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Over the past two weeks, the price of Dash has skyrocketed , its value has gone up by more than percent. This incredible surge has taken Dash higher on the list of all cryptocurrencies by their market capitalization, displacing the previous favorites Ripple and Litecoin. Right now, Dash is the third most popular cryptocurrency, right after the undisputed leaders — Bitcoin and Ethereum.
In addition, the average daily trading volume of Dash is now similar to that of Ethereum, the second-most-popular cryptocurrency after Bitcoin: The altcoins have similar trading volumes despite a wide discrepancy between their capitalizations: Dash is a cryptocurrency alternative to Bitcoin.
The developers were trying to remedy some aspects of Bitcoin that they considered weak, which resulted in rather serious differences between the two. Its proprietary technologies InstantSend and PrivateSend allow the users to send transactions in a very quick and absolutely anonymous manner, respectively. This is a stark contrast to Bitcoin , whose network can take anywhere from 10 minutes to several hours to confirm a transaction, and the transactions themselves are now less anonymous than ever, thanks to the advances in the field of the Blockchain forensic analysis.
Another major feature is an autonomous governance system , which allows the Dash network to allocate resources for the development and marketing of the coin by voting on proposals.
A proposal can be created and introduced to the network by any person. For example, Amanda B. To sum this up, Dash can be described as a faster and more anonymous alternative to Bitcoin, with an added feature of smart decentralized governance which streamlines the process of improving and marketing the coin.
Apart from a short period of growth and decline back in May to September , the price graph has been steady, until recently. So the current turbulence is the first one in the history of the coin. The surge is likely to have been caused by a combination of factors, such as development news about Dash and speculative activity.
For one, there has been major news impacting the user value of Dash: However, that news alone could not make Dash the third most popular coin. One more possible reason for the sudden spike is thought to be speculative activity. Poloniex, an online cryptocurrency exchange, is a place with the largest amount of Dash trading volume, by far.
Poloniex also offers margin trading option. It means that a person allows a trader to use their assets to make deals in exchange for a percentage commission. After the supposed price drop, the traders then buy the assets back at a lower value, return it to the lender and pocket the difference. That creates a positive feedback loop, whereby a growing price provokes shorters into selling, and them selling drives the price even further up.
This is seemingly what happened with Dash. Possible retracement and stabilization in between the pre-surge price level and the current value are expected. Bitcoin, for instance, has experienced a similar scenario back in late to early That surge has likely been caused by similar factors: Despite the obvious differences between the two scenarios, the movements of the Dash price have so far been quite reminiscent of those of Bitcoin back in late So, it is quite reasonable to expect a similar outcome this time around.
To use the Congressional Review Act is one of the ways by the dissenters of the new net neutrality. This time, tech companies of all sizes expressed. There are basically two types of people engaged in the cryptocurrency business.
Nowadays, the competitive business world focuses a lot on how the digital currency market is doing. Cryptos are reaching new heights! Bitcoin is still rising! Bitcoin is truly unstoppable! It continues to break its records over and over! Are you looking for a good investment? Things have finally changed, but no worries because this is a good. What happened with Dash? Dash is an altcoin with a focus on privacy and high speed of transactions.
What has Dash price been so far? What are the reasons for the surge in Dash price? What is to happen next with Dash? Are there other examples of cryptocurrency price surges? You may also read!
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