A view on DASH with multiple trading pairs analysis
I had taken a closer look at DASH and wanted to give a more concise picture if DASH is about to break and become irrelevant (in terms of value) or if this long downward trend may find an end soon.
Looking at just DASHUSD gives for example the impression that DASH broke out of the downward trend and now is seeking to find support on the downward trend to then potentially rise again.
If you look however on the DASHEUR chart DASH is well trapped inside the , however also potentially finding support in the bottom to then potentially break out above.
So let’s add DASHBTC. A very grim view with DASH in a downward trend since March 2019 desperately seeking support on the very bottom to then rise from the ashes.
All three trading pairs next to each other give a more concise view on Dash and where it’s heading.
Dash now only roughly on spot 28 in terms of market cap is clearly struggling in terms of finding it’s value in the market.
With huge merchant distribution in south america it does have it’s value proposition as digital cash.
DASH just may be a good investment opportunity at a big rebate right now.
However with potential regulation from central banks or implementation of wallets or national crypto currencies there is also risks involved like it is within the overall crypto market.
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According to the DASH financial report for Q1 2020, commercial transactions using Dash for the first quarter increased by 104%. During the first quarter of 2020, the number of active Dash wallets installed on mobile devices has reached 101,747, which is 214% more in comparison with the same period last year and 21% more than in the previous quarter. The growth is resulted by several partnerships in Latin America, especially Venezuela and Brazil. In Brazil, more than 2.5 million merchants can now use Dash as means of payment with solutions such as ATAR Pay.
In addition, Dash showed a nearly 60% price increase, thus showing the best quarterly growth since the fourth quarter of 2017. The average daily trading on exchanges showed the largest increase, reaching $37 mln, which is an increase of 987% in comparison with the previous quarter and an increase of 686% annually.