• Dash price has gained 52% in the first month of 2021, despite bearish pressure.
• It began the month with a breakout past a critical level but quickly lost ground to bears.
• DASH is currently trading at $61.84 and recording a live market cap of $685.7 million, making it #67 on CoinMarketCap.
Introduction
DASH, like many other tokens in the crypto market, started the year with a bullish sentiment that inspired hope among investors. The token rose 52% in the first month, despite efforts by bears to keep it stunted at $53. With this record of accomplishment, the DASH price regained all the ground lost between May and November when it started dipping following a painful year of downtrends and scandals.
Dash Price Performance
Nevertheless, the ground looks shaky for the open-source blockchain token in the first week of February as bears are delivering a good fight that has limited investor profits thus far. The token started the month with a breakout past a critical level, but the move was premature as bears quickly took over on February 2 and delivered the DASH price to the $59.26 support level where it currently sits. At the time of writing, DASH price was auctioning for $61.84 after losing 0.91% on the last day. The token was up 48% in trading volume in the last 24 hours to $120.3 million and recorded a live market cap of $685.7 million, bringing it to #67 on CoinMarketCap .
Bitcoin Lead Impact On Dash Price
As a result of Bitcoin’s lead starting January 1st , most altcoins have quickly caught on, bringing total crypto market cap above $1 trillion 06th February 2023 for first time since September 2022 . Total Cryptocurrency Market Cap As scalable alternative to Bitcoin , Dash was forked from king crypto 2014 with two tiered structure helps enhance transaction speed privacy . The Dash network has two layers , TIER 1 TIER 2 . First layer constitutes peer-to-peer ( P2P ) network miners who add new blocks network . Contrast , second layer features master nodes full network nodes serving execute anonymous instant transactions . TIER 2 also works decentralized budgeting management feature based Proof Service principle .
Transaction Volume And Bullish Sentiment
The DASH coin has witnessed massive surge transaction volume , suggesting buyers taking long positions expect more gains . Resultantly , DASH prices soared BTC lead inspiring hope among investors looking profit from current situation .
Conclusion
With its current performance , investors are optimistic aboutDash’s future trajectory will continue going up if present trend continues follow suit – leading record high prices range high within foreseeable future
