It doesn’t happen all that often most top 10 cryptocurrencies are in the green at the same time. Especially with the Bitcoin price seemingly preparing for another leg up, interesting things are bound to happen. The Dash price is still going strong after surpassing $500 last night. Right now, it seems we may see the Dash price go all the way to $600 in the coming hours, although maintaining the momentum becomes more difficult for every dollar gained.
Dash Price Keeps Soaring to new Heights
It has been a remarkable year for most cryptocurrencies, including Dash. Although Bitcoin has gotten most of the attention when it comes to price gains, one shouldn’t overlook the altcoins gains either. Looking back at the Dash price one year ago, its value was well below the $10 mark. People who stocked up on Dash at that time and are still holding today have seen a 6,000% increase in portfolio value. That is quite remarkable, to say the very least, as it makes Bitcoin’s price gains pale in comparison.
While this growth is nothing short of incredible, it remains a bit unclear why the Dash price has gone up in such spectacular fashion Granted, there have been some technical updates and a strong marketing push across Venezuela this year. Whether or not that alone warrants such a strong price increase, remains anybody’s guess right now. Most of the Dash value is derived from speculation, but that also applies to virtually every other cryptocurrency or digital asset in existence today.
Despite facing some struggles when it came to surpassing $400 permanently, the Dash price has eventually shown some more legwork and continues the push without too many problems. More specifically, one Dash was worth about half of what it is today just two months ago. It is evident the Bitcoin price surge has allowed most altcoins to thrive as well, although it is certainly possible we now have even more cryptocurrency speculators actively diversifying their portfolios. Where all of this will lead in the coming years, remains to be determined.
Thanks to over $302m in 24-hour trading volume, things are looking pretty solid for the Dash price right now. It is certainly possible we will see the Dash price reach $600 before the day is over, but it is unclear how much higher the price can go after setting this new all-time high. After all, one Dash has never been worth over $560 before, which makes this a pretty important milestone for the popular alternative cryptocurrency.
As is to be expected, the Dash trading volume mainly originates from the Bithumb exchange. South Koreans have shown a massive appetite for all cryptocurrencies as of late, which is part of the reason why the Dash price has soared to new heights these past few weeks. Bithumb alone generates over 43.5% of all trades these past 24 hours. Bitfinex and Poloniex complete the top three which is pretty interesting to see at this point. Two fiat currencies leading the pack shows people actively looking for ways to buy cryptocurrency rather than just diversify Bitcoin holdings.
It will be interesting to see what comes next for the Dash price in the coming days and weeks. Although the current demand is still pretty high, we may see some big changes before the year is over. Assuming Bitcoin can reach $10,000 before the year comes to a close, the Dash price may look very different compared to right now. At the same time, we may look at very different rankings based on market cap. Cryptocurrency remains a very mysterious and intriguing creature, that much is rather evident.