bolivar,” a new currency to replace the near-worthless bolivar, which had an inflation rate in excess of 100,000 percent. The new bolivar was then pegged to the value of the petro, a new state-sanctioned digital currency backed by the country’s oil production.
At a time when Venezuela’s annual inflation rate is projected to hit an absurd 1,000,000 percent by the end of the year, with the country’s oil production severely hampered by lack of investment, Venezuelans have understandably………>
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