Dash climbs above $100 as privacy-token rally broadens

Dash, a privacy-focused cryptocurrency, has climbed sharply in recent days and weeks, rallying by more than 385 percent over the past month and posting intraday gains as large as roughly 70 percent, according to market data. The token’s surge has pushed prices above the $100 mark to levels not seen since 2022 and has made Dash one of the best-performing assets in a market otherwise dominated by losses in top tokens.

Traders and chart analysts point to a broader move into privacy-focused coins, led by a recent breakout in rival Zcash, as the immediate catalyst. Technical studies show Dash is testing the upper boundary of a long-running descending channel that dates back to 2017, a setup that, in Zcash’s case, preceded a rapid multiweek advance. Dash’s relative strength index has reached elevated readings near 79, while the Chaikin Money Flow indicator has posted an uptick, signaling strong capital inflows and rising liquidity.

Derivatives and on-chain metrics also reflect heightened interest. Open interest in Dash derivatives has risen markedly, and trading volume spiked, with one data snapshot showing a 32 percent daily increase to about $1.38 billion. Exchange data and...