Rank #194
Dash

Dash

DASH
$31.01
6.30% /24h

Dash currently traded at $31.01 price, we update this information in real time. Over the past 24 hours it changed from $29.17 to $31.01. Currently Dash is ranked as #194 in our chart. The total supply of Dash is 11,799,712.00

graph not available

Category

$Best of the best

Market cap

$365,904,763.00

Volume (24h)

$42,949,312.55

Volume/Market cap (24h)

11.74%

Circulating supply

11,799,712.00 DASH

Total supply

11,799,712.00 DASH

Max supply

18,900,000.00 DASH

Fully diluted market cap

$365,904,763.00
DASH to USD converter
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  • 1 DASH = 31.01 USD

    Forked from the Bitcoin protocol, Dash was originally known as Xcoin, and then Darkcoin. In 2015, the project settled on the current name, ‘Dash’, as a cryptocurrency that intended to provide users with privacy and anonymity in transactions.

    Since its conception, plans for the project have changed. While it still features strong encryption features, Dash now aims to act as a digital currency primed to facilitate everyday payments, competing with Bitcoin by offering faster daily transactions. The mission is well underway – as of 2024, Dash exists as a user-friendly mode of payment adopted globally.

    But how does Dash compare to Bitcoin and other rival cryptocurrency projects? In this article, we will discuss everything you need to know about Dash and the project’s ecosystem.

    Dash price

    The Dash price (as of February 2024) is around $27 per token. The current DASH price is down by almost 56% compared to its February 2023 price, contrary to bullish trends in the broader crypto market towards late 2023. Consider the Dash’s price history over time to make better-informed price predictions for 2024.

    • 2015: When the DASH token launched in 2015, it was trading at around $0.29 per unit, gradually climbing to around $20 per token by the end of Q1 2017. 
    • 2017: Towards Q4 2017, DASH experienced a remarkable price upsurge, reaching all-time price highs of around $1,496 amid the broader altcoin frenzy.
    • 2018: The upsurge was soon met with a notable retracement, and the DASH price fell to around $57 in 2018. Between then and Q4 2020, DASH experienced price volatility, fluctuating between $50 and $200 per token.
    • 2021: In Q1 2021, DASH exhibited another bullish trend, mirroring the upward trajectory observed across various altcoins in the cryptocurrency market. It reached a high of over $400 in 2021 (though this was still a decline of over 60% from its all-time high in 2017). Later that same year, DASH hit a low of around $80.
    • 2024: Post-bull run, DASH’s price stabilized at around $40, but has gradually decreased since 2022 to its current price point of around $27 per token. 

    Dash has witnessed two substantial price breakouts. First during the ‘alt-season’ of late 2017, and again in early 2021, coinciding with the broader surge across the cryptocurrency market. With a bull run expected to begin in 2024, it is worth considering the factors that might influence Dash’s price:

    Factors influencing Dash’s price

    • Market sentiment: Price action in the crypto market is usually influenced by the general market sentiment. A positive outlook among traders and investors can cause a spike in the DASH price. Conversely, negative news can correlate with decreasing investor confidence, resulting in quick price depreciation.
    • Supply and demand: The price of DASH is affected by the general principles of supply and demand. If demand outweighs supply, DASH becomes more scarce, which is usually reflected by an increase in price.
    • DASH adoption: Increased adoption rates contribute to upward price shifts for DASH. New collaborations serve to spotlight projects, attracting fresh users and investors to the ecosystem. Furthermore, new updates about Dash’s development and exciting additions to the roadmap tend to boost investor confidence and, subsequently, the price of DASH. 
    • Macroeconomic events: Macroeconomic factors including inflation, currency devaluation and regulatory policies can impact the price of DASH.

    What is Dash?

    Dash is a decentralized ecosystem run by a community of users known as ‘masternodes’. Launched approximately five years after Bitcoin’s creation, it seeks to improve on some of the weaknesses of the Bitcoin blockchain.

    Bitcoin experienced a problem, in that it could not be used for everyday payments and transactions because of its lengthy transaction time and large fees. It also faced privacy issues due to the fact the Bitcoin ledger is public and transactions can easily be tracked. Dash addressed these issues with innovative technologies such as InstantSend (for instantaneous transactions) and PrivateSend (for privacy protection).

