What’s Going On With Dash (DASH)? – June 2018
For Dash (DASH), as it is for most other coins, the bears are still hovering around the market though indications are the weekend may see some change.
As such, most crypto assets continue to trade in the red, many within double digits of over 20 percent for the week.
Encouraging, however, is the fact that cryptocurrencies may see a turn towards sustained price upturns and positive movements into the green zone as sentiment begins to head north.
Dash (DASH) has had a beating, but could it be one of the altcoins on the cusp of a major break above current prices?
Dash (DASH) price woes
Whereas it’s not in doubt that most coins have had rough 2018, it’s been even tougher for DASH. The coin’s price literally dropped into the abyss year-to-date.
It’s been even tougher as regulatory concerns combined with the general market decline to hand DASH coins a beating.
It’s not out of place in cryptocurrency, but losing value by nearly 300 percent is quite astonishing by all standards. At the turn of the year, the coin traded well above the $1k level, reaching a high of $1,394.28.
However, it now stands at about $257 to the US dollar. Its value has dropped by 76% over 6months and 37 percent in 30 days.
With such price drops, concerned investors would be right to want to know what’s going on with Dash.
What’s going on?
In short, it’s a lot. Dash was just replaced in the market cap ranking by Tether, dropping to 13th. In terms of price movements, it could be down to the issues highlighted above and such.
In a year of ups and downs, the crypto has had both negative and positive growth. Prices and development delays form part of the negative, while relentless adoption makes up for definite positive growth.
According to the crypto’s own aptly named biweekly “What’s going on with Dash?” the team is trying to accomplish a number of things.
Under their business development segment, the team is looking to have about 9 integrations and could be announcing two new partners in the next week or so.
In a recent Q&A, the CEO of Dash Core Group Ryan Taylor is quoted to have said that:
“There are hundreds of physical stores and over 500 websites that accept Dash, and hundreds of thousands of other merchants that accept it through Dash-enabled debit cards.”
However, one thing that has come out is that there are a lot of delays. Of special attention is the delayed release of an updated roadmap and lack of movement towards delivering Evolution.
A member of the Dash core team, Alexander Chopmann, owns up but thinks they are on track. He recently replied to community concerns and said:
“We aren’t there yet, but we do think we are improving, getting there, and we will deliver Evolution.”
Positively too, Dash has emerged as the preferred coin in the cannabis industry following Senate laws in California, a potential market for growth.
The coin has also topped as the most accepted form of payment in Venezuela, giving it more impetus for further growth.
It also partnered with Rewards.com in an initiative that will see users earn rewards in DASH coins.
Will Dash (DASH) prices rise?
After the news from places like New York, California, and Venezuela, Dash appears set to make a dash (no pun intended) the moment bears leave town. It could be time the privacy coin regained lost ground and returned investor confidence.
The anticipated price correction should see the coin break above its immediate supporting base of $260 to move towards two short-term resistance levels at $280 and $300. The latter, however, may present a key resistance if the current market conditions prevail.
DASH is testing the green zones in the hour-to-hour charts and could be out of the red zone in the Asian trading hours.
Though uncertainty will linger, growth over coming weeks is much possible with all the good news hitting this crypto. We should, therefore, see prices rising above the current range, above the $260 level.
If positivity sustains throughout the weekend, the coin could see growth towards that major resistance level.
However, much will be dependent on what sentiment prevails in the entire market. if the leading coin Bitcoin (BTC) does put on a fight, DASH could well be a big hitter.