The Dash price rose to over $360 in the early hours of today’ trading, but the rally was short-lived and the privacy-focused cryptocurrency retreated to lower levels.
Dash reached an all-time high of $409.77 on Saturday, according to data from cryptocurrency tracker Coinmarketcap. On the same day the digital currency’s daily trading volume rose to a record level of $267.4 million. The price also flirted with $400 on Sunday, before sliding towards the $350-$360 area, which it currently occupies.
Despite the fall, Dash’s performance in August has been impressive, given that it started the month at around $180. Most of the gains occurred in the last 10 days after a big surge pushed its price over $300 for the first time ever.
In a recent interview with Business Insider Australia, Dash Core’s chief executive officer Ryan Taylor said that the token’s recent price rally had been driven by rising demand from Asian markets
“High trading volumes are attracting exchanges throughout Asia to inquire about adding Dash trading pairs, so I think we’re only witnessing the beginning of the growth coming from that region,” he said, as quoted by Business Insider.
According to Coinmrketcap, Dash’s 24-hour trading currently stands at $47.5 million, with South Korean exchange Bithumb accounting for nearly 28% of the global market activity.
In today’s trading, the Dash price stood at $358.35, as of 16:20 BST, slightly up from the same time yesterday. The cryptocoin currently has a market capitalisation of nearly $2.7 billion, which makes it the sixth-largest digital currency on the market.
For further information on how to buy and trade Dash, see our comprehensive Dash guide.