Kraken added Dash to its trading platform. Traders could exchange the cryptocurrency for dollars, bitcoin, or euros, with margin trading possibly arriving later. At the time of listing, Dash ranked as
Kraken added Dash to its trading platform. Traders could exchange the cryptocurrency for dollars, bitcoin, or euros, with margin trading possibly arriving later. At the time of listing, Dash ranked as the fifth most valuable cryptocurrency, with a market capitalization of roughly $479 million.
The coin experienced extreme price swings in recent months. In early February, DASH traded around $15 per coin. By March 18, it had climbed to an all-time high near $114, representing a 660 percent jump. By publication time, the price had settled around $66.
Dash launched in 2014 under the name Darkcoin. The network functions as an open source peer-to-peer cryptocurrency offering both privacy protections and instant transactions. The Dash protocol operates without central authority. The network funds its own development and members can propose improvements for others to vote on. The protocol limits the total coin supply to 22 million, with roughly 7.22 million currently in circulation.
Daniel Diaz, vice president of business development for Dash, expressed enthusiasm about the partnership. "We have high expectations for the partnership going forward," Diaz said. "This is a significant achievement for Dash because our ecosystem needs high quality and trustworthy exchanges like Kraken to thrive, and we know they will play an important role as a fiat gateway."
Kraken launched in 2011 and now operates across Canada, Japan, the United States, and Europe. The exchange handles more euro-denominated bitcoin trading than any other platform globally. Beginning in early 2016, Kraken pursued an aggressive acquisition strategy to expand its market position. The company bought North American exchanges Coinsetter and Cavirtex, along with the Dutch exchange CleverCoin. Kraken also purchased Glidera, a wallet funding service based in the United States. In March, the company acquired Cryptowatch, which provides charting and trading tools, and announced that an upgraded trading interface would arrive soon.
Diaz characterized Kraken as a top-tier operator. "Kraken is an incredibly well established and well structured organization, and amongst the best in the exchange business. In terms of reputation, they represent the highest standard for client satisfaction," he said.
Dash is developing Evolution, a major software upgrade intended to bring cryptocurrency to mainstream users. The system charges merchants minimal fees and enables instant payments through a banking-style interface. Users earn interest on their accounts and can access an integrated marketplace. Consumers can connect directly with merchants to make and rate their purchases. Every merchant that integrates Dash becomes searchable on the blockchain. Dash plans to release an alpha version of Evolution by year end.
