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Apple Rejects Jaxx’s DASH Integration

Reading Time: 2 minutes by on September 1, 2016 Altcoins, Finance, News
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After being integrated into Jaxx’s blockchain wallet, DASH now faces a new challenge as Apple does not approve of the cryptocurrency, allowing only bitcoin, litecoin, ether, dogecoin, ripple and DAO tokens on its app store.

The announcement followed shortly afterward Jaxx announced support for Ethereum Classic, stating requests from the community and the need for a non-exchange storage solution.

Could Apple be trying to stifle the competition it faces from cryptocurrencies such as DASH to ensure that Apple Pay is the dominant payment method for their users?

It is particularly interesting to note that not too long ago, Apple stood up for encryption and privacy when it defied the FBI when they demanded access to break the iPhone’s encryption. Apple decided not to cooperate but now the company has rejected the privacy-centric, cryptocurrency DASH.

Jaxx’s Anthony Di Iorio stated that in reponse to this decision from Apple, they are determining the course of action.

However, it is not just cryptocurrencies that Apple is censoring. Australian banks are engaged in battle with Apple over its mobile payment platform Apple Pay, accusing the company of acting like a cartel.

These banks want to develop third-party apps that use contactless technology built-in to the iPhone without using Apple Pay itself.

“Apple exercises a high degree of control over its products and services,” the banks’ submission to the ACCC reads. “It often delays granting third-party access to its hardware and software features and generally grants this access on a limited and tightly prescribed basis.”

The Australian banks claim that Apple’s high degree of control over its apps comes at “the expense of user choice and competition.” Apple replied to the Australian regulator that it did not want to “perpetuate oligopolistic banking market conditions”.

While DASH’s adoption is slowed by Apple, the cryptocurrency will be adopted into the Wall of Coins (WOC) platform that exists today for Bitcoin. By embedding Dash into the WOC platform, it will make it easier for people to get into and out of the DASH ecosystem by enabling DASH to fiat transfers via peer-to-peer exchange.

In response to Apple’s announcement, DASH has fallen against both the US Dollar and bitcoin. Below shows the 4-hour price action for DASH-BTC on the Poloniex exchange; the price action is below the Ichimoku cloud suggesting a downward trend is firmly in place. While the psychological 0.02000 level has held as support so far, this level looks to be broken on negative sentiment. The next important support level will be found around 0.0180.

Moreover, the 4-hour Renko chart below also shows that DASH-BTC is currently in a downward trend. We would only look to buy DASH-BTC if it manages to bounce back above 0.02105, as displayed on the chart below, as this will indicate the formation of a bullish Renko candle.

Otherwise, we expect DASH-BTC to continue downwards. Also, notice that the Awesome Oscillator has turned negative for the most recent 4-hour trading session after remaining positive for the majority of August, suggesting a switch to downward momentum.

The equilbrium zone lies around the 0.0140-0.0160 level indicated by the Ichimoku cloud, as shown in the daily chart below. After such a strong appreciaton, we now expect DASH-BTC to return to equilibrium before continuing upwards. Therefore, we should look to buy when the market tests the support provided by the Ichimoku cloud, corresponding with a US Dollar price range between $8.80 to $9.65.


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