Dash Price is Growing – Just the Beginning?
The Dash price has jumped recently, and investors are buying up the altcoin at a fast rate. Originally known as Darkcoin, Dash waded onto the crypto scene with the foundation of Bitcoin and enhanced features, such as faster transactions and increased privacy. Strongly focused towards the payment industry, Dash utilizes its added benefits over Bitcoin and other cryptos to consistently poll in the top 15 cryptos.
Dash: Market Trends
Dash has always performed relatively well by crypto standards, although it is not free from the volatility that accompanies most crypto. 2017 was a strong year for the currency with a lot of user hype and plenty of good things on the horizon, the price rose steadily throughout most of the year. This led the currency to have a reputation for being a relatively safe long-term investment.
2018 has continued in the same vein and the currency has continued to build on its strengths. Mining of the coin is rich, which is no mean feat considering that part of the mine (10%) is then taxed by the Dash owners to go to the Dash treasury. Comparatively speaking, this would ordinarily put miners off in favor of currencies with no taxation, but in Dash’s case, because of the profitability of the coin, it has not been the case.
Early showings for the coin have been strong and like other altcoins that speed up the payment times of Bitcoin, it has become a firm favorite with investors and users alike.
Currently (as of May 5), the price for Dash is hovering around the $495 mark with a market capitalization of just under $4 billion.
Not All Plain Sailing
Something that should be mentioned is that Dash is on a recovery curve after having had a boom over the festive season. It actually reached over $10 billion in market capitalization before the price plummeted. Now, on a fairly steady upcurve, it appears to be recovering well.
Dash is also not an altcoin without detractors. Some were stung hard by the boom, and those that are out of pocket are critical of the coin. This boom trend wasn’t just coin-specific though, with the likes of Bitcoin and Litecoin also having tremendous peaks and troughs at the same time.
Merchants. The great virtue of Dash is that it can be easily accepted as a payment method due to faster transaction times and lower fees – the major issues that come with Bitcoin. Merchants haven’t let this fact pass unnoticed and started to add Dash as an alternative payment option for their goods and services. So far, there are over 1,000 venues listed in DiscoverDash (the directory of Dash-friendly merchants), but the actual number of businesses accepting Dash as payment is believed to be much higher.
Exchanges. So far the market for Dash is large but it can grow even larger in the near future. According to CoinMarketCap, Dash is currently traded at around 100 cryptocurrency exchanges. The figure is impressive, though if compared to that of Bitcoin (around 400), there’s still something to strive for. Whether Dash is going to be listed by more trading platforms in 2018 remains to be seen, but if it was, the price of the coin would likely to go up.
Community. Dash aims at reaching the wider audience in 2018. The upcoming release of Dash’s Evolution (a PayPal-like payment platform) is expected to introduce non-techies to the world of cryptocurrency transactions and make it in the simplest way possible. Though the idea behind Evolution is truly innovative, it is yet unclear how it will work in practice. All we can do is wait until June 2018 (the approximate date of the Evolution mainnet release).
Dash: There May Be Storms Ahead
We have ascertained that Dash has performed well, is not free from market instability, and has, on the whole, maintained an upwards curve. The price of the currency is strong against the dollar, but relatively weak against Bitcoin.
Throwing in an added curveball is the fact that Dash is likely going to have to weather a hefty storm in the near future if things continue on the same trajectory.
Crypto is championed in the East and a lot of Eastern governments have invested heavily in both crypto and blockchain technologies. Some smaller Eastern countries have even hinted at adopting certain coins as a major currency. This comes with challenges for coins like Dash. Where other currencies have transparent ledgers and operations, some coins like Dash and Monero are falling behind for financial compliance purposes.
The Japanese financial regulator is currently applying heavy pressure on crypto exchanges to remove Dash and Monero from their platforms. With such a large investment market in Japan, this could prove absolutely devastating to the coins’ value.
Is Dash All Doom and Gloom?
The answer is – it is hard to tell. Current forecasts outside of market conditions and stricter regulation are all looking very good and commentators are quick to highlight how successful the coin has been so far.
With market changes and tougher regulation, Dash will need to go a long way to prove that they are doing all they can to prevent the coin being used for criminal purposes. This could be by implementing new features on the platform or removing the privacy features it currently has.
This is likely to divide Dash users as there are a lot who are using the coin legitimately and wish the coin to remain privacy-based and protect their data. Others have been more pro-active in the discussion and suggested relinquishing some element of privacy in order to keep the currency growing.
The Final Part of the Jigsaw
Wrapping up this article, we are keen to point out how well Dash has done to date. With the exception of the blip on its graph from the boom, it has always competed well in a very competitive marketplace. With a strong and dedicated mining community and user base, Dash continues to be traded in high volumes each and every day.
To trade in Dash, you can find it on the exchanges under (DASH). It is safe to say there may be challenging times ahead, but all coins go through some degree of uncertainty. The great news is that many of the big names overcome their obstacles and bounce back better than ever.