Last week, more than 25 members of the leading development team behind Zcash resigned, triggering a major shift in focus across the privacy coin space.
As confidence in Zcash wavers, attention has quickly turned to alternatives with Dash emerging as a top contender.
This shift in sentiment has sparked a surge in trading volumes, supporting a bullish Dash price prediction as more investors look for privacy-focused projects with stability and momentum.
Josh Swihart, former CEO of the Electric Coin Company (ECC), stated that the resignations stemmed from ongoing conflicts with Bootstrap, the non-profit tasked with overseeing the team’s work.
Swihart emphasized that there was a “clear misalignment” between the top priorities for Bootstrap and ECC that prevented the team from being able to do their job.
The news triggered a steep decline in the price of ZEC. At the time of writing, its 7-day losses currently sit at 17%.
In contrast, DASH has booked a 74% gain during this same period, as the market seems to have rotated toward this token and Monero (XMR) in response.
Zcash was one of the top-performing assets last year with an 827% gain. If that same buying interest rotates toward DASH, that could propel its price to levels not seen in years over the next few weeks.
Dash Price Prediction: DASH Eyes $250 After Bullish Breakout
DASH’s trading volumes have more than doubled in the past 24 hours alone, currently accounting for 130% of the asset’s circulating market cap at $1.2 billion.
Source: TradingViewThis indicates that buying pressure has accelerated dramatically, causing a massive short squeeze that could keep unfolding over the next few days.
The daily chart shows that DASH has been going up for three days in a row and has broken a key resistance at $58 with strong volumes.
This sets the stage for a potential breakout, with targets at $125 and $250, offering up to 233% upside in the weeks ahead.
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Visit the Official SUBBD Website HereThe post DASH Price Prediction: Zcash Collapses as Developers Quit – Are Traders Fleeing Straight Into DASH? appeared first on Cryptonews.
