Wake up, Bitcoin! Dash is decoupling
Happy holidays, dear readers!
One of the most trending topics on first Monday of 2020 was John and his...
Well, I guess, dissecting McAfee doesn't make much sense, so I'm going to share a look into DASH, one of noticeable assets decoupling from Bitcoin.
See it's price action?
In fact DASH is not the only one pushing upwards from BTC.
XRP, REN, KNC, XLM - all showing nice gains today.
Some say this pattern precedes Bitcoin move.
One has to look into the volumes to see the direction.
Most trading volume against BTC may mean we're heading up,
Most trading volume against stablecoins may indicate large players 'cashing out' before dump.
Most volume for DASH is in BTC pairs.
Getting back to this particular DASH action we can see a price/social volume divergence during last months.
An opposite picture usually slows the price down.
This time social volume even had anomalies detected when price bottomed.
What's inside chats about DASH on Monday?
Most talks take place on Telegram and in professional traders chats. Discord and Twitter users like doesn't care. Proof - Santiment Social Graphs.
Another noticeable thing around DASH is it's devactivity:
Blue line - development activity, red bar is when DASH released a platform on Evonet, the public testing environment for Evolution features.
Devactivity spiked immediately after the release. And before the price action.
Which perhaps mean they precisely developed this platform, then faced a significant number of issues upon release.
A platform can be used in tandem with Ethereum dapps as a decentralized database by the way. More details in Dash blog.
That's about it for now.
Best wishes for ones still having holidays ahead!
P.S. Have you noticed we can chat in comments below? ⬇️