{"id":15150,"date":"2017-12-04T00:00:00","date_gmt":"2017-12-03T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2017\/12\/04\/dash-is-forging-its-own-path-says-analyst\/"},"modified":"2021-09-18T11:38:53","modified_gmt":"2021-09-18T11:38:53","slug":"ownpath","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/ownpath\/","title":{"rendered":"DASH is Forging its own Path Says Analyst"},"content":{"rendered":"

DASH is Forging its own Path Says Analyst<\/h1>\n

December 3, 2017\u00a0by\u00a0Jon Southurst<\/a>\u00a03 Comments<\/a><\/p>\n

Something unusual happened in the cryptocurrency market caps last week. On those few days of carnage when nearly every top 50 asset on CoinMarketCap turned red, DASH posted double-figure gains. How did a single asset manage to decouple from the rest in such a stark way?\u00a0Investing.com<\/a>\u2019s Tanzeel Akhtar says it\u2019s a combination of good timing and DASH\u2019s promotion strategy.<\/p>\n

Also read:\u00a0UK to Tighten Bitcoin Trading Regulation, Prices Drop<\/a><\/em><\/p>\n

Join the\u00a0Bitsonline Telegram channel<\/a>\u00a0to get the latest Bitcoin, cryptocurrency, and tech news updates:\u00a0https:\/\/t.me\/bitsonline<\/a><\/em><\/p>\n

DASH\u2019s Marketing and Deals<\/h2>\n

Since the beginning of November 2017, DASH has gone from around $270 USD to its current $764. Per unit, it\u2019s the most valuable non-bitcoin-derived digital asset.<\/p>\n

\"Dash<\/p>\n

KuvaCash logo<\/p>\n

We\u2019ve\u00a0reported previously<\/a>\u00a0that the \u201cprivacy coin\u201d sometimes heads in the opposite direction while other coins go south. But even those disparities were smaller than the ones we saw last week.<\/p>\n

Akhtar\u00a0pointed to<\/a>\u00a0DASH\u2019s recent\u00a0deal with KuvaCash<\/a>, a remittance and money exchange service that\u2019s moving into countries like Zimbabwe. DASH is now its official blockchain medium of exchange.<\/p>\n

Despite the hype, cryptocurrency use is pretty nascent in that region \u2014 but DASH may be fortuitous in its timing, promoting itself at a time of political turmoil.<\/p>\n

The joint push with KuvaCash cost DASH $550,000 USD, one of its most expensive ventures yet. But that\u2019s another unique point: unlike other cryptocurrency projects, it has a governance model with its own treasury.<\/p>\n

This allows DASH to make partnerships and do sponsorship deals where others simply don\u2019t have the resources. Whether you like the model or not, it\u2019s the attribute getting the most attention outside the community.<\/p>\n

Attention Increases Price Increases Attention<\/h2>\n

Those deals have pricked up the ears of mainstream reporters, Akhtar said. Most non-bitcoin assets barely get a mention outside the industry media, and mainstream name recognition of most altcoins is an asterisk.<\/p>\n

The $700+ price tag probably doesn\u2019t hurt either \u2014 thus begins the circular process of high price begetting attention, which raises the price, etc.<\/p>\n

Most of the action is happening on the wild trading party that is Korea\u2019s Bithumb, too. Whatever its technical and administrative shortcomings, Bithumb is where the big moves are happening in late 2017 and DASH is in its top 10 \u2014 trading over $20 million USD in the past 24 hours.<\/p>\n

For the record, over $23.4 million in DASH traded at Binance as well. Asian traders, or at least traders on Asian exchanges, see it as a hot commodity.<\/p>\n

Traders, Users Just Looking for Something New?<\/h2>\n

Akhtar\u2019s last point is also one we\u2019ve suspected \u2014 cryptocurrency speculators are tiring of Bitcoin\u2019s squabbles and technical limitations. The main protocol software recently upgraded to version 12.2, increasing the transaction block size to 2MB and reducing transaction fees 10 times. But could it survive Bitcoin-like traffic loads?<\/p>\n

\"DashDASH\u2019s faster speeds, respectable price and now prominence may be boosting its appeal as an alternative cryptocurrency. Interestingly though, its origins as Darkcoin and a privacy-oriented cryptocoin often don\u2019t get a mention these days. Akhtar\u2019s article only touches on it briefly, and doesn\u2019t tout it as a main drawcard.<\/p>\n

Could it be that traders, investors and even users are simply looking for something new? And when they do, DASH is the first logo they see.<\/p>\n","protected":false},"excerpt":{"rendered":"

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