    So, what is DASH? DASH is the token native to the Dash ecosystem. The name ‘Dash’ was coined from ‘Digital Cash’, reflecting the primary aim of the ecosystem.

    Who created Dash?

    In January 2014, software developer Evan Duffield created Xcoin. The protocol was forked from the Bitcoin protocol (from Litecoin) to offer swift and cheap transactions. In early 2015, the coin was renamed Darkcoin. In March 2015, the coin finally rebranded as Dash, and has subsequently settled on this name.

    How does Dash work?

    The Dash blockchain was forked from the Bitcoin protocol, with changes made to introduce new features such as faster transaction times, enhanced privacy and a self-funding governance system. Consider exactly how Dash works by exploring some of the technology and features that are unique to the project.

    Algorithm and transaction handling

    Dash uses the X11 algorithm, modified from the Proof-of-Stake (PoS) consensus mechanism.

    In comparison, Bitcoin uses a Proof-of-Work (PoW) mechanism to validate transactions and enhance network security. Bitcoin’s PoW mechanism is timely and costly, and highly energy-intensive. It requires all transactions to be validated by all nodes within the network, and a predetermined number of blocks to be validated before a transaction is processed. This presents problems when considering scalability, as it increases processing time, and thus transaction time and fees.

    Dash avoids these problems by using a different system to handle transactions, with the use of ‘masternodes’, a collection of users who simplify the verification and validation of transactions within the miner network. This reduces the number of nodes required to validate any one transaction, increasing the capacity to scale. Like PoW, masternodes offer double spend protection, positioning Dash as a secure and viable, thus potentially attractive, alternative to Bitcoin.

    Decentralized governance

    Dash utilizes a unique, decentralized governance model. Masternodes and community members who hold DASH tokens are allowed to partake in the decision-making process within the ecosystem. Dash also operates on a self-funding model by splitting block rewards between three parties: masternodes, miners and the treasury (used to finance future developments for the Dash project), in a 45%-45%-10% ratio, respectively.

    Privacy

    Dash protects its network by using some unique security features. For instance, it offers an optional process called ‘CoinJoin’ mixing, which shuffles users’ DASH with DASH held by others, scrambling transactions to enhance privacy. Another security innovation is ‘Chain Lock’, which refers to a digital signing of blocks as and when they are mined, implemented to protect the blockchain against 51% attacks.

    Dash halving

    Like Bitcoin, Dash has a block reward. Instead of halving, it decreases by 7.14% every 210,240 blocks. This means that on average, a decrease occurs every year.

    Use cases and applications of Dash

    Some popular use cases and applications of Dash include:

    • Remittances: Low transaction fees make Dash suitable for cross-border transactions and remittances. By introducing features such as contactless payments, usernames and social network integration, ‘Dash Evolution’ aims to simplify cryptocurrency usage to the level of convenience associated with platforms such as PayPal, further enhancing this utility.
    • Micropayments: Dash is suitable for the payment of small amounts of money because of its extremely low transaction fee. For example, pay-per-article billing models are not feasible with traditional payment methods because of high transaction fees. However, with Dash, these micropayments can be made.
    • Retail payments: A plethora of businesses have integrated Dash into their payment systems. From small businesses to online retailers, Dash offers a convenient payment solution, allowing merchants to accept payments with minimal fees and quick settlement times.

    Dash market performance

    Although Dash aimed to provide improvements to the Bitcoin model, it has never overtaken Bitcoin in terms of market performance. While Bitcoin is the #1 cryptocurrency by market capitalization, with a figure of around $840bn (as of February 2024), Dash ranks #145. Comparatively, Dash’s market cap is around $317m.

    How to buy and store Dash

    Investors can purchase DASH on almost all cryptocurrency exchanges, both centralized and decentralized. 

    Centralized exchanges:

    Buying cryptocurrencies on a centralized exchange is relatively straightforward. Many facilitate the purchase of DASH, including PointPay, Binance, Bitrue, Kraken, XT.com and KuCoin.  

    • Download the exchange’s mobile app or open the website.
    • Create an account and complete your KYC.
    • Fund your wallet.
    • Find the DASH/USDT trading pair or any DASH pair of your choice.
    • Buy DASH.

