Dash (DASH) is a peer-to-peer (P2P) digital currency that was launched in 2014 as a fork of Litecoin (LTC itself was a fork of Bitcoin). The developers of this coin envisioned a cryptocurrency that surpassed Bitcoin through near-instant, low cost and private transactions.
Apart from the proprietary InstantSend and PrivateSend features, the Dash blockchain works via an incentivised node system, promotes a decentralised governance structure, and offers ChainLocks, a feature that makes Dash instantly immutable.
After going live, the native coin DASH saw its price steadily rise to hit an all-time-high of $1,642 in December 2017.
In projecting the price of Dash, many experts take into account fundamental growth as well as global economic events. Here's what you need to know about the history of the price of Dash.
In January 2019, the US tightened its sanctions on the Nicholas Maduro-led Venezuelan government. The impact of the sanctions continues to hurt the country's economy, with inflation sky-high as of July 2021. This has in turn seen the Venezuelan national currency devalued to a point of being worthless and thus forcing more people into cryptocurrency. The coin most used in the country now is DASH, with major companies, restaurants, and merchant points accepting the coin for payments.
Also in June 2019, new regulations from the Financial Action Task Force (FATF) packaged as the "travel rule" asked cryptocurrency exchanges to keep data related to customer transactions. Many exchanges responded with the delisting of privacy coins, including Dash. The price of Dash rose by 70% between January and June, before the wave of delistings contributed to an 83% dip by January 2020.
Adoption and regulation thus are two of the main news events that continue to shape price movements for DASH and could play a key role as to where the cryptocurrency's value moves short term and in the future.
Developer Evan Duffield launches Dash as XCoin before shortly rebranding it to Darkcoin. The name fails to strike interest in cryptocurrency as associations with the dark web persist. (DASH price in these early trades is a modest $0.20).
Dash rebrands as the coin drops the Darkcoin name. It becomes Digital Cash and begins to see an uptick in buying pressure. (Dash price increases above $1, recording a 400% surge).
Dash announces a change of leadership at the core team, with Ryan Taylor becoming the new CEO. Before becoming chief executive, Taylor was the Director of Finance after joining the Dash Core Group (DCG) in 2016. (By now DASH price has soared above $73 as the crypto gears up for the 2017 bull market).
Apple approves DASH for use on the iOS App Store. The move comes after an initial decline by the tech company in 2016. It allows the integration of the digital currency in applications available on the App Store, including the official DASH Wallet. (A bullish market sees DASH price spike to $180, a little over 200% in three months)
Dash price spikes to an all-time high of $1,493.59 as Bitcoin leads the market in a massive bull market that draws the attention of the world to cryptocurrency. (After hitting the $1,493.59 ATH, CoinGecko data shows DASH declines to $613 on 1 February 2018 as the bear market decimates prices).
Dash partners payment platform Paycent to increase cryptocurrencies acceptance across millions of payment points. The partnership also integrates DASH-to-fiat exchanges at the platform's P2P exchange. (Despite the good news, the price continues to fall, reaching $360).
eToro adds Dash on its digital assets platform eToroX. (Despite the good news, Dash price declines to around $70).
August 4, 2020
Dash partners Mexican crypto exchange Tauros.io to launch a Dash-backed Visa debit card, the first of its kind in Latin America. Users can easily convert between Mexican pesos and DASH via a Tauros mobile app. (Price remains relatively unchanged with a move from $87.82 to $86.76).
October 18, 2020
Dash collaborates with StakeHound, allowing all DASH users access to DeFi and a chance to earn masternode rewards via stakedDASH. (The daily close for DaSh is $67.29).
December 1, 2020
Pizza Hut Venezuela begins to accept Dash among other cryptocurrencies. Pizza Hut is an international restaurant franchise and support for DASH in Venezuela adds to the growing number of merchants accepting the coin. (Dash records daily close around $104.45).
