If you’re an altcoin in the currency cryptocurrency environment, few things are going to serve as potential upside drivers more than a listing on Coinbase. As many reading will likely already be aware, the exchange/wallet service is basically THE company as serving as a bridge between the cryptocurrency and mainstream financial sectors is concerned and the ease with which individuals can head on over to the platform and purchase a cryptocurrency means that a listing brings with it a flood of fresh demand, based purely on the fact that an individual doesn’t have to waste time exchanging fiat for a coin like Bitcoin (BTC) and then exchanging that BTC for their small capitalization coin of choice etc.
Pick up a holding in a small coin ahead of an announcement that leads to a Coinbase listing, therefore, and you’re in for a pretty substantial payday.
So what’s the next coin in line to achieve a listing?
We think it’s Dash (DASH).
Sure, people will point out that higher capitalization coins like Ripple (XRP) and Stellar (XLM) are first in line or are at least ahead of Dash as far as qualification is concerned.
And sure, there is a degree of validity to the documents.
The thing is, however, both XRP and XLM form the basis of financial transaction systems that, in turn, are designed for integration with enterprise-level technology. The two cryptocurrencies facilitate function of this technology, but they exist to perform against a very specific use case.
Dash, on the other hand, is a whole different animal.
Some reading might remember when this one was called DarkCoin, or even XCoin for the old-timers, and, just as with bitcoin, DarkCoin got its big start as being the coin of choice on many of the underground markets.
The reason for this?
Because of its privacy features. This coin does what many others do not – it offers the potential for anonymous transactions and transaction masking as well as wallet balance hiding.
This, of course, makes it perfect for underground marketplaces but, just as was the case with bitcoin, it’s now grown up and has a very real potential to replace some of the higher capitalization coins as a transaction token in the above-ground marketplace ecosystem.
The Dash rebranding went a long way towards shifting some of the negative connotations associated with DarkCoin and, as things stand, this is the preferred privacy coin (yes, we are aware of Monero, but for us, Dash is one step ahead) and it fills a real gap in the market right now.
Imagine if somebody wants to pay rent with cryptocurrency but doesn’t want anybody with a blockchain explorer to be able to see how much they’re paying. Similarly, imagine if somebody wants to accept a paycheck in cryptocurrency. There are thousands of more examples of the sort of use case in which the ability to remove the visibility of a transaction from a blockchain could be a huge benefit.
When considering a new addition, CoinBase looks of the following:
- Mission and Values
- Legal and Compliance
- Market Supply
- Market Demand
- Crypto Economics
And Dash scores incredibly well against each of these points.
Sure, there may be some concern surrounding the compliance side of the equation (given a small team and an anonymous lead dev), but, as far as everything else is concerned, Dash looks like a winner.
We think a $10 billion capitalization pretty much overnight is far from unrealistic in the event of a listing or any rumors suggesting that a listing could be around the corner. Based on current supply, that’s a price target of just shy of $1300 a coin.
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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.
Image courtesy of DashCentral