With so many people paying attention to Bitcoin and Bitcoin Cash right now, one would almost forget Dash has reached a new all-time high as well. It is the first time this popular altcoin saw its value rise to $300 and above. It is evident good and exciting things are happening in the world of Dash right now, even though few people seemingly pay attention to it right now. It will be interesting to see if it can get into the top 5 based on market cap, as the competition is heating up in this regard.
Dash Reaches new All-Time High of $307
It is quite remarkable to see how things have changed in the world of Dash. This privacy-centric cryptocurrency has been around for several years now and has one of the more solid reputations in the innovation department. Several of its features have gotten a lot of positive attention, including the InstantSend feature for anonymous transactions.
Moreover the Dash wallet for iOS has been approved recently and there will be a Dash-oriented conference in a few weeks from now. All of this goes to show things are evolving at an accelerated pace as far as Dash is concerned. It is certainly possible the currency will follow a similar price path like Ethereum did earlier this year. A value of $400 per Dash would not be entirely overvalued by any means, as it is evident the currency has a lot of value to the right people. Plus, there are just over 7.5 million coins in circulation, which is a lot lower than most other currencies, including Bitcoin.
One has to keep in mind this low supply also paints a skewed picture when looking at the Dash market cap. Despite a value of $298.19 per Dash right now, the total market cap is still below $2.5bn. That means Dash is only the eighth-largest cryptocurrency when looking at things from a market cap perspective. That is not entirely fair, to be honest, although it is the way things are calculated in the world of cryptocurrency. Real Dash supporters will not be concerned over this ranking by any means, though.
There are a few different exchange platforms pushing up the Dash price as we speak. No one will be surprised Bithumb – of all exchanges- has the most volume for Dash right now. Bithumb has been quite bullish for all currencies they support right now, including Ethereum, Bitcoin Cash, and to a certain degree, Bitcoin itself as well. Right now, Bithumb is generating over 43% of all Dash trading volume, which is more than twice as much compared to Poloniex and over four times the volume of Bittrex. An intriguing development, to say the least.
As one would come to expect, the Bitcoin trading markets are bringing in a lot of volume for Dash, although there is some solid USD and USDT trading volume as well. That is quite interesting to see, as it also shows a lot of people put their faith in USD Tether these days. It is a digital representation of the US Dollar value, thus it makes sense it grows a lot more popular as time progress. A lot of exchanges support USDT trading markets for the top cryptocurrencies as well.
All things considered, things are looking extremely good for Dash and its supporters right now. Whether or not the Dash price will continue to go up in the coming days and weeks, is hard to predict. It is certainly possible we will see some more price gains over the coming weeks leading up to the conference. Some interesting announcements should be made at that time as well, although it is unclear what the future will hold. It is certainly worth keeping your eye on the Dash price.