One of the top-5 most valuable digital assets by market cap, Dash, is in another major price uptrend after the announcement that one of the world’s largest cryptocurrency exchanges, Kraken, would support Dash.
Starting Wednesday, April 12, Kraken’s customers can exchange Dash for BTC, USD, and EUR. Kraken will also add support for normal and instant-send withdrawals with fees of 0.0005 and 0.01 DASH.
Dash has recently experienced a huge surge in price and trading volume, notes the
official announcement from Kraken. In just three months, the price of Dash surged from about $13 USD up to its maximum price of $116 USD per DASH on March 18, 2017. Now, on Thursday, April 13, Dash’s price is at the level of $70 USD per DASH and its price has been growing since the announcement from Kraken.
“Dash is up 17% today. Increased exchange support generally does result in an increase of value in such situations. We are assuming similar for Ethereum. 796.com added ETH support today, price shot up over 10%.”
Blockchain researcher of Life Liberty Trail Tone Vays also commented to Coinidol.com:
"Kraken is in the business of profiting from trading fees. As long as there is enough speculation to buy and sell a token, they and any other exchange will consider adding it. It does nothing in regards to making this token any more or less useful for actual users (if there are any in the case of Dash). What we have seen from most of the Bitcoin exchanges in the last few years is a trend towards Cryptsy like functionality, and most of them will end the same way."
Daniel Diaz, VP of Business Development at Dash, said:
“As the leading exchange in the Euro market, Kraken’s global reach helps Dash successfully meet the needs of our users and investors. The entire integration experience was very positive and we have high expectations for the partnership going forward. 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.”