One of the Bitcoin’s biggest pains in the side is without a doubt Dash—and it has more up its sleeve (much to the dismay of Bitcoin surely).
The rising in popularity alternative to Bitcoin has been added to cryptocurrency derivatives trading platform BitMEX as a result of its recent software updates and 24 hour trading volumes.
BitMEX put Dash on its exchange this month immediately following the launch of its software upgrade Sentinel, as well as the large increase in Dash’s liquidity and overall market capitalization.
As of January 2nd, Dash’s market capitalization has risen 70 percent, reaching its highest ever market cap of $120 million. In addition, 24 hour trading volumes are at an all-time high, averaging over $2 million worth of Dash bought and sold each day. This makes Dash number six on the most traded cryptocurrencies globally.
Dash Business Development Spokesman Matthew Meek said, “After observing the volumes traded on BitMEX for sometime, it was obvious that BitMEX is consistently ranking amongst the top in USD/BTC volume on a daily basis. We felt that having Dash as an offering for BitMEX’s users was an obvious choice and one that would also provide Dash with its first derivative based market, which we are excited about.”
BitMEX CEO Arthur Hayes said, “BitMEX aims to be the largest venue for the trading of any and all digital currency derivatives. As such, Dash belongs in our product offering. BitMEX believes financial privacy is valuable to the cryptocurrency exchange space. The first digital currency that can offer real electronic untraceable cash will be very successful. The Dash team is on the right path towards accomplishing this feat.”