Since the beginning of 2017, the price of dash almost tripled from 0.011 BTC to 0.03243 BTC. The market capitalisation has exceeded $280 million.
As of 14.30 UTC on 2 March, dash exchange rate reached 0.04794 BTC or $60 per unit. By Friday, the price dropped again and is currently hovering around 0.03243 BTC or $40.
On 24 February, dash was traded at 0.02133 BTC. Within a week, it has risen by more than 50%.
For most of 2016, the cryptocoin’s rate fluctuated between 0.009 and 0.021 BTC.
According to CoinMarketCap, dash’s market capitalisation has reached $282.4 million. Now the currency has the third place in the ranking after bitcoin and ether.
Dash is a cryptocurrency featuring two-tier architecture of the distributed network that relies both on miners and masternodes. Dash offers more anonymity than the bitcoin network because it uses the anonimised transaction system DarkSend. Due to its two-tier architecture, the network is capable of instant transactions. These are conducted via masternodes and then saved in the blockchain via mining. The cryptocurrency was launched in January of 2014. Initially, for the period up to March 2015, it was called Darkcoin, then renamed as Dash.
Masternode operators receive 45% of rewards, another 45% is paid to miners, while the remaining 10% goes to the decentralised budgeting system.
Dash owes its growth to a number of factors including specific characteristics of its network and the aspirations of long-time enthusiasts and short-term speculators. One of the factors is the deficit of coins available for trading, reports CoinDesk. A masternode requires a deposit of 1,000 dash, and there are about 4,000 masternodes in the Dash system. Therefore, more than a half of all 7.14 million coins are locked in these deposits. Besides, the growth of dash exchange rate is induced by the growth of bitcoin price.