As at December 27th, Dash recorded intraday lows of $38.50 USD, signaling a possible bottom for the privacy coin. Through the first two weeks of January, the price of Dash has shot up over $70.00 USD, representing an 84% increase since Dec.27 – 75% soar since the start of 2020. The spike in Dash price can be attributed to the increasing adoption across Venezuela and Argentina as well as the recent release of the Evolution Testnet, a project that comes to the market two years later than first promised.
Dash boosts over 75% in past fortnight
The price of Dash (DASH) has performed exceptionally well in 2020 after a rather slow 2019. DASH’s price experienced exponential growth in the past two weeks pushing the coin up 14 places on the Coinmarketcap rankings. Starting the year off changing hands at $40.05on the dollar, DASH spiked through the last two weeks to trade at $70.641 USD, breaching the key resistance levels at $52, $57 and $60 on its way up.
The 75% spike in 2020 has seen DASH break into the top 20 cryptocurrencies with a total market cap of $655 million USD. The price trends in line with the upper 20-day Bollinger Band with the middle line providing near term support signaling a possible continuation of the bullish run with resistance at $80.00 USD firmly in sight.
Evolution Testnet release sparks off Dash’s massive bull run
According to a post published by the Head Product Manager at Dash Platform, Dana Alibrandi, Dash successfully launched the long-awaited upgrade, Evolution Testnet at the end of December and the market is finally reacting to the launch.
In case you're wondering why Dash gained ~60% in price & climbed six rankings on @CoinMarketCap within the last 14 days:
— Amanda B. Johnson (@AmandaB_Johnson) January 13, 2020
The upgrade on the Dash protocol enables users to replace their wallets cryptographic codes with simplified usernames which reduces the cases of confusion and human error. Notwithstanding, the upgrade integrates other blockchains offering interoperability in a bid to enhance the development of efficient and wide variety of decentralized applications.
Can Dash break $100? Price predictions are rather tricky on such an asset with wild volatility, but Dash shows prospects of hitting $100 in an oncoming uptrend if bulls are able to hold price above $70 USD as the market enters into the consolidation phase.