• Market Cap
    $369.133B -0.98%
  • POW Market Cap
    $281.716B 4.46%
  • POS Market Cap
    $19.043B -0.16%
  • Masternodes Market Cap
    $1.201B 0.81%

Dash Hashrate Soars to All time High

By Rafał - 2019-05-01

Despite floundering prices, the hashrate on the Dash network has soared to an all time high in April beating that of November which until now was the leading month for infrastructural investment in the network.
This shows that there has been increase in investment in the network since last year November when the network had 3.237 petahashes. According to data from Bitinforchart, the April hashrate is 3.2385 petahashes.
This is despite the fact that the market price is currently lower at $124 in April than in November when the coin exchanged hands at $154.
 

New #Dash ATH #Hashrate#DigitalCash #Crypto #Mininghttps://t.co/66AqTgspvP pic.twitter.com/DnUFjWmgWW

— DASH (@Dashpay) April 29, 2019
 
Historical data has shown that the price of Dash has had little effect on the growth of its hashrate contrary to expectations. This could be due to the confidence that the investors have on the network as the premier masternode.
The Dash hashrate has remained quite stable since 2017 when the price of cryptocurrencies peaked. Increased hashrate has the effect of reducing the reward individual miners receive since it reflects that there are more mining investments causing more miners to share the fixed reward.
With the price of Dash down 95 percent since its all-time-high, it is obvious that many miners are mining at a loss in the interim but are holding on because they are aware that the long-term outlook is good.
DASH hash rate vs price
source: Dashnews.org
What increased is not only the hashrate of the network, the number of masternodes on the Dash network has also increased. There are presently 4,837 masternodes which is still lower than 4,912 masternodes obtainable in February. However, with the consistency in the interest of investors, it is likely that the network would continue to grow in all ramifications.
The reduced number of masternodes is attributable to the recent upgrade to Dash 0.13 which knocked off many masternodes that are yet to upgrade to the new version. With upgrades, we would see higher numbers and possibly even more entrants to the network.
In a nutshell, the Dash network has continued to make progress despite the bear market making all stakeholders optimistic that the prospects are good and recovery certain.