In late 2017, a number of altcoins followed Bitcoin towards the four-digit price zone. The market performance of such cryptocurrencies was not surprising given the efforts of their respective teams and the functional use that provided them meaningful valuation. In this article, we will tell you about three cryptocurrencies that have a high chance of reaching $ 500 by the end of the year.
Dash is a digital asset that uses decentralized payment solutions to give everyone financial freedom. The adoption rate in Latin America, especially in Venezuela, is enormous and this provided a good basis for the asset to rise. Looking at the key metrics, altcoin was more positive in the first quarter of 2020 than Bitcoin and Bitcoin Cash.
The daily transaction doubled from the first quarter of 2019, growing significantly. In addition, loaded mobile wallets increased to 101 thousand in the first quarter of 2020 compared to the same period of the previous year. Flipside rated the Dash project as “A” because its asset bases have grown by 4.17% since the beginning of the year and the market by 7.87%.
There was a 562% increase in active android devices using the Dash wallet in Venezuela, which led the price to grow slightly from the previous year’s low. Dash was once traded over $ 500 and is likely to return to this price zone again with positive statistics.
Ethereum provides smart contract functionality and dApps with its decentralized app. As the leader of smart contracts, Cardano and Tron lovers struggled to break Ethereum from his throne. However, Ethereum can rise with the much anticipated Ethereum 2.0.
Interestingly, the price of ETH seems to be stuck, but the underlying trend and key metrics in the chain are breaking records. The total value locked in DeFi has increased over 300% since the beginning of the year, exceeding $ 3 billion.
DeFi users rose to 300,000, while the weekly DEX volume rose to $ 500 million. Almost everything was in a positive orbit for Ethereum in 2020. ETH price last reached $ 500 in July 2018, but increasing market fundamentals show that the asset is likely to rise to the same price zone once again this year.
Zcash, a decentralized and privacy-oriented digital asset that offers options for transparent transactions, is another asset that offers the chance to enter the four-digit price zone. During the serious market withdrawal of Zcash in 2019, the uncertainties that financed the Zcash developers were said to negatively affect the project’s growth. However, the Zcash improvement proposal was approved by the community that agreed to provide support by financing the project’s development.
For the permanent financing of the project, the block mining award will be shared between miners and the “Giant Fund”, which has so far had a good impact on its price. In the first quarter of 2020, Zcash performance was positive and the asset is expected to move towards the $ 500 price level as in the past.