Dash has crossed the $1,000 price point, realizing over hundredfold gains this past year.
Over the weekend, the price of Dash experienced a sharp rise, going from $908 on Saturday to an all-time high of $1,178 on Sunday, now at a present valuation of $1,092. This represents gains of over 100 times over the past year. January 1st Dash was valued at $11.39, and one year ago today it was valued at $9.76.
Dash is the second cryptocurrency to go from $1 to $1,000
Most notable of this achievement is Dash’s place as only the second cryptocurrency after Bitcoin to rise from a $1 valuation to exceed $1,000. Bitcoin first achieved this milestone less than a year ago in January, nearly eight years after its inception. Dash was originally valued at sub-dollar levels after its inception in early 2014, reaching the four-figure level in under four years.
While other cryptocurrencies have also claimed a similar price achievement, this was achieved under different circumstances. Zcash famously started trading at $4,293 when the first few coins were mined. Within a couple months, however, the price had dropped below $50, and since has been on a steady rise to present valuation of $544. Bitcoin Cash passed the $1,000 mark in November and presently maintains a valuation of $1,908, however this was not up from a price of zero, but rather a starting price of $555 after splitting from the original Bitcoin chain.
A fast-paced 2018 in store for Dash?
The next year promises to be an active year for Dash. At present, 556 Dash-accepting businesses are listed on DiscoverDash, as the community gears up for much wider merchant outreach in the new year. Key to the success of this outreach will be merchant solutions available for easy acceptance of Dash, of which Alt Thirty Six may be the foremost project, on track for wide release in the new year. At present, Dash’s monthly treasury for development, adoption, marketing, and whatever else the ecosystem requires, is over $7.2 million, thanks to the sharp increase in Dash’s valuation. Finally, the initial stages of the Evolution platform are set for release next summer, allowing Dash to reach a much wider audience by providing a seamless and user-friendly interface at the protocol level.
What I am wonder is what precipitated this pretty sharp increase in such a short time. I know it can be hard to determine given the massive nature of the exchange markets, but that is a pretty noticeable jump. One would think a particular event may have caused it. Maybe cause by increased knowledge and awareness in the Venezuela and Zimbabwe? I am happy for the increased used, value and attention it is getting and the resultant increase in value, but there are times I wonder what causes a particular jump.
The short-term runup early this year probably had something to do with people abandoning Bitcoin for alternatives. The second half of this year I would say were network effects from Dash’s ecosystem growing. Next year’s surge will likely be completely divorced from the rest of the crypto field… but then again, that’s only speculation right now.