Dash is a cryptocurrency with a mission: to be widely used and adopted. And in a week where other coins struggled, Dash was making robust gains
Dash displaced Litecoin based on market capitalization, reaching position five on CoinMarketCap after climbing above $350. During a tense week when other leading cryptocurrencies were seeking direction, DASH pushed upward from the recent lows, and rose by more than 41% in the past seven days on increasing volumes.
The coin slid a bit on Friday, down to $345.49 at the time of writing.
In September, the Dash team picked up their PR efforts, culminating in a conference in London in the coming weekend, among other events. Keynote speakers include the Dash CEO Ryan Taylor, among other cryptocurrency opinion leaders.
In the past weeks, Dash sent out updates on its Copay wallet that is entering the next testing stage. Usage fees were also lowered by 10% in the middle of the month.
Dash is one of the few cryptocurrency projects with a paid developer team and bounties for marketers, so it is one of the most promoted coins- and for now, the promotion is successful. Dash also advertises itself as the currency accepted on Amazon, although it is only possible to buy Amazon gift cards with Dash, and then redeem them in the electronic store.
For now, Dash still struggles to be added to Coinbase, although it is more easily available for European buyers. Buying Dash with fiat is relatively easy in Europe through Kraken, BitPanda, LiteBit.Eu and other local exchanges. Easy availability has helped Dash position itself as a “ramp currency” right next to Bitcoin, Litecoin, and Ethereum. Recently, Dash was added to London-based exchange CEX.IO.
But the Dash project has its own set of criticisms. Some users dislike the presence of Master Nodes, where holders of at least 1,000 DASH can stake their coins and receive rewards for verifying transactions. And the other criticism is related to the fact that a lot of DASH coins are locked up. With only around 7.5 million DASH in circulation, the market price is more easily manipulated.