Friday, December 9, 2022

Dash Still Popular With Traders as Kraken Announces Support

Dash Still Popular With Traders as Kraken Announces Support

Don’t look now, but exchanges around the world are quickly adopting Dash, with a triad of them publicly stating support in the last two weeks. Most recently, as of April 12th 2017, Dash (DASH) will be available to trade on the major cryptocurrency and digital assets exchange Kraken.

Also read: ‘Big Block’ Patent Firm nChain Acquired by Equity Fund, Possible Connections to Craig Wright

Kraken Partners with Dash

The fifth largest cryptocurrency by market cap is now trading on another major exchange. According to Kraken’s official blog, the trading platform will offer Dash with three buy and sell pairings: DASH/EUR, DASH/USD, and DASH/BTC.

Dash VP of Business Development Daniel Diaz commented on the situation, saying Kraken was excited to add Dash and offer it to their customers. Additionally, they’re working to make the crypto available as soon as possible so their clients can begin trading immediately.

Diaz went on to say that “Kraken is an incredibly well established and well-structured organization, and amongst the best in the exchange business. In terms of reputation, they represent the highest standard for client satisfaction. Dash is a project that has implemented very original ideas that resonate well with the market, and as a top tier exchange, Kraken’s mission is to provide clients with access to digital currencies that are in demand and provide value.”

He added that Kraken has high expectations for the partnership going forward:

“As the leading exchange in the Euro market, Kraken’s global reach helps Dash successfully meet the needs of our users and investors. The entire integration experience was very positive and we have high expectations for the partnership going forward. This is a significant achievement for Dash because our ecosystem needs high quality and trustworthy exchanges like Kraken to thrive, and we know they will play an important role as a fiat gateway.”

Price Has Faded, but Support Continues Anyway

Dash continues to make headlines as it steadily grows in popularity. It was recently the beneficiary of a price surge that briefly made it the third largest cryptocurrency in the world. Its price rose from around $11 at the beginning of the year to over $100 by late March.

However the hype surrounding the crypto has since cooled, dropping it to fifth place by market capitalization. The price initially began to fall from its peak in late March and eventually falling to around $60, before settling between $60 and $70.

In any event, the cryptocurrency has seen some of the strongest and most consistent support among cryptocurrencies since its price rise.

In fact, a couple of weeks before Kraken announced its support, another exchange — BitPanda — made the decision to add the crypto as an option to trade on its platform.

According to BitPanda CEO Eric Demuth, BitPanda pulled the trigger on Dash due to its stable support and continuous development:

“Recently we observed a significant increase in demand within our customer base for Dash. We carefully observe the market before we add a new technology to our platform. Continuous development, as well as a stable community, are important parameters for us. Therefore we have decided to add Dash on”

Other exchanges have also added Dash to their listings, such as: Bitfinex,  BTC-E, and Russian exchange platform MaRSe.

So, while Dash’s time in the limelight may be over, for now, it has continued to develop and grow. In the crypto world sharp volatility is to be expected because the markets are still relatively small — thus even small movements can have huge effects on the Dash price.

The crypto’s price surge created a speculative bubble that ultimately burst, but even after the dust cleared it was still trading over $60. This seems to signal a real and natural demand for the currency.

What do you think of Kraken’s decision to support Dash? Let’s hear your thoughts.

Images courtesy of Kraken, Dash, and Youtube

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