#Dash is currently trading at approximately $40 USD per token following a huge 30% retrace yesterday. Traders are regarding the move as healthy correction following the enormous gains that Dash has made in recent months.
The price of Dash had tripled in two weeks
During the daily trading high of $59 March 2nd Dash’s #price had tripled when compared to prices from just 2 weeks ago, and increased by 650% when compared to December’s prices.
Many have cited Dash’s release and success of ‘Sentinel’ as the principal catalyst for the cryptocurrency's recent meteoric rise. ‘Sentinel’ is a highly anticipated software update which serves as a precursor to Dash’s upcoming decentralized payment network ‘Evolution’, which has planned release date of late 2017. Other significant fundamental achievements have contributed to the price rise, with TREZOR and KeepKey announcing Dash compatibility for their hardware wallet products, and Dash’s team relocating to a new headquarters at Arizona State University.
Many altcoins are currently showing strength
Dash hasn’t been the only altcoin to make significant gains lately. Ethereum has gained in value by 50% over the course of the last week, with news that Microsoft would be utilizing Ethereum's protocol triggering hype, excitement, and FOMO (fear of missing out).
ZCash appears to be finally showing signs of a strong reversal pattern after making gains of 40% over the course of the last week - with ZEC tokens currently testing $40 each. The innovative new altcoin offers extremely privacy protection to its users by utilizing Zero-Knowledge Proof Protocol, but markets have performed poorly whilst supply for ZEC tokens expands following a genesis-block release.
Auger has also gained over 35% in four days, with REP tokens currently trading for approximately $5.80 following a sharp 10% correction overnight. Auger boasts an innovative platform built on top of Ethereum smart-contracts that facilitates the creation of decentralized predictive betting markets. Although the platform does not host any predictive markets at present, traders have been enticed by the low market cap of Auger - for which the maximum supply is 11 million tokens.
#Bitcoin is also continuing to establish new all-time highs, with yesterday showing a strong rally over 10%.