Dash has once again approached all-time highs, riding a wave of cryptocurrency growth as Bitcoin’s relative position of dominance lessens.
Over the last week, Dash’s value has gone up from about $71 to about $93 presently, representing a market cap growth from a little over $500 million to about $680 million. Most of this growth happened over the last day alone, rising from $78 per coin to nearly $100 before settling at present value.
2017’s cryptocurrency surge
This surge represents a new high point for cryptocurrency as a whole. Its combined market cap has grown significantly this year, up to $35 billion from $15 billion in January. Non-Bitcoin coins in particular have risen from about $2 billion to $13 billion this year, almost $4 billion of that growth over the last week.
ShapeShift CEO Erik Voorhees tweeted about the growth, predicting a tenfold increase in digital tokens’ collective value over the next half-decade:
— Erik Voorhees (@ErikVoorhees) April 24, 2017
Bitcoin at its lowest percentage of market cap
During this recent growth spurt across the entire field of cryptocurrency, one of the smallest winners has been the industry leader, Bitcoin. Over the past week, Bitcoin has risen from a price of about $1,200 to an all-time high of about $1,330, coming to the end of the month with an impressive market cap of over $21 billion. However, the remaining combined cryptocurrencies have risen by an even greater amount. This has led to Bitcoin’s share of cryptocurrency’s total value to slip to an all-time low of 61%, down from 86% just two months ago. Bitcoin’s days of complete dominance over its field may soon be over.