The Cryptocurrency market has been turbulent for the last 3 months, with several cryptocurrencies experiencing a high degree of volatility when it comes to price levels. Even the leaders, namely Bitcoin, Ethereum, and Ripple have not been spared from such sudden price movements. One such coin is Dash, which has been on the rise for quite some time now, consistently reaching the 10th rank consistently from last year. Dash has a supportive community behind it as well as a technically sound development team which has contributed to its overall stability.
A little About Dash
Dash, which was previously known as DarkCoin, was first introduced in 2014 as an open source peer-to-peer cryptocurrency. Its original aim was to address the many different problems plaguing Bitcoin at that time, including offering instantaneous transactions, private transactions, as well as operating on a self-governing and self-funding system. It has exceeded a lot of people’s expectations, amassing a market cap of $3,579,884,852, ranking at 12th as of 20/04/2018. Currently, it is valued at $446.35 USD and has been one of the most stable cryptocurrencies since its inception.
Dash: The investor’s Target
As mentioned above, Dash has a very dedicated community as well as very loyal investors who believe in the project’s use case and goals. Indeed Dash has withstood the overall crypto-slump experienced earlier this year, with its price only marginally affected. In other words, Dash has been addressing the issues which plague some of the older altcoins, including speed. Below are certain factors that have contributed to the relative stability of the coin, since its inception in 2014.
- User Friendliness: The Dash team has always put emphasis on the usability of their technology, and hence established a global brand. This is evidenced by the several name changes that the altcoin went through, including dropping names like “Xcoin” and “Darkcoin” Before settling on a band name with a universal appeal. The name Dash itself is derived by combining the words “Digital” and “Cash”. The crypto community welcomed Dash with open arms when it launched, as the only other competitor, Bitcoin was significantly slower.
- Transaction Processing Speed: Dash always puts an increased emphasis on improving Bitcoin’s transaction speeds, by introducing their own transaction feature known as InstantSend. InstantSend allows real-time processing of transactions, closely backed by another feature known as PrivateSend. PrivateSend, on the other hand, provides complete anonymity based on blockchain standards.
- Partnerships: Dash, along with other currencies like Ripple and Ethereum has extended their partnerships all around the world, with Dash teeing up globally with over 400 business entities worldwide. Dash is also working on newer ways for small to medium scale merchants to adopt the Cryptocurrency accordingly. A prime example would be Dash’s partnership with the Apple app store, where Dash can be used as a payment option.
- Investor’s comfort Zone: One of the biggest reasons which contribute to Dash’s popularity would be the cheap transaction fees. As a result, Dash has experienced a higher degree of “hodling” among the general populous. Dash’s volume has been ever growing thanks to the increased number of investors over the years,
Dash is certainly one of the most stable cryptocurrencies that have existed since the beginning of the Cryptocurrency market. 2017 was the year of cryptocurrencies and Dash in particular, with Dash’s value increasing from $11.33 on 31st December 2016 to a high of $1,093.39 as of 1st January 2018. With such a monumental rise in value, the prospects indeed look high for Dash’s future.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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