In the crypto bear market situation of 2018, Dash Core Group (DCG), the consortium behind Altcoin DASH, has apparently kept quiet on a public stage, with a near-zero spread of news about the once so popular project.
In 2018, the cryptographic market experienced an unprecedented slump, with Altcoins particularly affected. The ongoing bear market is remarkable in several respects, including persistence, duration, and the absolute and relative extent of price declines. Few have predicted the severity of the market downturn.
In the recent article by Medium, Ryan Taylor, CEO of DCG, stated that his start-up was “sustainable” and would survive the crash. In the paper, Taylor first gave a context for the recent crypto collapse and identified the Bitcoin cash debacle (he called it “FUD”) as an important factor in this. Furthermore he wrote:
There are many causes for the dramatic erosion of markets, including the overstretches of 2017, the failure to meet adoption expectations, and the rampant fraud that pervades the market.
Taylor also noted that there were and will be some crypto companies that will quietly go down before he added that his company does not fall into this category.
There is no doubt that the severity of financial losses will accelerate the demise of many poorly designed projects – those with weak business models, questionable market values, illegal origins, eroding financial resources or shameful intentions. We’ve already heard of ETCDEV and Steem.
Taylor explained that the DCG “does not run the risk of shutting down in the foreseeable future”, and that it is not afraid to lay off a significant number of employees because they have built up a “significant buffer”.
Taylor also pointed to a number of developments including the booming DASH Wallet download statistics, a strong trading volume and a recent successful network stress test. In view of this, the prominent crypto currency lawyer who concluded his comments on the subject wrote:
The most frustrating thing about the current market is that the Dash network is successful with most other measures. The November metrics were solid. Wallet downloads reached a level that has not been reached since the second quarter. The use of PrivateSend has reached a new record. The trading volume is above the average of the last 12 months. Dealer acceptance is at an all-time high.