Dashcoin vs. EUR – Cryptocurrencies

Instrument description

Cryptocurrency took the world by storm by offering peer to peer transactions without any intermediary. Bitcoin is the pioneer in digital currency and was basically a whitepaper in 2008 but was launched in 2009 and achieved staggering success in 2017 when its value touched $20,000. After the success of Bitcoin, many other cryptocurrencies have emerged, such as Ripple. Ethereum, Litecoin, Bitcoin Cash, Monero, and Libra.

Cryptocurrencies have not only become popular but evolved with rapid technological advancements. Bitcoin remains the most popular digital currencies, and it also has the biggest market capitalization among all other cryptocurrencies. Investing in Bitcoin is considered less risky and may be quite profitable due to its volatility if your prediction is correct.

Many of the new cryptocurrencies are, in fact, derived from the famous Bitcoin (BTC) such as Bitcoin Cash, Bitcoin Gold (BTG), and Dash (DSH). The digital currencies other than Bitcoins are referred to as ‘Altcoins.’ Many of the altcoins are forks occurring from the Bitcoin, and its main purpose is to further decentralize Bitcoin.

Dash is an open-source cryptocurrency and a combination of two words that are ‘digital’ and ‘cash.’ Dash was introduced to keep the identity of the users anonymous and also helping in quick transactions. Some of the key elements of Dash are

• User-friendly features such as ‘privatesend’ and ‘instantsend.’
• There are total 4,100 master nodes (subset users) in Dash’s network, which makes it one of the largest peer to peer transaction network
• There is an entire designated website called ‘Dash Force News.’
• It has a well-developed and informative sitemap.

Block chain technology is quoted to be a remarkable innovation, and most of the future technologies are based on block chain. The peer to peer transaction is welcomed by people all over the world, and US Equity has said that cryptocurrency will further grow 32% till 2023.

What is the DASH/EUR currency pair?

The Dash (DSH) pairing with Euro (EUR) is given by ‘DSH/EUR’ where DSH is the base currency, while EUR is the quote currency. The DSH/EUR pairing denotes a combination of DSH, which is a digital currency becoming popular, and the Euro, which is one of the most dominant currencies in the world.

The DSH/EUR shows the relationship of Dash with the Euro. The DSH/EUR pair shows how many Euros are required to buy one Dash. The current exchange rate is 1 DSH = £65.189

History of DASH/EUR Pair

Dash was formerly known as ‘Darkcoin’ and ‘Xcoin’ and was founded in January 2014 with a purpose to be more user friendly and upgradeable digital currency. Dash was launched by Evan Duffield as a fork of Bitcoin and named as ‘Xcoin.’ Dash was an instant success, and within its two days of launch, almost 1.9 million coins were mined, which was nearly 10% of the total supply of Dash ever mined.

Dash coins were ‘Instamined,’ which means a large quantity of coins are mined over a short period of time after the initial launch of a cryptocurrency. Dash was formed by Evan Duffield, who said that Dash was produced accidentally, and the ‘Instamine’ was caused due to the bug in Litecoin code.

Dash was launched to resolve some of the flaws in Bitcoin, such as its privacy and transaction time. But many of the features of Dash is similar to Bitcoin, as all transaction in Dash is stored on a digital ledger. Dash operates on a two-tier network where master nodes and miners function side by side.

In Bitcoin, the transaction takes time as miners not only order and verify the transactions but also secure the network. In Dash, the master nodes take some of the functionality from the miners. The current price of Dash is $76.91, and its market capitalization is 745 million. The supply cap is 18.9 million. The all-time high price of Dash was $1,600 in December 2017; and all-time low price was $0.21 in February 2014.

Euro is the official currency of 19 out of 27 member states of the European Union. The ticker for the Euro is (EUR), and it is the second most traded currency after the US Dollar. Euro represents almost 21% of the international reserve currency that is held by central banks. Euro is part of the Major global currencies that also includes United States Dollars (USD), Great Britain Pound (GBP), and the Japanese Yen (JPY).

How to analyze the DASH/EUR Price Chart

If we examine the price chart of the DSH/EUR pair, we see that value remained in the range of $70.000 to $125.000 from the second week of January 2020 to the first week of March 2020. Then there was a steep drop from the second week of March, and the DSH/EUR pair fell to the lowest value of $37.622 on March 16, 2020. The DSH/EUR pair surged again in the second week of April 2020 with a constant increase, although there were few dips, and the highest value of the DSH/EUR pair recently was $85.974 on August 6, 2020.

Currently, DSH/EUR pair trades on $65.24. The Bid price is 65.14, while the Ask price is 65.24.

If you speculate that the value of DSH will appreciate as compared to EUR, then you go long or Buy, and similarly, if you think the price of DSH will depreciate against EUR, then you go short or Sell.

What causes price change in the DASH/EUR pair?

Dash is regarded as one of the best cryptocurrency when it comes to instant payment. Dash is currently used by many users and merchants from across the globe, as it is easy and fast to send and receive cryptocurrency. The factors that influence the price of Dash are mining difficulty, circulation of coins, adaptation rules, and value of other competing cryptocurrencies.

The value of the Euro is impacted by policies and rules of the European Central Bank (ECB) on interest rates and inflation. The economic growth forecasts, Gross Domestic Product (GDP), inflation, and regional political events also influence the price of the Euro.

The information above is for education purposes only and cannot be considered as investment advice. Past performance is not reliable indicator of future results.