Weekend Update: Dash and Monero Explode to All-Time Highs

Investing, News | August 25, 2017 By:

The big news on the weekend was the price explosion for Dash and Monero, as both rocketed to all-time highs.

By 5 p.m. on Saturday, Dash was just under the $400 single-coin mark, a nearly 27 percent gain in the last 24 hours. Rumors that Dash may be involved in a television venture with cryptocurrency proponent Max Keiser may have caused the rapid inflation from what was, for the last few months, a rather placid stock.

Similarly, Monero went soaring on the weekend, up nearly 30 percent to just under the $140 mark, another all-time high. The forthcoming debut of the cryptocurrency on a Korean exchange was cited by many observers for the price increase on a coin that normally trades in the $45-$50 range.

On Friday, legacy bitcoin (BTC) was on the move, up nearly five percent at mid-day to the $4,400 level in single-coin pricing. It effectively retraced its path from the prior week and is once again near its all-time high. By the weekend, some of the steam came out of the engine, and BTC settled back to the $4,300 range.

The bounce may have come from the formal activation of Segregated Witness, which now has expanded blocks and should soon ease the transaction glut of the last week, wherein deals took days to clear.

Elsewhere on the cryptocurrency charts on Friday, the news was also good. Ethereum marched forward, hitting the $334 mark at mid-day, up strongly from Thursday. Bitcoin Cash (BTC) also had a green arrow day, up to $636 in its single-coin pricing.

Litecoin finally got back to the $50 level, topping at $51 after rising slightly higher earlier this morning. On Friday, Dash was up to $316, a nearly five percent gain, while Monero surged 14 percent to $97, continuing its week-long breakout.

The lone loser on the Friday was Ripple’s XRP, which continued its retreat after a huge early-week surge. Today’s XRP price stood at $0.217012, down nearly seven percent from yesterday.

The Block Tribune Volatility Index, which measures price swings in bitcoin, sat at BTVI 49.5 today, indicating a slightly below-average volatility.

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TODAY’S 24-HOUR BITCOIN STATISTICS

 

Bitcoin market highlights for the 24 hours ending August 26, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $4,566.66 on the LakeBTC exchange at 3:18 pm yesterday. LakeBTC saw $16,793,700 of bitcoin change hands.

The lowest price seen was $4,248.94 on Bittrex’s exchange at 11:12 pm yesterday. Bittrex’s 24 hour volume was $11,056,700.

The average price on the surveyed exchanges, as weighed by volume, was $4,324.50.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 42.7. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 10 different exchanges. It includes only USD/BTC trades and only on those exchanges that had at least 1% of the total volume of USD/BTC trades during the measurement period.