As one of the most popular cryptocurrencies, Dash faces a great deal of speculations and discussions whether it has the potential to skyrocket in value. Since the world of cryptocurrency is so volatile, you can expect both ups and downs in the future. However, many experts anticipate an overall upwards trend for Dash. To gain a better understanding of whether the Dash price has the potential to explode, consider what experts have to say on the matter.
A Refresher of Dash’s History
To help put the price predictions of Dash into perspective, take time to look at the history and why its creator developed this project. Evan Duffield launched Dash in January 2014, and when it began, it was a fork of Litecoin. In January 2015, this changed and Dash became a Bitcoin fork. If you look for an older history of Dash, you will notice that XCoin was the original name, followed by Darkcoin, with the name Dash arriving in March 2015. The name Dash comes from “Digital Cash”.
Duffield created Dash to overcome some of the disadvantages associated with Bitcoin, including anonymity. The resulting crypto, Dash, has multiple key features that separate it from this first cryptocurrency and many of the others you will find in the market. Here are just a handful of its advantages:
- Cheap and quick transactions;
- Highly decentralized;
- Advanced development since 10% of block rewards go directly to funding projects users vote on;
- Proven privacy and a bounty offered to those who can find bugs;
- Advanced security, including high-tech encryption;
- First cryptocurrency with masternodes for a two-tier network;
- Easy set-up of a masternode, allowing users to earn income;
- Personal wallets control funds.
Of course, there are also a handful of disadvantages associated with Dash that may limit its future potential. For instance, the term “Dash” already has many associations, thereby hurting brand recognition. Additionally, Dash still needs significantly more adoption to grow. There are also some other similar cryptocurrencies in the market, so the competition is quite tough.
Current Stats for Dash
To better understand the predictions for Dash, you need to get a feel for where it currently sits in the cryptocurrency market. CoinMarketCap ranks it at number 13, which is not as high as many of the other major cryptocurrencies, but still a very respectable rank, given the hundreds of altcoins available.
At the time of writing (August 28), the price of Dash is $184.11 or 0.02658309BTC, with increases of 26.19 and 22.53 percent, respectively. There is a maximum supply of 18,900,000 DASH with a current circulating supply of 8,282,401 DASH. The current market cap is $1,524,533,255 and the 24-hour volume is $340,212,081.
Predictions from Smartereum
With an idea of the current value of DASH in your head, it is time to start looking at some of the projections for this cryptocurrency. Smartereum predicts:
- $1,600 by the end of 2018
- $5,200 within five years
Based on that information, Smartereum suggests that investors not only keep their DASH but also buy more of it. They do, however, point out that you should buy it during one of the occasional dips to get the most of your money. In detailing more information about why they feel Dash has the potential to explode in price, they point out that it already works with multiple payment programs, showing that adoption of DASH is underway. Smartereum also emphasizes that assuming Dash maintains its scalability, the platform should have no problem keeping up with expansion, which will increase the token value.
Predictions from InvestingHaven
The predictions on Dash from InvestingHaven are a few months old already, but they are still worth examining to get a well-rounded overview of expectations. Their forecast is that Dash will reach $1,500 in 2018, but with some caveats. They state that the prediction only applies if:
- Bitcoin continues its upward trend
- DASH stays above $400
Like other experts in the industry, InvestingHaven predicts good things for Dash because:
- It is highly scalable
- It offers anonymity
- It has a decentralized but structured community
The only thing to keep in mind is the conditions listed in InvestingHaven’s prediction. One of these was that Dash must remain above $400. Since Dash currently sits just below $200 at the time of writing, that no longer applies.
Predictions from The Economy Forecast Agency
Another source for cryptocurrency predictions is the Economy Forecast Agency, which maps things out in great detail. This website lists their predictions in charts displaying opens, lows, highs, closes, and percentage changes for the next several years. Some predicted highs to pay attention to include:
- August 2018: $225
- January 2019: $118
- August 2020: $190
- December 2020: $219
- August 2021: $365
- November 2021: $388
- March 2022: $404
- September 2022: $231
Based on those figures, it is clear that the Economy Forecast Agency does expect an overall increase in the price of Dash. They do, however, seem to feel that it will continue to decline before rising. The figures from this organization indicate that they do not expect Dash to start steadily rising until late 2019, at which point it will do so but slowly. These predictions are much more conservative than most others.
Combining the Predictions
The range of predictions involving Dash shows the degree of volatility and uncertainty in the world of cryptocurrencies. Most experts agree that Dash will increase in value eventually. However, the amount of time that you will need to hold onto it to see a profit varies. Some suggest you temporarily trade your DASH when the price drops, while others feel that holding onto it is the best plan.
Overall, you need to evaluate factors that can drive a Dash price explosion compared to those that can limit it, such as:
+ Limited supply
+Increased acceptance among merchants
+An active community
-Instability in crypto prices
-Improvements to Bitcoin
-Lack of adoption
When it comes down to it, there is no way to predict with accuracy whether the Dash price will explode. Every source you consult will have a slightly different opinion, although most feel that DASH will increase in value. Just remember that even some who predict an increase in value expect that growth to be slow or include ups and downs along the way. As such, it is crucial to do your research before deciding whether to invest or trade.
For the latest cryptocurrency news, join our Telegram!
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.
Image courtesy of Pexels
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.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
WishList Member Debug. [This is a notification for developers who are working in WordPress debug mode.]
A non-numeric value encountered
Location: /home/cmoqwic7tpcd/public_html/wp-content/plugins/wishlist-member/legacy/wpm.php line number 2525