Whilst seen as a relative newcomer to the altcoin scene, Dash has actually been around for a while – it’s just undergone a couple of facelifts over the last four years.
Originally released in January of 2014 as Xcoin (XCO), it swiftly changed its name to the more familiar Darkcoin, a moniker under which it traded for just over a year, rebranding as Dash in March of 2015. The developers chose to abandon the Darkcoin branding as they felt it held negative connotations and associations with things like the Dark Web for new investors. Dash itself, as well as suggesting the speed which is part of its appeal, is actually a portmanteau word, being formed from the phrase “Digital Cash”.
Dash performed well in 2017, as most digital currencies did, buoyed up on the media interest in the ballooning value of Bitcoin. However, aside from the massive spike it experienced in December as the market hit its then-peak, the rise in Dash’s fortunes has been rather sedate: a slow, steady climb from around $11 per coin at the start of 2017 to over $1100 per coin at the end. Of course, with the natural slump that followed, that figure has already dropped to just over $600 per coin at time of writing, and pundits predict it still has a way to go before it recovers, with some suggesting it will level out at around $400 before gaining ground again.
However, given Dash’s past performance, as well as its unique model for sustaining growth (in essence, the currency runs a two-tier system of checks on its blockchain – a manual method, much like traditional mining, for verifying transactions generating new Dashcoins; and an automatic system that users have to invest into that verifies instant and private transactions), it seems likely to not only attain its year-end high by the time Christmas comes around again, but to actually surpass it, peaking closer to $1750 per coin at the end of 2018.
Picking the right moment to invest will be key to maximising your returns, but don’t leave it too late, as it looks like the bounce back could take place any time soon.
Original Image Source: Pixabay