December 4, 2020
African cryptocurrency exchange Quidax listed Dash (DASH), adding the coin to one of Africa's largest crypto platforms. It adds to the growing use of cryptocurrency on the continent, including in Nigeria and Zimbabwe. (No major change in Dash price as the coin's value remains near $99.45).
January 1, 2021
Crypto exchange Bittrex announced delisting Dash among other coins amid renewed regulatory crackdown on privacy coins. Dash Core Group calls this a misnomer from a "technical standpoint," comparing the coin's privacy functionality to that of Bitcoin. (Price rose to a high of $148.71 on 10 Jan. before declining to $102.45 on 31 Jan).
Dash launches DashDirect app that allows DASH holders to spend their holdings and earn up to 12% discounts at major retailers and online merchants such as GameStop, Best Buy, The Home Depot, DoorDash, Lowe's, Staples, CVS, Autozone, Chili's, Chipotle, Subway, Ulta and American Eagle. By now Dash can be used at over 155,000 merchants in the US. (Market reaction sees DASH price stem a downturn to climb from $140.27 to $152.03 in three days).
Let's see how Dash compares to some of the fiat currencies, commodities like Gold, and other crypto assets in terms of value and future potential.
Compare Dash with the US dollar
The US dollar is the dominant fiat currency in world trade, a status which DASH is yet to achieve. However, for investors, the dollar's dependence on the goodwill of the US government still leaves it prone to whims such as money printing while Dash has capped supply and a minting protocol that guards against irresponsible money issuance.
Today, 1 DASH is equivalent to $92, meaning the crypto has gained in value against the US dollar since it started trading. For the fiat dollar, although it's supposed to be stable, that's not the case. Yes, its value has fluctuated sharply since the Nixon Shock in 1971, with economic upheavals in 2008 and 2020, but it still pales in performance compared to Dash. The US dollar index is up just 2.73% year-to-date and in the red over the past year. In comparison, the value of DASH is up more than 84% in the past year. The crypto is also expected to continue growing, with the potential to reclaim its 2017 highs of $1,642.
Compare Dash with Gold
A comparison between Dash and Gold, in terms of which is a better investment, would see some lean towards the precious metal due to its status as an age-old investment asset and safe haven. However, despite Dash being a relatively new asset, its increasing use within the payment industry is contributing to greater adoption.
The coin’s value has also been on the rise, with dwindling supply set to spike demand and future price. So, while Gold remains popular, investing in Dash could be more profitable as demonstrated by its high ROI.
Compare Dash with the Venezuelan sovereign bolivar
Hyperinflation in Venezuela has rendered the country's fiat currency the sovereign bolivar (VES) nearly worthless. As the government of the day prints mountains of cash to try to beat inflation, most people have turned to cryptocurrencies. Dash is thus one of the most used cryptos for payments in Venezuela.
With the ability to shield users against the economic distress caused by raging inflation, the transactional money aspect of Dash makes it better than the bolivar. Inflation has seen the VES devalued while further adoption is seeing the value of DASH rise.
Compare Dash with Bitcoin
Both Bitcoin and Dash function as transactional currencies, with the latter more suited to payments for its fast, near-zero fee transactions. Dash has a block time of 2.5 minutes, quite faster than Bitcoin's 10-minute blocks. InstantSend and PrivateSend also make Dash great for everyday use, which is why a growing number of merchants are using the cryptocurrency.
Meanwhile, Bitcoin is preferred as a safe haven asset and is still the king of crypto in terms of global adoption. In terms of price, DASH hit its highest price of $1,642 in December 2017 while Bitcoin recently retreated from a record $69,000 reached in 2021. At current prices, (as of July 28, 2021) Dash has a ROI of 66,810% while Bitcoin's returns stand at around 58,400% since July 2013.
Where Dash price moves to in the future is a matter of projection based on historical performance, crypto adoption, and developments around this specific coin regarding the direction of regulation.
