Connect with us

Altcoins

Dash [DASH] enters Forex trading, now added on Evolve Markets

Priyamvada Singh

Published

on

Dash [DASH] enters Forex trading, now added on Evolve Markets
Source: Pixabay

On 18th July, Dash made a Twitter announcement of the cryptocurrency being added on Evolve Markets, where Forex and cryptocurrencies, both can be traded along with bets on stock indices and commodities, such as oil, natural gas, gold and copper.

Dash's recent tweet | Source: Twitter

Dash’s recent tweet | Source: Twitter

According to Evolve Markets’ official website listing, Dash will be paired against USD on the platform. Traders are permitted to leverage up to 50:1 of their cryptocurrency accounts with speedy withdrawals and low fees. ‘Metatrader 5’ is the name of the platform used by Evolve Markets.

The platform also pays attention to the security of customer funds. Practices such as manual review of Bitcoin withdrawals, keeping all the Bitcoin deposits in a cold storage, maintaining discretion of the private keys, encrypting data and using Google Authenticator for added security make Evolve Markets a secure platform for deposits and withdrawals.

Currently, the cryptocurrencies available for trading on Evolve Markets are Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], XRP [XRP], EOS [EOS], Litecoin [LTC], Monero [XMR], Zcash [ZEC], with Dash recently on board.

Despite Dash not being present on big cryptocurrency platform like Coinbase, Dash is witnessing acceptance in the overall picture of cryptocurrency trading. According to Dash’s official blog, the listing on Evolve Markets has proved its growing worth in the market.

The Dash network is also believed to be seeing an increased trading volume, as the demand for Dash grows in the market. Dash, in its official announcement, also added:

“This smooths out Dash’s volatility since market makers are constantly assessing the underlying and future value of Dash.”

As Dash gets added to more trading platforms, it will contribute to the diversification and liquidity of the cryptocurrency. This will boost a widespread adoption of Dash finally resulting in the decrease of volatility in prices.

When it comes to the expansion of Dash, it has a greater plan to spread its adoption in several areas, including the less common ones such as ATMs. Dash aims at diversifying the utility of the cryptocurrency to avoid its concentration in just one economic sector. Dash also conveyed:

“The incentives built into Dash’s DAO have focused development on the original goal of cryptocurrency to be a peer-to-peer digital currency for the average consumer through consistently low transaction fees, fast confirmation times, security, and user friendly interfaces.”

Dash has also observed a hike in its frequency of transactions for overall utility. This has been a major indicator in determining the ‘underlying value’ of Dash. The team also believes that Dash has already gained a considerable amount of merchant acceptance and sits high on ranks in ‘actual use’ or ‘everyday purchases’.

The current scenario of Dash also gives traders an ability to segregate the current use of Dash from speculative future use-cases. Dash is also believed to gain reliability and integrity among the user-base providing stability to the whole equation.

At press time, DASH is trading at $261.42 with a market cap above $2 billion. The 24-hour hike in its price is 5.93% at a trading volume of about $258 million.



Follow us on Telegram | Twitter | Facebook



Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Trending

Subscribe to AMBCrypto's Newsletter