All cryptocurrency markets enjoy another brief positive spell as the weekend commences. It is another positive development which further shows how things are looking up, at least for the time being. Interestingly enough, the Dash price is noting some of the biggest gains as of right now.
Dash Price Continues To Climb
Even though the Dash price has seen its fair share of positive momentum over the past few days, there is still a lot more positive momentum in the tank. Thanks to another strong gain, the Dash price has finally surpassed $200 again and seems to be underway to hit $210 over the weekend. Assuming that is the case, the Dash market cap will get a healthy boost as well.
Over the past 24 hours, the Dash price has noted a 9.95% increase. This is the biggest gain in the entire top 15 of currencies ranked by market cap. It also shows the momentum continues to turn in favor of altcoins, rather than Bitcoin directly. At the same time, one has to acknowledge no altcoin would be capable of noting any real gains unless the Bitcoin price goes up. As of right now, both conditions are met, and it seems things will only get more interesting as time progresses.
In the Bitcoin department, Dash is also getting a lot of praise and noting strong gains. More specifically, the Dash/BTC ratio has improved by 8.85% in favor of this popular altcoin. Even so, it remains to be seen how long all of this momentum can be sustained, primarily because the Bitcoin price does not appear to be in the best of places as of right now.
Despite this being a weekend, the overall cryptocurrency trading volume is still looking rather healthy. That situation will come to change as more time progresses, even though there are a lot of indicators things will not grow all that bad in the near future. Even so, weekends usually see a dip in volume, primarily because fiat currency deposits are not credited on most exchanges during Saturdays and Sundays. Dash still notes $372.54m in volume, which is rather positive.
Most of that volume still originates from the ZB.com platform, which comes as no real surprise. Its BTC and USDT pairs are well ahead of LBank’s BTC market. Huobi adds another USDT trading pair, followed by YoBIt’s BTC market. With ZB.com generating nearly 80% of all trades, it will be interesting to see how this affects the Dash price moving forward.
For the cryptocurrency industry, trends like these show the industry is far from dead, despite some mainstream media claims. Even so, it has become apparent the Bitcoin price momentum may place less of a big role in terms of altcoins gaining value than one would expect to see otherwise.
Whether or not the Dash price would rise in value if Bitcoin were going down, remains difficult to predict. For now, the altcoin is noting impressive gains, which is what most speculators care about first and foremost.