Dash's network stats show usage growth, but technical patterns estimate a correction

Dash's blockchain analytics show network growth.

According to Morrison, the Dash Foundation's main objective is for its native cryptocurrency to become a medium for daily transactions.

Based on IntoTheBlocks´s In-Out of the Money indicator, around 227,260 addresses bought Dash at an average price of $73.75 and another 128,840 addresses bought it at around $93.59.

Due to the recent bullish impulse, Morrison affirmed that 47 percent of Dash holders were able to recover considerably and are now In The Money.

Approximately 85 percent of all Dash holders are actually retail investors that own less than 0.1 percent of the circulating supply.

Dash's community is also expanding as more active users continue adding nodes to its network making mining more difficult over time.

Following the 256 percent upswing, Dash reached an exhaustion point.

The 200-three-day moving average seems to be serving as a significant resistance level containing the price of Dash from a further advance, based on the 3-day chart.

A spike in demand for Dash that allows it to close above the 200-three-day moving average could jeopardize the bearish outlook.

These set of features make Dash a very robust cryptocurrency "With a strong focus on speed, privacy, and near-zero transaction fees." And, since the network operates as a self-governing and self-funding model, it is guaranteed that 10 percent of the mining rewards goes back to the Dash Foundation to fund improvements on the protocol.