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DASH Coin Leading the April Rally

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DASH coin

The crypto market recently saw quite a rally, with nearly every cryptocurrency in the space experiencing massive gains. However, one of the early coins to blow up was actually a privacy coin, Dash (DASH), which surged by 9% and became one of the rally leaders.

The growth started during the early Asian hours on Monday, April 1st, when DASH spiked to reach the market cap of $932 million, while its trading volume went up to $296 million. Meanwhile, its price went up from around $106.45 on March 31st to $118.94.

Soon after the initial burst, DASH started losing the momentum, and its price actually saw a minor correction which brought it back down to $116. However, this was when the rest of the market joined in, and the bull run took Dash up to its highest point in 2019 — $135.

Dash reached this price on April 3rd, two days after the initial surge, which is when the bull run started losing strength as well, causing a number of coins to experience corrections. Dash was among them as well, although its drop from $135 got softened by a strong resistance at $120. After the correction had ended, DASH price was still well above its highest point prior to the industry-wide rally.

DASH bounces off after a small correction

At the time of writing, DASH is seeing growth once again, with its price currently sitting at $131.19, with 3.14% growth in the last 24 hours. And, while this growth is against the USD, DASH is also holding its own against BTC as well, with the price of 0.02636302 BTC at the time of writing, after 3.50% growth in the past 24 hours.

The coin is also seeing quite a lot of usage, judging by its trading volume that spiked to $366.2 million in the last day. Meanwhile, its market cap at the moment sits at $1.140 billion. However, even with the market cap of this size, Dash still remains at the 14th place on the list of largest cryptocurrencies by market cap, indicating that the entire market is performing much better than only a week ago.

In fact, IOTA (MIOTA), which currently occupies the 15th spot on the list, is the first coin with a market cap below $1 billion, although even MIOTA is quite close to this milestone, with the current market cap of $967.17 million.

What is next for DASH?

As for DASH, the coin continues to grow, currently making another attempt at breaching the $135 level. It is difficult to say whether or not it will be successful at doing it, as the barrier stands strong, acting as a major resistance for DASH. However, it is not impossible for the coin to break through, as its already did the same with another massive resistance level at $120, seemingly without much effort.

If DASH price does get rejected when it approaches the $135 resistance, it will likely experience a correction which should not be a major one, but it might still push the coin’s price back down towards the support at $120. However, it is also very likely that DASH price might simply remain below the resistance, and wait for the next market-wide rally to start.

Whatever happens next, DASH is currently at the levels that were not seen since the mid-November market crash, which is certainly encouraging for investors and traders, and its current behavior indicates that its price is ready to continue the growth.

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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.

Photo by Mike Bird from Pexels

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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