Over the last two day DASH has been trading in a bullish zone. On May 13, the asset ranked 13th was trading at the $136 resistance level. By the time of writing, DASH was trading at $146.88. This bullish run might continue upwards if the retracement levels are not broken in the continuation zone.
Based on the recent price movement, DASH is keeping up with the market’s bull run spearheaded by Bitcoin. For example, between Saturday and Sunday DASH increased by a value of about 10% while other digital currencies in its category failed to hit 2% growth.
However, on May 14, DASH suffered a minor tumble but recovered well. By Wednesday, DASH had surpassed another resistance level of $140. The current value of DASH is beyond the entire market expectations.
In the event DASH breaks another resistance level, the crypto should be heading towards the $160 trading mark by the weekend.
Note that DASH is among the leading cryptocurrencies in Venezuela. The current bull run is based on the fact that Venezuela has not witnessed any major political set back in recent times. The atmosphere has been calm for some weeks.
If we have a major negative political happening in the South American country, then we should expect the value of DASH to tumble. DASH spiked in popularity after it was adopted to salvage the economic situation in Venezuela. Additionally, the bull run can also be attributed to Bitcoin’s ongoing good fortunes.
If the Venezuela situation remains calm, alongside other development at the DASH network, we should see major growth of the asset with a possibility of hitting over $200 by the end of 2019. With a market capitalization of over $1 billion, DASH is also gearing up to be in the top 10 cryptocurrencies.
Dash (DASH) launches new Dash Investment Foundation
The Dash Core Group is due to launch a new decentralized investment scheme. Dash Ventures, officially known as Dash Investment Foundation, will soon be fully operational, according to a blogpost.
The Dash team first proposed the idea of a networked investment fund back in 2018, with “the aim of enabling the Dash network to invest in higher-risk opportunities, by enabling proposal owners to issue equity or other assets in consideration of the network funding”.
The post claims that Dash will be “the first cryptocurrency network with a proposal system capable of investing in its own ecosystem. No longer must all distributions from the proposal system be grants… (creating) a bridge between the network protocol and the legacy financial and legal systems…opens new possibilities for entrepreneurs and the Dash network to partner and mutually benefit from the funding available through the Dash network via Dash Investment Foundation”
DCG is now completing the final stages of making the fund entirely independent and autonomous. Dash Investment Foundation’s investment allocations will be chosen through a decentralized voting system. Elections for the supervisors will be held starting May 23rd, and we plan for the election to conclude by June 16th
Dash (DASH) popularity grows in Australia and Colombia
Dash (DASH) is growing in popularity in Australia after a listing on the country’s Jinance exchange. Colombia is another major growth area for the crypto, thanks to a listing on the DAEXS trading platform.
The Jinance trading platform was founded back in 2017, initially known as String Exchange. It went live in September 2018, and offers a number of AUD trading pairs. It is now the first crypto exchange to offer a AUD-DASH pair.
According to Dash Core Group CEO Ryan Taylor, “Listing on Jinance with InstantSend is a big win for Dash and our Australian users, as we continue to extend that technology into new markets globally. Australia has emerged as an influential market for the cryptocurrency space, which is why we’re delighted to be able to offer an easier way for the country’s crypto community to buy and sell Dash using local currency”.
Meanwhile, Dash has also been listed on the Colombian exchange DAEXS, one of the country’s most popular trading platforms, and the only crypto exchange that operates in the country itself. South America is a particular hub for DASH adoption, with Venezuela’s escalating hyper-inflation contributing to the popularity of the crypto there. Colombia is often used as a safe haven for Venezuelans hoping to transfer money out of the country in order to prevent losses.
Dash announces another 7.14% block reward reduction
Recently, Dash News reported that Dash has officially decreased its block reward by 7.14%, which it does a little over evey year or so in order to combat inflation. It is a similar, although less dramatic, process as the Bitcoin halvening, which happens about every 4 years.
Dash decreases the block reward for its coin every 210240 blocks, always by 7.14%. This roughly comes out to happening every 383.25 days. For comparison, Bitcoin reduces its block reward by 50% every 4 years. Both systems will one day mint their final coin and allow for the network to be powered by fees only, but Dash will take notably longer to achieve this than Bitcoin.
From the article:
“Dash will continue to emit coins for approximately 192 years before a full year of mining creates less than 1 DASH. After 2209 only 14 more DASH will be created. The last DASH will take 231 years to be generated, starting in 2246 and ending when emission completely stops in 2477.”
Bitcoin on the other hand will have mined 99% of all Bitcoin by 2036, though that last 1% will take until 2140 to be mined. It is unclear which, if either, model will be more efficient or if either coin will still even exist in hundreds of years.
Still, it is good to see these projects following the practices layed out by their teams. Hopefully people are still using Dash in 2477!