Why is Dash (DASH) crypto trending?

2 min read | January 08, 2022 08:18 AM AEDT | By Rupam Roy

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Why is Dash (DASH) crypto trending? — Image source: Marc Bruxelle,Shutterstock

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Highlights

Dash (DASH) crypto price was up over 4% on Friday.

Its trading volume was up over 5% in the last 24 hours to Friday morning.

DASH coin gave over 32% return in the past 12 months.

The Dash (DASH) crypto was gaining traction on Friday, with the price rising over 4% and the trading volume by more than 5% in the last 24 hours to Friday morning.

What is Dash (DASH)?

Dash is an opensource blockchain that provides a fast and cheaper decentralized network for global payments. As per the project whitepaper, it aims to offer secured, faster transactions.

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The name of Dash came from "digital cash". It was launched in January 2014 as a branch of Litecoin (LTC).

After going live, it added more features like a two-tier network with incentivized nodes, such as masternodes and decentralized project governance, InstaSend, ChainLocks, and PrivateSend.

InstaSend enables instant settlement of payments, while ChainLocks aid the Dash blockchain immutable instantly. PrivateSend provides additional transaction privacy.

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Software developers Evan Duffield and Kyle Hagan co-founded Dash.

It was initially known as Xcoin. But it changed its name to Darkcoin just two weeks before rebranding again to Dash in March 2015.

The maximum supply of Dash is 18,921,005. It can be purchased on exchanges like Binance, Coinbase Pro, Kraken, etc.

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Pricing and other details of Dash (DASH) coin

The DASH coin was priced at US$127.61 at 10:27 am ET on January 7, up 4.77%. It has a market cap of US$1.34 billion, and its fully diluted market cap is US$2.41 billion.

The coin's last 24-hour trading volume through Friday evening was US$276.47 million, representing an increase of 5.26%.

The coin saw the highest price of US$476.85 and the lowest price of US$92.63 in the last 52 weeks. It reached an all-time high of US$1,642.22 on December 20, 2017.

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Bottomline

The DASH coin has caught investors' attention lately. Its price jumped by 32.55% over the past year. Investors, however, should carefully evaluate cryptocurrencies and the broader market before spending on digital assets.

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