With the crypto-prices struggling to keep their bullish pace for longer then a couple of days, traders are taking the hit. However, even with Bitcoin being in the red for the last 24-hours Dash surprised the market today.
One exception today is the pair DASH against the US Dollar as it is changing hands in the green with 5.06% increase in the last 24-hours. It is leading the BTC market with 6.04% while trading at $272.34.
Unfortunately, it would appear virtually all cryptocurrencies are seeing less trading volume over the past day. Although there is still over $16bn worth of trades, it’s nearly $4bn less compared to two days ago. For Dash, the volume is rising a bit, as $194.372m in 24-hour trades is not that bad, all things considered. Rest assured this number will continue to change in the coming hours.
Dash’s blockchain network processed double of Bitcoin’s transactions the previous day. The event was part of a network stress test which proved long-term scaling strategies with no performance decrease.
The Dash network just did 591k transactions in the last 24h, almost 3 times as many transactions as Bitcoin in a stress test and fees stayed the same: $0.0005. Users didn’t even noticed that the network was being battle tested.https://t.co/DZRwtaSExF@Dashpay
— Samuel Barbosa (@sambarboza) July 19, 2018
Continuing the comparison with the lead of the crypto-verse and its roughly 1 MB blocks, Dash has running 2MB blocks. Dash’s block interval is approximately 2.5 minutes, four times that of Bitcoin, so theoretically Dash currently possesses eight times the network capacity.
Years back, the team behind Dash teamed up with Coinfirm to deliver better solutions for merchants that need to implement Anti-Money-Laundering & Know Your Customer laws. These rules are set-up to fight fraud and money laundering.
The current Dash Core Group CEO – Ryan Taylor added:
“I think there was a lot of early, negative reaction to all of this from both in and outside of our community — because the perception was that Dash was somehow being regulated. That’s not the case, however. We are simply seeking to greatly expand the number of businesses that integrate with Dash, most of whom already have to meet AML and KYC compliance requirements.”
Accordingly, receiving the no action letter from the SEC assures firms in-need even more so they can implement the solutions in their structure. This will be done without facing regulations.
With the upward momentum going still on, DASH against the US Dollar could reach one of the Fibonacci Ret marks. The second key level would be the $414.00 at 61.8% Fibs, which if broken would open gates for a strong rally in the upcoming months.
Trade Safely and do not overtrade!