eToro Market Report: Dash Is “Acutely Undervalued” Compared to Other Coins

dashforcenews (62)in #cryptocurrency • 6 years ago

eToro Market Report: Dash Is “Acutely Undervalued” Compared to Other Coins

Dash is "acutely undervalued" according to a market research, which plans a US launch to its cryptocurrency trading platform.

The investment platform, which plans a US expansion to its popular cryptocurrency trading platform this year, released a market research report on Dash, detailing the currency and coming to the conclusion that it is significantly undervalued at present:

"Not only is this one of the most well established cryptos in the payments space, but the community continues to innovate and bring crypto to new and exciting places, particularly in emerging markets. In addition, according to our findings below, we feel that this cryptocurrency is acutely undervalued compared to the rest of the cryptomarket."

The 10-page report details the basics of Dash, its use cases, as well as its progress in adoption around the world:

"Dash already has significant adoption in several verticals, like in developing countries where cryptocurrencies are needed most. Besides, there are thousands of merchants and hundreds of ATMs supporting Dash all over the world. In any case, and although its main use is still as a medium of exchange and store of value, Dash definitely has the potential to go beyond that, as will be shown in the following sections with the different projects that are being developed in the Dash environment."

Notably, the eToro report also mentions several key projects in the ecosystem, including expansion in Venezuela and Al Thirty Six's targeting of the cannabis industry.

eToro cryptocurrency trading is coming to the US this year, including Dash

Earlier this month, eToro announced that it would expand its cryptocurrency trading to US customers. This will add one of the largest and most important investment markets to a present list of 140+ countries currently supported. The platform lists 10 different cryptocurrencies at present, and claims over 10 million users worldwide. Expansion to US markets, combined with the Dash market research report, could draw an extensive new user base to the currency.

The investment platform allows users to invest in a variety of traditional assets as well as cryptocurrencies. Users can manually trade across six different asset classes, or follow the investments of other traders on the platform. eToro will be launching its own cryptocurrency exchange desk, as well as a dedicated mobile wallet for cryptocurrency investments.

An increasingly crypto-agnostic world weakens the "Bitcoin first" approach

Over the past few years, particularly in 2017, the cryptocurrency world has significantly diversified away from Bitcoin-centrism. Following scaling issues that the currency faced and its resulting chain split last year, Bitcoin has been supported as the only cryptocurrency by fewer and fewer services. This has allowed other coins like Dash to compete on a more equal level, resulting in more businesses and investors taking notice of the diverse spectrum of options available. Open competition will encourage the best technologies available to prevail in the long run, rather than the default or most well-known initial option.