• DASH, a crypto token, started the year with a bullish sentiment and has risen 52% in the first month.
• Bears have limited investor profits thus far as DASH price was auctioning for $61.84 after losing 0.91% on its last day.
• The Dash network has two layers which enhances transaction speed and privacy.
Dash Price Gains
DASH, like many other tokens in the crypto market, started the year with a bullish sentiment that inspired hope among investors. The token rose 52% in the first month, despite efforts by bears to keep it stunted at $53. With this record of accomplishment, the DASH price regained all the ground lost between May and November when it started dipping following a painful year of downtrends and scandals.
Bears Taking Over
Nevertheless, the ground looks shaky for the open-source blockchain token in the first week of February as bears are delivering a good fight that has limited investor profits thus far. The token started the month with a breakout past a critical level, but the move was premature as bears quickly took over on February 2 and delivered the DASH price to the $59.26 support level where it currently sits. At the time of writing, DASH price was auctioning for $61.84 after losing 0.91% on its last day. The token recorded a live market cap of $685.7 million bringing it to #67 on CoinMarketCap..
As a result of Bitcoin (BTC) leading gains starting January 1st till date most altcoins have quickly caught on, bringing total crypto market cap above $1 trillion dollars on February 6th 2023 for first time since September 2022 .
The Dash Network Structure
Dash is an open source cryptocurrency fork from Bitcoin with two-tiered structure to help enhance transaction speed and privacy features; TIER 1 and TIER 2 networks . TIER 1 consists of peer-to-peer (P2P) network miners adding new blocks into network while TIER 2 feature master nodes & full network nodes executing anonymous & instant transactions plus decentralized budgeting & management based on Proof Of Service principle .
The DASH coin has witnessed massive surge in trading volume indicating buyers taking long positions anticipating more gains . As such , Dash remains one of top Cryptocurrencies today recording live market cap amounting to over $ 600 million dollars