Dash Price - DASH Price Index & Live Chart
Dash is an open-source peer-to-peer (P2P) cryptocurrency launched in 2014 by Evan Duffield. It originated as a hard fork from Bitcoin. The coin was originally named Xcoin, after which it came to be known as Darkcoin because it was used in darknet markets. In March 2015, it was renamed as Dash to signify “Digital Cash”. The network offers better security and privacy to the users using Masternodes. Masternodes act as special servers that are responsible for private transactions and have a vested interest in keeping the network stable. Another unique aspect of the coin is that it is self-funded and self-governed.
Key Dash Price Metrics
Dash Price Graph & Exchange Rate
Dash (DASH) Price History
In March 2015, Dash had a value of around $3. The fork to create the coin introduced a bug that resulted in the mining of 1.9 million DASH coins in the first two days.
It took a couple of years for Dash to show significant gains. The coin started doing well in 2017 as did most altcoins. There were several developments to the platform in 2017 that helped boost the valuation. For example, in November 2017, an announcement was made about an upgrade that would reduce the transaction costs to a negligible $0.0001. In December 2017, the coin soared to an astounding all-time high of $1,540.
In 2018, even though the valuation deflated considerably due to the overall lull in the cryptocurrency market, Dash had a market capitalisation of $4.3 billion and it was ranked amongst the top 12 cryptocurrencies in the world. In May 2018, the platform entered a strategic partnership with Paycent, during which the value of the coin rose to around $478.
Dash has been trying to push its coin to regions where there is uncertainty, marketing the digital coin as an alternative to fiat currency. Venezuela is one such example where DASH has become very popular. In 2019, however, Dash showed a predominantly declining price trend with the value of the coin dropping to around the $42 mark.
In 2020, Dash price showed significant gains during the beginning of the year. However, the coin went back to its $40 level during the March crash. It managed a further surge the following year, peaking at about $440 in May 2021.
3 Key Instances for the Evolution of Dash Price
2017 was, by far, the best year for Dash. In December 2017, the coin achieved its all-time high of $1,540. The success of the coin can be attributed to the overall success of the crypto market during that time and the series of positive developments within the platform. For example, in November 2017, Dash deployed a software upgrade that allowed transaction costs to be reduced to a negligible $0.0001.
Uncertainty surrounding COVID 19
On Thursday, 12 March 2020, now referred to as “Black Thursday” the crypto market collapsed due to the crisis around the coronavirus pandemic. Bitcoin’s value was slashed in half and other altcoins followed closely. The price of Dash fell from around the $75 mark to $45 within two days. This would have presented investors with a good buying opportunity because the coin did pick up to around $75 by May.
Battle for the $100 mark
DASH is facing a tug of war between the bears and the bulls with the bulls trying to push the price beyond the $100 mark. However, the price of the coin has now dipped by 5% in 24 hours. The value of Dash is around $77 at the time of writing. There is an increased positivity around the coin with the number of masternodes on the network marking a record high of 5002.
Key News for DASH Price
Mainstream media news and social media trends have an impact on the cryptocurrency market. For example, the anticipation and buzz around DeFi applications could cause the value of a privacy-centric blockchain like Dash to escalate in 22022.
The governing organisation for Dash entered a strategic partnership with StakeHound, which allows the Dash community to stake their coins for another crypto called StakedDASH. Users can gain by staking their coins in the StakeHound pool leading to more StakedDASH rewards. The news of this partnership caused the value of the coin to shoot up by 12% in 24 hours.
Conversely, regulators of countries like the U.S have started looking into privacy coins like Dash and Monero. Attorney General for the U.S announced the release of a book termed “Cryptocurrency: An Enforcement Framework” which talks specifically about coins that provide enhanced anonymity. This regulatory noose dangling in front of the coin could potentially lead to various cryptocurrency exchanges delisting the coin. However, only time will tell if this too is a hurdle that the platform can easily surpass.
Dash Price Technical Analysis: How to Identify Good Entry/Exit Points when Trading
An entry point is a time when you venture into an investment and an exit point is when you sell or exchange an investment. Identifying good entry and exit points are imperative to a good ROI. While trying to devise an investment strategy you need to be patient. You need to do some research on the best coins to invest in. One of the best techniques is to do technical analysis on the coin by looking at the trading signals and price movement patterns. You can also analyse other aspects of the coin or blockchain platform like its use cases, any recent developments that would allow its price to soar in the coming months etc.
Have a Clear Goal
Having a clear goal helps you make sound and rational investment decisions. You can split your financial strategy into short term and long term objectives. Say for example, if you know that Dash is showing a bullish trading signal, but the prices are still low, you can choose to invest in Dash to get a quick ROI to meet a short term goal.
Or say, if your long term goal is to fund the down payment for your house, and the recent developments around the Dash platform look promising, your strategy could be a long term investment into the coin where you are not worried about the short term price fluctuations. As soon as the gain you planned for is achieved, you can exit the investment.
Make Use of Analysis Tools
Technical analysis is a key technique for making informed investment choices. It involves using real live data for factors like the value and volume of a coin to predict its future performance. This technique works on the principle that history tends to repeat itself. Visually mapping the historical price of the coins onto graphs and charts is an effective tool to analyse recurring patterns and trends.
The candlestick chart is one such useful representation. It is depicted as a rectangle with a line (wick) coming out of the top or bottom; red for negative price movement and green for positive price movement. If the wicks are long it means that the market is quite volatile. If the top wick is long, it could mean that the coin was at some point overvalued. A long wick at the bottom could mean a buying opportunity since the price has dipped a lot and might not go lower.
Apart from Candlesticks, other analysis techniques you can use are analysing support and resistance levels, looking at trading volumes, researching on indicators like relative strength index, moving averages, and Fibonacci.
Fundamental and Sentimental Analysis
Sentimental analysis is gaining importance nowadays as a great complementary technique to strengthen your research before buying Dash. While trading in a volatile market like that of cryptocurrency, it is important to inform yourself about the trending news. Understanding community sentiment could provide you with good investment insights. There are data analytics tools that capture the mood of the market and provide market indicators that are quite beneficial for you.
Fundamental analysis is another important analysis technique that focuses on information related to the platform like the use cases it caters to, the privacy options the coin provides and any recent upgrades or developments that enhance the system. Additionally, key metrics like transaction count, on-chain metrics and transaction value are used for better trading insights.
Frequently Asked Questions
As with any cryptocurrency, Dash can be affected by various external factors like the performance of Bitcoin, the performance of normal financial markets, the mood of the crypto community, and regulations around the coin.
There are various factors that could affect the outcome of an investment. Having said that, Dash has some unique use cases and is showing constant improvement in transactions speeds and costs. Dash has also been gaining popularity amidst countries like Venezuela and Africa as an alternative to fiat currency. Make sure you do a significant amount of research before you invest in any coin.