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DASH Coin Leading the April Rally

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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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