The short-term outlook might be speculatively dominated by a mirror performance of Bitcoin and the rest of the market, while long term, both global trends and economic outlook could shape performance as did COVID-19 in 2020.
We've already seen the market soar in the first quarter of the year before a mini bear market put a breather on prices. DASH rose to highs of $494 in early May 2021, but the price movement since has been downwards.
The DASH price made several bullish impulses in the first half of 2021, with subsequent moves being higher after a period of downtrend and consolidation but another bullish flip could set prices on a new upward trajectory.
DASH price weekly chart showing 2021 performance so far. Source: TradingView
From a technical point of view, Dash has retested a long-term horizontal support line and the next move is likely upwards. The $200-$230 zone provides a significant barrier, above which prices could surge to YTD levels, or higher, by the end of Q4. One analyst predicts a bullish run to highs of $462 by December, while another gives DASH/USD a 2021 forecast of $409 (down from an earlier projection of $632).
The main drivers for the DASH price in 2022 are likely to be the broader market performance and a continued push across the community to have DASH used as the top choice for online payments. The project has been gaining traction in Venezuela since late 2019, and keeping an eye on the regulatory front could inform projections for the rest of the year.
As per the predictions for DASH's price in 2022, most forecasts see the cryptocurrency slowing down after peaking towards the end of 2021, with fresh impetus in the first half of the year likely to catapult the cryptocurrency to new multi-year highs.
According to one analyst site, Dash's price warrants a conservative prediction of $658 by May 2022 before a downtrend ensues to see it priced around $454 by the end of the year. Another predicts that DASH will see its value rise intermittently in 2022, but could close the year valued at around $562.
As seen above, Dash price predictions for 2021 suggest the value of the privacy coin could rally as high as $700 or rise and then fall to around $400. There could be an event or news item that leads prices to an incredible spike, or a debilitating bloodbath.
This is why we say that price predictions for cryptocurrencies are not cast in stone for the fact that volatility and any number of factors can move the market in either direction and invalidate the forecast. This too applies to Dash price predictions for 2022 and beyond.
At the moment, growth within the cryptocurrency industry is a plus to investors as maturity comes with more adoption and investments from institutions. However, there's also increased government regulation as observed above, especially towards privacy coins that regulatory agencies feel pose a significant threat given the potential use of such platforms for illegal activities like money laundering, tax evasion and terrorism financing.
While this isn't entirely a fact, continued focus on Dash for instance could inject negative sentiment and impact future prices.
Notably, markets are cyclical and any long-term bear market moves will be succeeded by a raging bull market and DASH price could yet surpass its all-time high reached in 2017.
With that in mind, this analysis puts DASH price at around $423 by end of 2023, while another predicts Dash price will grow over the next five years to $465 by 2026.
To conclude our forecast about Dash price, we note that the outlook for this cryptocurrency varies greatly with both bullish and bearish calls in the short term as well as long term. This is likely due to the poor performance the coin has exhibited since its all-time high in 2017. But the cryptocurrency has also seen a lot of volatility in the past year, with DASH/USD jumping from lows of $100 in November 2020 to highs of $493 in May 2021.
Despite this, the coin is over 80% down after dropping to current prices of around $92. While not a pretty picture, the price-performance has not been in rapid fluctuations, largely making Dash a better cryptocurrency for everyday use in payments.
As such, Dash is on track to become a digital cash king, which was Satoshi Nakamoto's vision for Bitcoin. If the coin gets traction in merchant adoption in first economies as is the case in weak economies like Venezuela and Zimbabwe, its price might see significant upsides to coincide with some of the more bullish predictions seen above.
As noted earlier, factors that may influence Dash price in the near future include adoption across the world, regulatory developments and overall demand for cryptocurrencies.
Hopefully, the above outlook for Dash will add to the understanding you have about the cryptocurrency's price movements. If you are satisfied with your due diligence, you can register on one of the recommended platforms to buy DASH.