Whilst there are hundreds of different altcoins available to trade, Dash is one that gained in popularity rapidly. It has been operational since January 2014 and attracted a large volume of investors since the first moment, in contrast to the major altcoins which took considerable time to gain in popularity.
As with many altcoins 2017 was an exceptional year for Dash, as it witnessed strong growth. It managed to break into the $1 billion-dollar club, as its market cap pushed through this landmark level and by mid-April 2018, its market cap topped $3 billion.
Why is dash so popular?
There are several principal factors which drive investors into an altcoin trade. For example, some buy into a coin which they believe in, others jump in because they see it as a bit of fun or an experiment. Whatever the reasons investors usually chose a cryptocurrency that has a decent number of followers. This is one of Dash’s strong points. No matter what, the coin appears to have a strong base following, which is evidenced by the fact that Dash has charged well ahead of the other altcoins that were created at around the same time.
One of the reasons that Dash is so popular is because of its speed. Coins can be mined in one or two days and transaction times are exceptionally fast and very secure, one of the highlights of Dash. Nowadays slow transaction times is a big turn off. Transactions are instantaneous through InstaSend and cheap at just $0.60 compared to $30 for a Bitcoin transaction at its peak. Since then Dash’s transaction fees have fallen further to just $0.20.
Other advantages include liquidity, as Dash is available on a number of exchanges and Dash coins are accepted in all affiliate online stores adding to its popularity. Dash’s development team is opting towards mass adoption by engaging in partnership with various business organisations. By doing so the use of Dash will be increased as well as diversified. Mass adoption could help this altcoin push towards top spot, possibly even by the end of the year.
In addition to the aforementioned positives, trading Dash is much cheaper than Bitcoin. Dash is currently trading around $480, whilst Bitcoin is hovering around $9500. This is a considerable difference between the two.
Future of Dash
Whilst Bitcoin grabbed the imagination of traders and the media alike in 2017, in 2018 we are seeing the focus broadening towards alt coins, such as Dash. So far, this relatively new altcoin appears to be ticking all the right boxes for traders and investors alike. Dash rallied in 2017 and took a dive in early 2018, along with other at coins; however, it has been one of the coins seeing a faster recovery time year to date. Given its fast, cheap transaction time, quick mining potential and antonymous sending strategy Dash looks set to take on larger alt coins across the year. This is definitely one to watch as 2018 looks set to be a remarkable year for Dash.