Dash, a cryptocurrency which currently takes 5th place among 10 top coins and has a market capitalisation of $3,3 billion, reached all-time high price of $521,55 at 0:19 UTC on November 13. Why did the coin show such an unexpected rise?
It seems like investors and traders are getting tired of the Bitcoin and Bitcoin Cash instability, and tend to turn their attention to other altcoins which seem more suitable. Judging by charts, it appears that they turn to Dash. The coin was hovering around the $289 mark on November 8, but has leapt almost %55 to $521 in the wake of the Bitcoin war.
What might have also lead to such a growth of coin price is that on November 8, cryptocurrency Dash has announced launch of a new software upgrade Dash Core 12.2 that aims at reducing its transaction fees to near zero. Moreover, it will double its network capacity. Regular Dash transactions will now cost less than a cent, and their InstantSend transactions will be reduced to 2.8 cents each, which is 215 times cheaper than Bitcoin transactions, which have a cost of about $6. On November 11, Dash Core 12.2.1 update was released.
— DASH (@Dashpay) 11 ноября 2017 г.
It is worth mentioning that in the beginning of October, Dash was integrated into the online banking Wirex platform, and the beginning of November is marked by release of a new version of Dash Wallet for iOS.
Dash's competitive edge comes from the incredible alignment around a common strategy that derives from our network's governance system. At the end of the day, building a complex payment platform is a human-led endeavour requiring extensive cooperation, and our system enables leaders to step forward with the professional skills, entrepreneurial ideas, and drive needed to deploy and expand our network.
CEO, Dash Core
In early 2016, the masternodes that comprise governance system of Dash voted to upgrade to 2MB blocks and 99 percent of the network was in favor of it. The recent release of Dash Core version 12.2 might mean that larger blocks can be implemented soon which will be a very positive perspective for Dash currency in comparison with Bitcoin whose fork SegWit2x was suspended.
After reaching all-time high, currency started to fluctuate mildly and at the press-time is traded at $447 price having market capitalisation of $3,4 billion.