Sometimes you can see strong growth in altcoins while the price of Bitcoin remains stable over a long period of time. In the case of the Dash price, the current dynamics look very bullish, while no one knows exactly where this growth came from.
It is quite difficult for cryptocurrencies to recover losses incurred throughout 2018. Most currencies are still down 50% or more since late January, and most altcoins have seen little improvement since then. The Dash price has shown many sharp turns during this period, but the last few hours show more than positive dynamics.
Over the past 24 hours, the price of Dash has seen a significant gain of 21.1%.
With no real explanation for the rise in the price of Dash, one has to wonder: will this momentum last for the long haul? Things are looking very promising for the altcoin at the moment, primarily thanks to the 17.59% increase compared to Bitcoin itself. This shows that the time has come for altcoins to effectively regain some of their lost values, although the Dash price still has a very long way to go to recover its price from the beginning of the year.
As is usually the case when a trend turns bullish in the altcoin industry, overall cryptocurrency trading volume tends to increase. This is exactly what is happening at the moment. With $327 million in daily trading volume, Dash is one of the most liquid altcoins on the market today, although this appears to be temporary. As soon as profit taking begins, the price of Dash will begin to decline again.
Surprisingly, ZB.com is the leader in Dash trading volumes. This exchange generates over 60% of all Dash trades. OKex comes in second, followed by Bitfinex and Binance. Why the demand is primarily generated by ZB.com remains to be determined, although this fact already indicates a potential dump and pump cycle.
For those who trade Dash on a short-term basis, this is a very promising trend. How long this positive trend will last is a completely different question. Since one exchange, which is not even among the top most popular ones, generates more than 60% of all trades, it looks like a correction will occur in the near future.
According to NullTX
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