Dash (DASH), whose previous name was “Darkcoin,” is currently the 9th most valuable cryptocurrency. At $996.86 per coin, this digital currency is worth more than Monero (XMR). It’s also more valuable than NEO (NEO).
Dash is very similar to Bitcoin (BTC) when it comes to the essentials. They are both used to transfer funds quickly, without the need of financial institutions as middlemen. They are both investment vehicles. They have also both ballooned in value over the past year. Obviously, bitcoin is the most successful of the two – but Dash has a lot of potential.
It may even climb higher than its current 9th-place spot. But this week hasn’t been very indicative of an upcoming surge. In the last 24 hours, it has sunk by nearly 11 percent in value. Compared to a week ago, it’s down by about 22 percent.
It is only up by 30 percent from a month ago. For the most part, it has been floating between the $1,000 mark and the $1,200 mark. Around the 20th of December, it managed to surpass $1,500 for a brief period.
Is there hope for Dash (DASH) to skyrocket once again?
While things have been a little depressing for this cryptocurrency – especially its investors – during the last couple weeks, let’s put it into perspective.
We can’t forget that Dash was trading around the $200 mark at the beginning of November. In the past year, this cryptocurrency has appreciated by nearly 9,000 percent!
Perhaps it was just too much growth too soon. Maybe a pullback is a natural market occurrence. Most importantly, maybe Dash is about to rally again – and soar over $1,500 for another few days.
We are certainly keeping our eyes on this high-potential altcoin this week
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.