Dash added to world’s largest digital asset exchange, Bitfinex

Dash, the rising alternative to bitcoin, is being added to the world’s largest digital asset exchange by USD, Bitfinex. The platform addition comes into effect at 1pm EST today, allowing traders to make online buys and sells between the third most valuable cryptocurrency, USD and bitcoin (DASH/BTC & DASH/USD). Dash is currently undergoing a historic […]

Dash, the rising alternative to bitcoin, is being added to the world’s largest digital asset exchange by USD, Bitfinex. The platform addition comes into effect at 1pm EST today, allowing traders to make online buys and sells between the third most valuable cryptocurrency, USD and bitcoin (DASH/BTC & DASH/USD).

Dash is currently undergoing a historic rise in value. Previously one of the most stable coins, Dash began the year at $11 per and is now trading at $44 per coin. From January 1st to today, trading volume is up by a staggering 22x, and Dash’s market cap has zoomed to over $320 million USD, more than double that of every digital currency except Bitcoin and Ethereum.

Dash VP of Business Development, Daniel Diaz said, “The partnership is recognition of the way the market has been responding to Dash’s vision and roadmap. I am a firm believer that the free market will always recognize true value when growth and performance is sustained over long periods of time. Partnering with Bitfinex is a very important step for Dash as we look to provide good, regulated on and off ramps to the network that really make user applications easier. Dash is in a transition towards the regulated fiat exchanges that will make it a lot easier for users and investors to move in and out of the Dash economy, which will reduce friction and allow Dash to trade directly for fiat currencies in the more popular exchanges in the blockchain industry.”

While the entire industry has continued on an upward trajectory this year, Dash is growing at a much faster rate than any other digital currency. In 2017, Bitcoin’s price is up 22% and Ethereum’s is 57%; however Dash has experienced the strongest growth by far, up 295% and peaking at $60 USD per coin on March 2. Driving Dash’s phenomenal surge is the implementation of its large-scale software upgrade, several strategic business partnerships and the impending rollout of an industry-first decentralized payments system called Evolution.

Diaz continued, “The Dash project has shown focus in what is most important for the users; fast, reliable and cost effective transactions. Dash also has a well defined software development roadmap and a strong business development pipeline; the combination of these things has led to a surge in popularity and has naturally attracted the attention of the largest exchanges in the blockchain industry.”

Bitfinex, headquartered out of Hong Kong, has the most liquid order book in the world and is one of the most popular marketplaces for altcoin trading, moving over $50 million USD every 24 hours. Founded in 2012, Bitfinex also offers leveraged margin trading through a peer-to-peer funding market.

Bitfinex Chief Strategy Officer Phil Potter said, “Bitfinex is extremely excited to be adding Dash to our exchange. Dash is currently experiencing its breakout moment right now and we want to be able to provide our growing customer base with seamless access to one of the rising stars in our space. Bitfinex prides itself on being the world’s largest digital asset exchange by USD. We expect an incredibly strong market for Dash and we look forward to a tremendous partnership with their team.”

Dash is currently the third most traded coin. Until now, most of its 24 hour trading volumes, averaging around $50 million USD, occurred across Poloniex and BTC-E.

“Anyone that has been in the digital currency space long enough knows that one of the most difficult things in crypto still today is getting access to coins. Our users will be thrilled to have more options to buy Dash directly without having to go through other digital currencies, making interaction with our blockchain even more friendly,” Diaz said.

Read this next

Industry News

The B2Broker B2Core REST API Is Now Live

B2Broker has announced the release of its new REST API, which lets customers use B2Broker’s solutions and services for business purposes.

Executive Moves

CME Group taps Paul Woolman to lead Equity Index, Giovanni Vicioso to lead Crypto

“Our equity and cryptocurrency businesses have experienced tremendous growth in recent years, underpinned by strong customer adoption and continued innovation.”

Technology

Sumsub launches document-free KYC for users in India, Brazil, Nigeria and Indonesia

Sumsub has launched one click-KYC for users in India, Brazil, Nigeria and Indonesia in a move that allows businesses to instantly onboard over 2 billion users without requesting their ID documents.

Digital Assets

Cboe becomes first major global exchange operator on DeFi data platform, Pyth Network

“Our participation in the Pyth network will provide another avenue to broaden customer access to our data, and aligns with our strategy to deliver market data to investors around the globe based on how they want to consume their data, whether through direct connectivity methods, the cloud or the blockchain.”

Industry News

FINRA fines Barclays Capital $2 million for best execution failures for 5 years

FINRA has fined Barclays Capital $2 million for failing to comply with its best execution obligations in connection with its customers’ electronic equity orders between January 2014 and February 2019. 

Digital Assets

SETL helps SWIFT, CSDs and custodians develop common framework for tokenisation systems

London-based enterprise DLT and blockchain company SETL has delivered a pilot project for SWIFT which implemented a common framework linking tokenisation systems between central security depositories (CSDs) and global custodians.

Digital Assets

Crypto volumes hit CHF 87.1 million at Switzerland exchange

Switzerland’s principal exchange has experienced a rebound in trading activities for September 2022, with monthly volumes increasing by more than 20 percent MoM.

Digital Assets

Bitcoin Suisse Vault taps Polkadot governance features

Bitcoin Suisse has added support for Polkadot protocol governance on its proprietary, hyper-secure cold storage solution, the Bitcoin Suisse Vault.

Retail FX

Finalto sweetens offering for African traders with localized FX pairs

Finalto, the financial trading division of Gopher Investments, announced today that it has extended its offering with inclusion of a number of African Pairs to its trading platforms.

<