    Decentralized exchanges:

    While the process of buying DASH on a decentralized exchange might be more complex for new investors, there are many platforms available, including THORWallet DEX (DASH/CACAO) and Komodo Wallet (DASH/DOGE, DASH/LTC, DASH/BCH, DASH/TRC). 

    • Download a wallet app such as Dash Core Wallet (Dash’s own wallet), Bitamp, Zengo or Coinbase, or access via a web browser.
    • Create your wallet and back up your seed phrase.
    • Fund your wallet with any coin of your choice, or the available trading pair on the exchange you plan to buy from.
    • Choose an exchange to buy from, and then open the exchange’s website in your wallet’s browser. 
    • Select the coin you have in your wallet, and choose to swap it for DASH. 
    • Wait for the transaction to go through. Your DASH will now be in your wallet.

    Wallets and DASH safe storage 

    After purchasing DASH, transfer your coins to a wallet for additional security. 

    No one wallet is fundamentally better than another. While hot wallets have the advantage of easy access and proactive management of cryptoassets, cold wallets offer more long-term security. Non-custodial wallets provide users with increased control over their assets, whereas custodial wallets that offer third-party support can be more beginner-friendly. 

    Ensure to store your DASH in the wallet that best suits your individual needs and investment strategy.

    The future of Dash

    Dash has a track record marked by continuous innovation and progress, introducing numerous notable products and new functionalities via an ambitious roadmap. The Dash roadmap details some developments to be launched in Q1 2024, including the Dash Platform v1.0 rollout and activation and the DashPay Launch.

    Risks and challenges

    Investing in Dash, like any cryptocurrency, presents various potential risks and hurdles. The best way to manage risk with any cryptocurrency is by keeping a diversified investment portfolio that combines Dash and other cryptoassets, to spread risk and reward across coins. 

    • Volatility: Dash is a volatile asset and price predictions are merely speculative. There are no guarantees that you will see either short- or long-term gains from investing in DASH. 
    • Security concerns: Security is a major concern for all crypto investors. Potential security issues involve hacking, fraud or vulnerabilities in exchanges and wallets. You can increase the security of your assets by only trading on reputable exchanges, implementing two-factor authentication on your accounts, and scrutinizing the links you open on your wallet apps to avoid phishing scams and hacks. 
    • Regulatory and legal aspects: The cryptocurrency landscape is fraught with legal and regulatory ambiguity that varies across jurisdictions. This uncertainty poses a significant challenge, as DASH is subject to the ever-evolving crypto regulatory landscape, which can impact both utility and price.

    Comparing Dash to other cryptocurrencies

    How does Dash compare to other cryptocurrencies, such as those it was modeled from; Bitcoin and Litecoin?

    Dash vs Bitcoin

    Utilizing the X11 algorithm, Dash offers a swifter confirmation time of approximately 2.5 minutes, a stark contrast to Bitcoin’s 10 minutes using the PoW mechanism. Dash’s transaction fees are also significantly lower than Bitcoin’s, especially during peak demand. 

    In terms of privacy, Dash employs PrivateSend technology, ensuring true anonymity, while Bitcoin transactions remain pseudonymous and traceable on the public blockchain.

    Dash vs Litecoin

    Dash and Litecoin differ in their consensus mechanisms, with Dash using the X11 algorithm and Litecoin relying on PoW, similar to Bitcoin. Litecoin’s transaction speed is similar to that of Dash, but Dash stands out with lower transaction fees.

    Moreover, Dash prioritizes user privacy through PrivateSend, whereas Litecoin transactions, akin to Bitcoin, are pseudonymous and traceable on the public blockchain. 

    FAQs

    How much is 1 DASH to buy?

    As is the case with all cryptocurrencies, the price of DASH is volatile and can experience sharp fluctuations. At the time of writing, one unit of DASH is around $27, though investors do not need to buy whole tokens, as most exchanges offer fractional buy-ins.

    Is Dash actually safe?

    All cryptocurrencies come with associated risks. The market is highly volatile and largely unregulated, so investors should conduct thorough research before investing. New investors should use a trusted exchange and consider using a demo account to practice trading without risking any of their own capital. The safety of your DASH largely depends on how you store it, so make sure to research which wallet suits you best.

    How can I get DASH coins?

    You can get DASH by buying from an exchange, mining, or receiving it as payment for goods or services.