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Dash Price: Uptrend is Caused by one Exchange Inflating the Trading Volume

Several hours ago, it became apparent the cryptocurrency markets might finally see some positive momentum this weekend. So far, that momentum ha snot relented, although it hasn’t grown much stronger either. The Dash price is currently enjoying a nice spell of momentum, as its value surpassed $225 once again.

Dash Price Makes up Lost Ground

The ungracious fall from grace of the Dash price throughout 2018 has made a lot of investors and speculators worried. After hitting $1,500 a few months ago, the Dash price has dipped a slow as $209 in recent weeks. It has been a gradual decline for Dash, albeit one that is on par with all other major cryptocurrencies. Reversing this momentum will take a lot of time and money.

Keeping that in mind, every brief spell of positive momentum needs to be cherished. For the Dash price, that positive momentum has materialized in a strong 7.2% gain over the past 24 hours. Dash is also one the strongest climbers in the cryptocurrency top 15 ranked by market cap. Thanks to this unexpected uptrend, the Dash price has successfully surpassed $225 again.

This push in value is also aided by ongoing developments in the DASH/BTC ratio. This particular ratio has increased by as much as 5.96% in favor of Dash. Combined with Bitcoin’s current USD gains, it has a very positive effect on the Dash price overall. If both ratios remain in the green all weekend, the price per Dash may effectively surpass $235 come Sunday evening.

As is always the case in the cryptocurrency world, no momentum will go unpunished. Even though Dash benefits from an increased trading volume of $265.177m, that volume can dry up at any given moment. With the bulls currently in firm control of the market, it seems everything is going the right way for Dash. However, weekends are always incredibly unpredictable, and all bets are off during this time of the week.

It would appear the ZB.COM exchange is inflating the Dash trading volume as of right now. This platform represents 72.5% of all Dash trades over the past 24 hours, which is rather unusual. As such, it is also the primary reason as to why the Dash price is going up all of a sudden. Huobi comes in third place, with just $5.94m in 24-hour volume. It will be rather interesting to see how all of this plays out in the coming hours and days.

For Dash price speculators, the current momentum is more than welcome. Things have not gone too well for nearly six months straight. A short reprieve will be appreciated, but everyone is looking for a long-term reversal. Whether or not this is the beginning of the Dash price reversal, remains to be determined. With just one exchange dominating the volume, that seems highly unlikely.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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