Wednesday, February 8, 2023

DASH Is a Green Boat Floating on a Sea of Red Today

DASH Is a Green Boat Floating on a Sea of Red Today

It’s been another day of potential marital difficulties for crypto investors, with most asset prices chomping into the kids’ college funds. But above a sea more red than a Japanese dolphin festival, DASH is floating with a 1.88 percent gain over the past 24 hours.

Also read: BitPay Adds Bitcoin Cash to Its Insight Block Explorer

It was a day Bitcoin dropped 4.09 percent, Ethereum 5 percent and Bitcoin Cash 8.83 percent. That’s not quite the carnage of 13-15th September, but still disappointing. All the various coin fans could do was console each other, rather than brag about their chosen asset’s resilience.

Except DASH, that is. One unit is currently worth $352 USD, according to CoinMarketCap at press time. DASH has dipped since hitting almost $400 in August 2017, but has been mostly gaining ever since mid-September.

DASH price gain
chart via CoinMarketCap

There are a few possible reasons for this. The big one is Bitmain’s new Antminer D3 mining machines, which are beginning to find their way into buyers’ hands. Bitsonline reviewed the unit two weeks ago and found it to be a pretty solid performer. High prices for several altcoins in 2017 have made previously ASIC-resistant mining algorithm assets suddenly profitable to mine this way.

DASH Community Does PR Well

DASH may also have got a boost from presenters at the recent BitKan-hosted conference in Hong Kong, who touted its privacy benefits. With price rises has come extra government scrutiny of cryptocurrency investing — which in turn has drawn more attention to assets designed to avoid just that.

Rivals Moneo and Zcash make similar privacy claims, though DASH’s fanbase has generally been better at getting the headlines. Privacy alone is probably not the reason for DASH’s lone rise today. Its community recently raised funds to sponsor a DASH-branded bus trip across American by Max Keiser and Stephen Baldwin, which will become a TV series.

There was also some concern that China was starting to restrict mining operations along with exchanges, leading to concern even within the industry. Despite a few isolated incidents and rumors, though, it appears that’s not happening… yet.

Do you trade DASH? What’s your take on the price movements? Let us know in the comments.

Images via Pixabay, CoinMarketCap

Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency and tech news updates:

Bitsonline Email Newsletter