- Price $165.06
- Market Cap
DASH is often described as an alternative to Bitcoin. It was created back in January 2014 as a fork of Bitcoin, which meant that much of its code was already built on the Bitcoin network.
It was created as some developers felt there were some aspects of the network that could use some improvement, and this resulted in a bit of a divide between those who wished to improve the network, and those who wished for it to remain the same.
In The Beginning
It is for this reason that DASH was created. The technologies that it uses, InstantSend and PrivateSend, meant that transactions could be made very quickly and anonymously, which is in complete contrast to the Bitcoin network. Another major feature is an autonomous governance system that allows the system to allocate resources for the development of DASH by voting on various proposals. This helps to streamline the process of both improving and marketing the coin.
DASH was previously known as both XCoin and Darkcoin, before settling at DASH in March 2015. Unlike many other cryptocurrencies, it is self-funded, which means that the platform pays people and business to contribute and improve the network.
It is still one of the most talked about cryptocurrencies in the network, and since its inception into the market it has been a coin to look out for.
Early Price Drop
When the coin first came into existence on the 14th February 2014 its price was at a small 37 cents. Although this doesn’t seem like much, it is fine for such a new cryptocurrency into the market. It didn’t take long to start to rise in value, reaching the dollar mark just 3 days after its release, showing on the charts with a value of $1.45.
By May 2014, its price had skyrocketed to a price of $5.76, then doubled in the same month to a price of £11.23. For those that had invested in DASH at its founding, this was a fantastic thing to see, and it stayed around this price until July, when it began to take a dramatic turn, and not for the better.
The value of the coin began to decrease on an almost daily basis, by August it had descended all the way down to $1.54. Investors didn’t see much change in the market from this value for the following year, remaining pretty much stagnant until August the following year when it started to rise again.
The August 2014 Price Surge
On the 6th of the month its price had risen again, and reached the value of $10.55, then remained stagnant again for many months. This surge in August was likely to have been caused by a combination of factors.
It was around this time that the coin partnered with the digital payment service of BlockPay. This resulted in a boost to the usability of Dash as a whole, as direct payments could be made in some brick and mortar stores, something that very few cryptocurrencies are currently able to offer.
Reaching Four Figures
On February 2017, it had reached the value of $20. It was at this point that things began to get really interesting for those that invested in the cryptocurrency. In March, its price had reached the $100 mark, and then by July its valued had doubled, with the coins worth $209.48. By August things were looking up further, breaking $315.37 on the 24th August.
It wasn’t long after this that Dash broke the $1000 mark, where it remained at this healthy value until the 14th January 2018. A reason for this rapid rise in DASH value could be attributed to its partnership with the Wall of Coins. This allows for the transaction of involving digital currency with various financial service providers such as Well Fargo, Western Union, Bank of American, MoneyGram and Chase Bank. This means that users are able to deposit cash in these financial institutions and then get DASH deposited in their chosen wallet.
The Current State Of The Market
There is not denying the fact that DASH has not been on top form in recent months, with many investors licking their wounds in April 2018. The price on the first of the month was at $295.69, and although still a significant price, it has been much better in the past.
That doesn’t mean to say that this fall will be around for a long time however, as it is looking likely that by investing today, you will see significant gains in the future. The picture could be completely different in just 6 months’ time.