Looking to profit from cryptocurrencies that may, perhaps, get $ 500? So keep an eye on these options
In late 2017 and early 2018 several altcoins followed Bitcoin in the four-digit price zone. The market performance of such currencies did not surprise the efforts of their respective teams and the functional use that gives them a meaningful evaluation. In this article, there are three cryptocurrencies with a good chance of reaching $ 500 by the end of the year.
Dash is a digital asset that uses decentralized payment solutions to offer everyone financial freedom. Its adoption rate in Latin America, specifically in Venezuela, has been massive, preparing good bases for the asset to rise to the moon. The main metrics recorded positive behavior in the first quarter of 2020, better than Bitcoin and Bitcoin Cash.
Average daily transactions recorded massive growth, doubling to 17,000 in the first quarter of 2019. In addition, installed mobile wallets tripled to 101,000 in the first quarter of 2020 compared to the same period last year. Flipside crypto classified the Dash project with “A”, since the fundamentals of the asset registered a growth of 4.17% and the market value increased 7.87% since the beginning of the year.
There was a 562% increase in active Android devices using the Dash wallet in Venezuela, causing the price to register a small growth compared to the previous annual low. Dash has already traded above $ 500 and, based on its positive statistics, it is likely to return to that price zone.
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Ethereum provides smart contract functionality and dApps with its decentralized application. There was fierce competition, as Cardano and Tron seek to dethrone Ethereum as a leader in smart contracts. However, Ethereum is about to upgrade to the long-awaited Ethereum 2.0.
Interestingly, its price seems to be struggling, but the underlying trend and key metrics in the chain are setting records. The total value blocked in DeFi has increased by more than 300% since the beginning of the year, registering more than $ 3 billion.
The weekly volume of DEX also increased to $ 500 million, with DeFi users rising to 300,000. Almost everything presented a positive trajectory for Ethereum in 2020. The price of ETH last reached $ 500 in July 2018, but market fundamentals suggest that the asset is highly likely to reach the price zone once again. this year.
Zcash, a decentralized and privacy-focused digital asset that offers options for transparent transactions, is another asset with a good chance of entering the four-digit price zone. During Zcash’s severe market downturn in 2019, it was said that the uncertainties surrounding the financing of Zcash developers have negatively affected the growth of the project. However, the Zcash improvement proposal was approved with the community agreeing to provide support to finance the development of the project.
For the continuous financing of the project, the reward for mining the blocks will be divided between the mining companies and the “Development Fund”, which has had a good impact on its price so far. Zcash’s performance in the first quarter of 2020 was positive, and the asset is expected to register a move to the $ 500 price level, as it did in the past.