Cryptocurrencies are volatile financial assets, and their digital nature does not guarantee their survival against tough market competition. Among the cryptocurrencies to look out for is Dash.
Dash is less of a cryptocurrency and more of an open-source protocol. It runs on the Bitcoin blockchain and has gained popularity for its different market approach. According to recent DASH news, the price of Dash coin grows primarily due to the increasing speeds of transactions. It also grows when the level of privacy of these transactions increases. As of 2021, all Dash coin transactions are near-instantaneous in the market. And, it is quite impossible to track Dash coin movements on the blockchain.
Why was Dash Coin Invented?
In 2014, the Dash protocol originated from the Bitcoin blockchain. It started under the name Xcoin and became an instant hit for its privacy features. It helped users keep their transactions private. The creator of this coin, Evan Duffield, renamed it “Dash” and promoted it as “DASH” in the market. The main reason why Dash was invented was to promote the privacy capabilities of crypto transactions. It showed users how it could become impossible to track transactions executed on the Dash protocol.
This way, Dash became the first privacy-centric cryptocurrency in the world. It works like Bitcoin but has more unique features on transactional privacy.
Dash Coin Price Fluctuation – Stats So Far
Factors that regulate the prices of cryptocurrencies can change. These changes constantly impact the market movement of cryptocurrencies. They also indirectly affect the value of associated altcoins. For example, sharp movements in the Bitcoin prices may cause Dash coin price fluctuations as the Dash protocol is derived from the Bitcoin blockchain.
- Dash started at a price of $0.213899 in 2014
- In December 2017, after three years from its launch, Dash coin experienced an all-time high, reaching the price of $1,493.59 but dropped subsequently.
- Over these three years, the Dash coin price registered an 80.6% growth rate.
- As of March 2021, the price of Dash has reached $280.
- Overall, the Dash coin price fluctuation reflects a 135411.7% growth in about 7 years (from 2014 to 2021).
Wallet investors from various crypto prediction sites believe that the price of DASH may witness another major blow in the coming years. The value may stoop down to $3.641 from its current market price, which is $280. On the other side of the crypto market, experts have analyzed the past trends of Dash coin, predicting it to reach $700 value within the next five years.
Based on its Growth So Far, Will Dash Coin Survive?
One Dash price prediction does not define the actual movement of Dash coins in the future. These forecasts change based on how the Dash protocol evolves. For instance, Dash Prices rose when individual chips were implemented at data centers. By the end of 2021, DASH is predicted to reach $350 value, based on the growth trends registered so far.
Judging a Dash Price Prediction
The certainty of Dash price prediction depends on several factors. However, there is a certain trend that determines how DASH grows in the coming years. And that is Hardware upgrades. Upgrades are key factors influencing price. Experts believe that this market trend will drive Dash coin price to $2,822 by 2025-end. Click here to know more about complete dash price prediction from 2021 to 2025.
Is it the Right Time to Invest in Dash Coin?
Dash has been recovering in 2021, but nothing like before and has yet to revisit its all-time high like other cryptocurrencies. The price actions of most altcoins like Dash are affected by Bitcoin. So, when Bitcoin is having a good time, most likely, Dash will also go up. When Bitcoin is having a bad week or month, Dash prices usually go down even further. Dash offers an extra layer of functionality compared to Bitcoin. A long-term forecast in 2018 predicted that the price of DASH might fall by 70% by the end of 2023.
Dash is a unique protocol that demonstrates how blockchain technology guarantees the liberty and freedom of users in maintaining the privacy of their transactions. One should expect Dash to grow well in the market this year.