Things were going pretty well for Dash, having this cryptocurrency listed on top 10 most valuable and potentially profitable digital coins. It seems like Dash creators and investors had nothing to worry about. However, you must never get too comfy especially around competitors such as TRON. What happened and how did Dash come off the top 10 list?
Dash and Blast from the (recent) Past
Dash is doing pretty well even in the first few days of January as this digital coin received another increase. This time raising value for 5.91%, which brought in an amount of 1,325$ per only one coin – this is significantly higher than the majority of coins available on the market. So in case you have acquired Dash during its struggling years, you are probably going head over heels right now. But, regardless of the recent increase and the fact that Dash is stable with the acquired rising price per one coin, Dash lost a well-kept spot on the top ten list of best cryptocurrencies, now taking place number 11.
With a massive market cap of total 10,340,952,461$ and over 7 million Dash coins in circulation, Dash is more than profitable in the world of cryptocurrencies. Dash, short from Digital Cash, is one of the first coins to address the flaws in original digital coin, Bitcoin, that way working on implementing novelties that would make transactions even easier than it was with Bitcoin. Dash, of course, managed to do so, thus making it Bitcoin’s little brother that earns less but is worth more in practice.
When compared to Bitcoin, Dash has implemented novelties in the field of privacy, and quick transactions, where your transactions are untraceable by anyone and your address and amount of transactions are invisible, which isn’t the thing with Bitcoin. That is why Dash managed to jump up to the top 10 list of most valuable currencies available on the market of digital currencies.
But just like Dash made Bitcoin look less developed and even made it appear as a piece of old technology at times, now is Dash being pulled out from the top by a rather small coin, called Tron.
You have undoubtedly heard about Tronix (TRX) or otherwise known as Tron, a digital coin closely related to entertainment industry being operated on Tron decentralized platform that serves the purpose of supporting and helping the development of entertainment industry, making entertainment content easily accessible, more available for purchase and easily purchasable. On January the 4th TRX made it to the top 10 list, taking the 9th place while expelling Dash and sending it below the line. Now Dash is taking 11th place in the global coin rankings while Tron is collecting the glory of a newly established top-notch coin.
How Come TRX managed to replace Dash on the Top 10 List?
You might wonder how a small coin like Tron, only worth 0.17$ per one coin was able to replace Dash with its value of over 1000$ per one unit. The ranking, of course, doesn’t have anything to do with the price of either of mentioned coins. If we were to get by that sort of logic where top spots go to the coins with the higher price per one unit, Tron would be far from top 10 lists as it isn’t even worth a single dollar per one coin. So, what is going on?
The entertainment industry is healthy and since TRX is closely related to entertainment, serving the purpose of operating on TRON platform where people can quickly distribute, share and exchange content that can be categorized as entertainment industry related content. So, Tronix is a coin with purpose, unlike Dash that operates solely for transactions.
Newer coins tend to address older coins’ flaws, continually striving towards improvements and coming up with something others didn’t think about, so you have different currencies promoting weed, gambling industry, art, science and technology and so on. Even though these coins are not as benevolent in price at the current moment, the purpose behind their existence is making those same coins more desirable, so at the end community and users who are believing in a new way of making transactions and exchanging goods are the ones keeping coins alive after all.
Since TRX is receiving more attention, interest for this coin has grown over time, so naturally, this coin is climbing up the ladder of top coins. Even though Dash is off the top 10 list, the newest ranking result doesn’t affect its value. Coins lose on value when something changes on the market, mostly when currencies are being more sold than bought or massively sold at lowest and sometimes under lowest price when 24-hour volume is taken into consideration. Hopefully, Dash investors won’t have to worry about that as Dash isn’t showing any signs of having potential meltdown and decrease in prices.
However, TRX is looking forward to new investors and partners, as although not yet official, Tronix founder has announced partnerships with several big companies that remain unnamed at this point.
All in all, 4th of January was a good day for TRX and Dash didn’t suffer as its price is still experiencing increases, making this coin even more worthy than it was the last year. TRX investors are looking forward to a successful year and Dash holders to take a break and enjoy as they are observing Dash coin rising and gaining in value.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of coinmarketcap.com
Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…
Wisebitcoin Launches Professional-Grade Crypto Exchange
Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.
In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.
For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750.
Beyond leverage, Wisebitcoin additionally offers a simple and…