Over the past two weeks, the price of Dash has skyrocketed, its value has gone up by more than 100 percent.
The rise has started at around the $20 to $22 mark and reached as high as $57.89 on March 2. As of the time of writing, the value has retraced somewhat but is still at a very high mark of about $52.
This incredible surge has taken Dash higher on the list of all cryptocurrencies by their market capitalization, displacing the previous favorites Ripple and Litecoin. Right now, Dash is the third most popular cryptocurrency, right after the undisputed leaders – Bitcoin and Ethereum.
The sharp increase is unprecedented in Dash’s history and the cryptocurrency community is now trying to discover and analyze why it happened.
In addition, the average daily trading volume of Dash is now similar to that of Ethereum, the second-most-popular cryptocurrency after Bitcoin: $25 mln vs. $29 mln respectively. The altcoins have similar trading volumes despite a wide discrepancy between their capitalizations: $1.6 bln for Ethereum and $376 mln for Dash. That indicates an unusually high interest from Dash’s investors.