The last seven months have been hell for crypto, but they have also created a massive opportunity to pick up valuable cryptos at dirt cheap prices. Getting into the right coins at this point can give huge gains in the next bull rally. One project that is heavily undervalued at the moment is Dash (Dash), and for solid reasons.
First, Dash is one of the few cryptos that work well for everyday payments. Dash is one of the few cryptos through which, you can send money instantaneously, and at a negligible cost. But it’s not just about speed, Dash is also highly secure. That’s because it is decentralized, with transactions being confirmed by over 200 Terrahash of ASIC power on thousands of nodes spread across the world.
On top of that, Dash transactions are private, and any transactions you send using Dash can’t be traced. These are the features that people look for in a digital currency. Everyone wants to send money fast, in a secure environment and without broadcasting to the entire world the type of transactions that they are making. These features give Dash (Dash) has a huge potential for adoption, which also makes it a high growth coin, as blockchain adoption becomes a reality.
Another factor that makes Dash highly undervalued is its coin supply. Sure, there are many other coins out there that have similar functionalities as Dash, but they have one huge disadvantage, supply. Most of them have hundreds of millions, if not billions of coins in circulation. Dash only has a supply of 8 million coins.
That’s lower than the number of bitcoin’s in circulation. As such, the chances of Dash’s value rising fast in a bull market are quite high. Besides, now that it is trading below $200, from a high of over $1500, investors will be looking to take their positions in Dash. This increase in demand against a capped supply of 8 million coins gives it the potential to skyrocket in value, within a very short-time.
However, the most attractive feature to Dash that also gives it a good chance to grow is its staking feature. One can run a Masternode on Dash if they have 1000 coins, and earn a good passive income off it. Now that the price has dropped significantly, more people will be looking to acquire the minimum number of coins required to run a Masternode. This demand chasing very few coins will most definitely push up the value of Dash by a huge margin in the near future. It is one of the main reasons why Dash attained very high valuations in 2017, and also the reason why it will achieve, if not surpass, these valuations in the next Bull Run.
Even from the charts, Dash is trading at close to last year’s prices, before the Bull Run. Selling momentum has declined too, implying that Dash could have hit the bottom. Once the bullish reversal happens, Dash will definitely outperform the market by a huge margin.