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Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
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Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

The Path To Evolution Is Behind Dash’s Resurgence, Add 5.4%

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis altcoins

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  • Dash bulls in control, prices up 5.4 percent
  • ChainLocks is an assurance of Dash security

Before Evolution, the latest Dash upgrade introduces ChainLocks. It is a shield against the disastrous effects of a Majority Attack. Since the benefits of Evolution are massive and instills confidence, Dash prices responded. At the time of writing, it is up 5.4 percent from last week’s close.

Dash Price Analysis

Fundamentals

Capitalizing on a horrendous leadership, Dash is quite literally replacing the worthless Venezuelan Bolivar. Decimated by hyperinflation, cryptocurrency is, by and large, the perfect choice for Venezuelans.

Perhaps to bulwark its network against attacks, which can be government-sponsored in some scenarios, Dash upgraded. Introducing ChainLocks, the system can successfully rebuff attempts of a Majority Attack. Besides, Dash holders can instantly “re-spend Dash upon receipt via Long-Living Masternode Quorums (LLMQ)-Based InstantSend.”

Always building towards Evolution, this software improvement sets Dash apart from competing networks with similar purposes. Bitcoin Cash, for example, pitch their services under the same theme. However, it lacks in numbers, and the overly, the median transaction value says it all.

On the contrary, Dash is already striking partnerships and creators are steadfast on its road map. Ideally, the activation of Evolution will be momentous for the network. By radically introducing features that first and foremost place clients at the fore, Dash settlement speed will sharply improve while simultaneously boosting security. That will be on top of blockchain user names and contact lists replacing cryptographic hashes that are complex, slowing down adoption.

Candlestick Arrangements

Dash

Currently, Dash is languishing at 16th with a market cap of $1,365 million, adding a mere 5.4 percent week-to-date. Nevertheless, like most crypto assets, there is an overall recovery in price. Trading in a bullish breakout pattern, Dash bulls in the driving seat. Thanks to the dips of late May and early June, the retest phase is complete.

Marking the rebound is a three-bar bull reversal pattern of June 3rd through to June 10th. With increasing trading volumes, bears were slowed down. Because of this, there is an opportunity for traders to buy the dips while aiming at $180.

Fitting safety net will be at $140. On the other hand, conservative traders can wait for clearance of May high at $180. Once that prints out, traders can flow back with a modest target of $215.

Technical Indicators

In light of the above, any break above $180 ought to be with high participation. As a result, the May 25th inverted hammer anchors this trade plan. Behind the rejection of higher prices are high trading volumes of 6k.

Therefore, confirmation of buyers should be with equally high trading volumes lifting prices above $180 to $215 in a buy trend continuation.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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