In late 2017 and early 2018, various altcoins followed Bitcoin in the four-digit price zone. The performance in the market for such coins was not very surprising when observing the efforts of their respective teams and the functional use that gives them a significant valuation. In this article there are three cryptocurrencies that have a good chance of reaching $ 500 by the end of the year.
Dash is a digital asset that uses decentralized payment solutions to provide financial freedom for everyone. Its adoption rate in Latin America, specifically in Venezuela, has been massive, preparing good reasons for the asset to rise to the moon. Key metrics recorded positive behavior in the first quarter of 2020, better than Bitcoin and Bitcoin Cash.
The average daily transaction recorded massive growth, which doubled to 17,000 from the first quarter of 2019. Additionally, installed mobile wallets tripled to 101,000 in the first quarter of 2020 from the same period last year. Flipside crypto rated the Dash project "A" as asset fundamentals posted 4.17% growth and a 7.87% market since the start of the year.
There was a 562% increase in active Android devices using the Dash wallet in Venezuela, causing the price to register slight growth from its previous annual low. Dash was trading above $ 500 once, and from its positive statistics, it is likely to bounce back in that price zone.
Ethereum provides smart contract and dApps functionality with its decentralized app. There has been fierce competition as Cardano and Tron seek to dethrone Ethereum as the leader of smart contracts. However, Ethereum is about to upgrade to the long-awaited Ethereum 2.0.
Interestingly, its price appears to be declining, but the underlying trend and core metrics of the chain are setting records. The total value blocked in DeFi has increased by more than 300% since the beginning of the year, registering more than $ 3 billion.
DEX weekly volume has also increased to $ 500 million with DeFi users increasing to 300,000. Almost everything has been on a positive trajectory for Ethereum in 2020. The price of ETH last touched $ 500 in July 2018, but higher market fundamentals suggest that the asset is very likely to hit the price zone once more this year.
Zcash, a decentralized, privacy-focused digital asset that offers options for transparent transactions, is another asset that has a good chance of entering the four-digit price zone. During Zcash's serious market pullback in 2019, uncertainties surrounding Zcash's developer funding were said to negatively impact project growth. However, the Zcash improvement proposal was approved and the community agreed to provide support by financing the development of the project.
For the continued financing of the project, the reward for block mining will be divided between the miners and the “Development Fund”, which so far has had a good impact on its price. Zcash's performance in the first quarter of 2020 was positive, and the asset is expected to show a move towards the $ 500 price level as it has in the past.