The price of Dash continues to rise and it has touched Rs. 116847.75 for a market capitalization that exceeds $12 billion. Dash price began its upward curve in this last spring and has touched a new high for the currency. Dash has more than doubled its value compared the last month. It has touched an all- time high of Rs.45000 last month.
Dash has benefitted heavily from numerous upgrades. The latest version of Dash Core was deployed just a few days before the surge in November and it has increased the Dash block size to 2 MB and since then several improvements have been added. This includes reduced transaction fees and efficient transactions.
A pilot program called KuvaCash was established by Dash in Zimbabwe, which has a strict policy of monetary policy. It was done to promote the adoption of Dash in Zimbabwe. Many residents have accepted the cryptocurrency as an escape hatch as they disappointed with their central bank’s bond notes that are inflationary.
Almost half of the volume of Dash is concentrated on Bithumb, South Korean exchange, which is also a major driver for altcoin demand. But the demand on that exchange is associated with pump and dump schemes.
With bitcoin’s index falling below 50 percent for the first time in recent months, Dash is one of the coins to post strong performance last week. After a long week, all the top 10 cryptocurrencies including Ethereum, Dash, Litecoin, Ripple, Cardano, EOS, NEM and IOTA recorded 10 percent gain daily, except bitcoin and bitcoin cash.
The growth in the value of most of the cryptocurrencies is because the institutional and hedge funds have entered the market along with the bitcoin futures. This has made investors to explore other cryptocurrencies and ultimately led to the gain.
However, others have reasoned that the altcoins have been successful because of scalability issues of bitcoin and failure by businesses in Segregated Witness integration. The Blockchain and Coinbase, which are the leading wallet platforms, and bitcoin transaction fee prediction platforms are recommending a transaction fee between $10 and $30 because of bitcoin state mempool, which is the holding area of unconfirmed transactions.
With its own scalability plan, Dash is focussed on – chain scaling. Evan Duffield, Founder of Dash has stated in a blog in Medium that several people believe that on- chain scaling is not possible but they tell this because they have not explored the alternative P2P architectures. Dash wants to show how far second tier architecture can take a project. At the beginning of the year, Dash had revealed its plans for mass adoption. Dash Evolution has been designed as a user- friendly currency platform that is also scalable for mass adoption. Dash wants to double the number of developers with each subsequent release as the user capacity is expected to increase with every development stage.