These are very interesting times for the cryptocurrency industry. Even though Bitcoin and Ethereum continue to lose value nearly every single day, the exciting action is taking place in the middle of the pack. Dash, a prominent altcoin, is currently going through a major dip despite positive developments, It seems to be a matter of time until this trend reverses.
Dash Price Trend Makes Little Sense
No one will be really surprised to learn the Dash price is coming down a bit after nearly hitting $200 last week. Such a massive uptrend cannot be sustained indefinitely, and a correction was bound to occur. As such, a dip to the $180 range seems to be more than fair, albeit some users may be concerned about such a steep drop. It is not uncommon in the cryptocurrency world by any means.
Despite a lot of positive news becoming apparent last week, it seems Dash is unable to buck the overall bearish trend across all cryptocurrencies. That is not entirely unsurprising, although it seems to make little sense to expect even further losses at this stage. There will be a turning point sooner or later, especially because Bitcoin is not losing significant amounts of value as of right now.
When it comes to looking at the current batch of privacy-oriented cryptocurrencies, it seems Dash is not necessarily the most popular. Although a Twitter poll is no official indicator whatsoever, it does show there is a lot more support for PIVX at this stage. Dash is still ahead of Monero in the rankings, whereas ZCash is almost irrelevant in this poll. Very interesting statistics, albeit with little value attributed to them.
— Altcoin Magazine (@Alt__Magazine) September 5, 2018
There is more positive Dash news to kick off this week as well. The altcoin is now listed on the AlteumX exchange. While a relatively unknown platform among most cryptocurrency traders, any exposure can do wonders for alternative cryptocurrencies. Although no fiat gateways are offered at this stage. It is still a positive development, all things considered.
— Alteum (@Alteum_Official) September 10, 2018
Secondly, there is a new project on the horizon known as Neptune Dash It is a new service provider designed to offer masternode pooling for Dash owners. To put this into perspective, the firm will let users pool funds to run masternodes and receive a portion of the payouts based on their invested stake. It is a very interesting business model which will undoubtedly attract a lot of attention.
Despite the current negative Dash price trend, there is no real reason for concern just yet. This momentum cannot last for much longer, as all markets look heavily oversold at this stage. The Dash price will seemingly return to $200 before the year is over, although predicting an exact timeline is mere guessing work at this stage.