Bitcoin’s (BTC) value has recovered over the last week, gaining over 15% and was trading at $42,762, at the time of writing (7 February), according to CoinMarketCap. Similarly, dash (DASH) was up around 23%, trading at $110.78, with a market capitalisation of $1.1bn. But, DASH has fallen this year – on 1 January it was trading at $137.95.
In 2021, Dash introduced several upgrades to its platform, including the launch of v0.20 on testnet. This came with several new features, including advanced cryptographic security, which the brand claims make the platform more secure.
How will the latest news affect DASH coin price action in the coming days? Let’s take a look at the project’s fundamentals and developments to get a clearer view of a plausible dash crypto price prediction.
Table of Contents
What is Dash Crypto and How Does it Work?
Dash is a blockchain-based peer-to-peer payment transfer protocol launched by Evan Duffield in 2014 as a fungible and secure digital currency to enable quick online payments.
Dash coins are minted through proof-of-work (PoW) mining, a very energy-intensive mechanism. However, Dash employs the X11 hashing algorithm to save power and guarantee an efficient allocation of dash throughout the ecosystem. Unlike bitcoin, which is based on a single algorithm, X11 uses eleven cryptographic techniques designed to protect the network against any potential vulnerabilities in one or more hash functions.
Dash coin has several similarities to bitcoin (BTC). Dash is completely decentralised and secured through cryptography. During the first several years of development, the dash coin team concentrated on making this a viable alternative to standard payment methods.
According to the project’s documentation: “Dash aims to be the most user-friendly and scalable payments system in the world.”
As a result, dash processed over 29,000 transactions a day in Q2 of 2021, with payment volumes totalling $6.48bn. It had over 90,000 daily active users.
The most common Dash feature is InstantSend, which uses masternodes that allow for the instant confirmation of transactions. While cryptocurrency transactions could take from 15 minutes to an hour before final confirmation, masternodes work on verifying the authenticity of the funds instantly.
Dash also ensures private transactions through its CoinJoin function. It operates a self-governing and self-funding model to pay individuals and businesses for work that adds value to the network. According to the documentation: “This decentralised governance and budgeting system makes it one of the first ever successful decentralised autonomous organisations (DAO).”
Dash Crypto News and Price Drivers
The project has undergone a number of significant milestones and developments, which may drive the dash coin value.
Valkyrie announced the Valkyrie Dash Trust
In August 2021, Valkyrie announced its investment in Dash, the Dash network’s native coin. The Valkyrie Dash Trust was created to improve investors’ exposure to cryptocurrency.
“Dash is a well-known, respected name in the payments space in many areas of the world, and has an engaged, loyal following. One of our goals at Valkyrie is to enable those underserved by traditional financial firms to have access to financial services, and expanding investment into the Dash ecosystem is part of that mission,” said Leah Wald, CEO at Valkyrie Investment.
In November 2021, the company added the staking option to the Valkyrie Dash Trust (VDASH).
“VDASH will provide individuals and institutions with an opportunity to stake Dash [sic] in exchange for rewards from the network. VDASH offers a 2.5% to 4% return on investment,” stated the press release
Bitcoin’s (BTC) value has recovered over the last week, gaining over 15% and was trading at $42,762, at the time of writing (7 February), according to CoinMarketCap. Similarly, dash (DASH) was up around 23%, trading at $110.78, with a market capitalisation of $1.1bn. But, DASH has fallen this year – on 1 January it was trading at $137.95.
In 2021, Dash introduced several upgrades to its platform, including the launch of v0.20 on testnet. This came with several new features, including advanced cryptographic security, which the brand claims make the platform more secure.
How will the latest news affect DASH coin price action in the coming days? Let’s take a look at the project’s fundamentals and developments to get a clearer view of a plausible dash crypto price prediction.
What is Dash Crypto and How Does It Work?
Dash is a blockchain-based peer-to-peer payment transfer protocol launched by Evan Duffield in 2014 as a fungible and secure digital currency to enable quick online payments.
Dash coins are minted through proof-of-work (PoW) mining, a very energy-intensive mechanism. However, Dash employs the X11 hashing algorithm to save power and guarantee an efficient allocation of dash throughout the ecosystem. Unlike bitcoin, which is based on a single algorithm, X11 uses eleven cryptographic techniques designed to protect the network against any potential vulnerabilities in one or more hash functions.
Dash coin has several similarities to bitcoin (BTC). Dash is completely decentralised and secured through cryptography. During the first several years of development, the dash coin team concentrated on making this a viable alternative to standard payment methods.
According to the project’s documentation: “Dash aims to be the most user-friendly and scalable payments system in the world.”
As a result, dash processed over 29,000 transactions a day in Q2 of 2021, with payment volumes totalling $6.48bn. It had over 90,000 daily active users.
The most common Dash feature is InstantSend, which uses masternodes that allow for the instant confirmation of transactions. While cryptocurrency transactions could take from 15 minutes to an hour before final confirmation, masternodes work on verifying the authenticity of the funds instantly.
Dash also ensures private transactions through its CoinJoin function. It operates a self-governing and self-funding model to pay individuals and businesses for work that adds value to the network. According to the documentation: “This decentralised governance and budgeting system makes it one of the first ever successful decentralised autonomous organisations (DAO).”
Dash Crypto News and Price Drivers
The project has undergone a number of significant milestones and developments, which may drive the dash coin value.
Valkyrie announced the Valkyrie Dash Trust
In August 2021, Valkyrie announced its investment in Dash, the Dash network’s native coin. The Valkyrie Dash Trust was created to improve investors’ exposure to cryptocurrency.
