- Dash holders see a strong “in the money” term as about 47% of them see gains on their investments.
- Dash stepped into the new decade with a strongly bullish market trading at about $41 at New Years, and then soon climbing up to $55 within the first week.
According to a blog post by cryptocurrency blockchain intelligence company, IntoTheBlock, Dash holders see a strong “in the money” term as about 47% of them see gains on their investments.
Dash stepped into the new decade with a strongly bullish market trading at about $41 at New Years, and then soon climbing up to $55 within the first week and then reaching a strong high of $132 within the next week and a half as the bulls pushed the market. The first month of 2020 alone saw Dash giving 180% returns on investments making it one of the strongest performing assets for the year.
Dash currently sits at the 16th strongest cryptocurrency by market capitalization ($1.09 billion), with its core utility focus on enabling untraceable transactions, privacy, and anonymity.
According to IntoTheBlock, Dash is also proving to be a reliable form of payment and store of value in emerging or damaged economies. The cryptocurrency has a very strong presence in Venezuela, where in the last year alone, a 562% increase in active Dash wallets was observed.
Dash Onchain Analysis
Dash gains its strong popularity, according to IntoTheBlock due to two of its distinguishing features: an ability to send instant transactions (with a wait time of only 1.5 seconds), and a private transaction option where transaction funds are disguised within other transactions to allow for added anonymity.
IntoTheBlock’s In/Out of the Money data suggests that Dash is giving its holders a strong “in the money” term as of present. The cryptocurrency’s recent price boom during January of nearly $80 has led to 47% of its holders making money on their investments.
The analysis used by IntoTheBlocks shows the performance of Dash by the trading volume and by the addresses. The first large cluster indicates that a large group of Dash holders, precisely 22,726,000 active addresses, bought into the market at $73.75, and the second large cluster indicates that 12,884,000 addresses purchased the token at $93.59.
36% of holders have also experienced losses on their investments, but the overwhelming positive trend to the prices still overrule the losses. The data also indicates that there are about 12,884,000 addresses that are currently “at the money,” meaning they have just made investments into the currency. It is up to this group to determine the forward trajectory of the token and whether it will continue on its bullish trend.
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