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Dash (DASH): Down From the Top 10 List – What’s Next?

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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.

We will be updating our subscribers as soon as we know more. For the latest on DASH, sign up below!

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

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

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Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

Last week on Thursday, cryptocurrency experts took notice of…

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Bitcoin Price is in Consolidation Mode Despite Market Optimism Post-Fed Decision

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Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.

Economic Outlook

Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.

The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

Additionally, the central bank indicated that three rate…

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Bitcoin Price Blasts $44K in Spectacular Surge as Spot Bitcoin ETF Approval Looms Large

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Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.

Fundamentals

Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.

According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.

Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…

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