“Dash is a well-known, respected name in the payments space in many areas of the world, and has an engaged, loyal following. One of our goals at Valkyrie is to enable those underserved by traditional financial firms to have access to financial services, and expanding investment into the Dash ecosystem is part of that mission,” said Leah Wald, CEO at Valkyrie Investment.
In November 2021, the company added the staking option to the Valkyrie Dash Trust (VDASH).
“VDASH will provide individuals and institutions an opportunity to stake Dash [sic] in exchange for rewards from the network. VDASH offers a 2.5% to 4% return on investment,” stated the press release.
Integration of Liquid’s Quick Exchange into Dash mobile wallet
Dash integrated Liquid’s Quick Exchange feature into its mobile wallet app in August 2021 to facilitate buying and swapping of cryptocurrencies quickly and efficiently.
This feature works with android devices, allowing users to buy dash directly with a VISA credit card. In addition, the Quick Exchange feature from Liquid enabled users to purchase and swap cryptocurrency in their national currency or use more than 50 fiat currencies available to view price quotes.
With Quick Exchange, Dash signalled the beginning of a series of phases for integrating Dash and Liquid. There’s a Swaps feature, where users can exchange one cryptocurrency for another in a mobile wallet. Another phase will let users transfer dash seamlessly between their wallet and Liquid account.
“It’s been great working with the Dash team on something truly great for the community. Liquid Quick Exchange offers best-in-class exchange rates with an industry-leading user experience. Combined with the high-quality Dash ecosystem and the app we have quite a formidable use case,” said Jered Masters, Head of Frontend and Quick Exchange Lead at Liquid.
Launch of dash coin on Kinesis
Kinesis users can now trade and carry out multiple transactions with Dash. The coin was incorporated into Kinesis’s trading ecosystem on 27 September 2021.
Kinesis is known for facilitating peer-to-peer transactions to trade gold and silver. At the time of the announcement, Kinesis users could trade across USD, EUR, and GBP for fiat pairs, and BTC, USDT, ETH, BCH, LTC and DASH for crypto pairs.
The launch of dash on Kinesis gave users more options on transacting through KAU and KAG, gold and silver-backed native tokens on Kinesis.
Release of v0.20 on testnet
As an upgrade to the existing platform, Dash Core Group announced the release of Dash Platform v0.20 on testnet in August 2021.
The significant changes in this platform consensus include validator set rotation, peer-to-peer layer optimisation and threshold signing. The update also introduces advanced cryptographic security to the platform to make it one of the first examples of a pBFT-based (practical Byzantine Fault Tolerance) consensus network.
DASH/USD Price Analysis
According to CoinMarketCap, dash has returned an ROI of 51,713%, as of 7 February. The oldest available price data shows that the price increased significantly between 2014 and 2017, surging by 7,035 % in three years, from $0.31 on 15 February 2014 to $22.12 on 22 February 2017.
The Dash coin had an extraordinary 2017, with the price moving to a high of $1,642.22 on 20 December 2017 – a gain of 7,324% in less than a year. It closed the year at $1,051.68, as of 31 December 2017, almost 40% below its all-time-high price.
In 2018, the price fell to $136.54 on 22 August and $59.69 on 14 December. It closed the year at $79.06.
Dash coin struggled in a bear market during 2019 and 2020, and its price never gained much traction. It closed 2020 at $99.61.
The coin gathered momentum in 2021, after a lengthy bear market. Its price increased to $325.25 on 19 February and spiked to $440.89 on 6 May. However, the coin fell to $119.16 on 22 June, a decline of over 73% from the May high. It closed the year at $134.01.
It made a 30-day-high of $155.27 on 11 January 2022. However, the price fell to a 30-day-low of $81.76 on 24 January 2022. At the time of writing (7 February), dash was trading at $110.78, down 93% from its all-time high of $1,642.22, achieved on 20 December 2017.
Dash coin price prediction: Targets for 2022, 2025 and 2030
According to CoinCodex’s dash technical analysis, short-term sentiment for the coin was bearish, with 15 indicators showing bullish signals and 17 bearish, as of 7 February 2022.
All the weekly simple moving averages (SMA) and exponential moving averages (EMA) gave ‘sell’ signals. The Williams percentage range and the stochastic RSI (Stoch RSI) were also bearish.
The volume-weighted moving averages (VWMA), Hull moving average (HMA), and average directional index (ADX) gave ‘buy’ signals. Meanwhile, the moving average convergence divergence (MACD) and relative strength index (RSI) were neutral.
The dash coin prediction from CoinCodex suggested the token price could rise by 0.14% to reach $111.39 by 12 February 2022.
Speculating on the dash coin future, algorithm-based forecasters shared bullish long-term projections as of 7 February:
According to Wallet Investor, the coin’s average price could reach $219.11 by the end of 2022 and surge to $368.42 by 2025. The five-year estimate for DASH/USD indicated that it could slightly decline to $356.86 in February 2027.
According to Digital Coin’s dash crypto forecast, the average price in 2022 could be $149.41, moving up to $179.59 in 2023, $241.41 in 2025 and $472.14 in 2029.
According to Price Prediction, the average price could reach $144.11 in 2022, $455.10 in 2025 and $2,780.40 in 2030.
When looking for dash coin predictions, bear in mind that analysts’ and algorithm-based targets can be wrong. These dash projections are based on fundamental and technical studies of past performance. Past performance is no guarantee of future results.
It’s essential to do your research and always remember your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. You should never invest money that you cannot afford to lose.