Dash has been added to the newly-launched Bitcoin.com cryptocurrency exchange including Bitcoin Cash trading pairs.
— DASH (@Dashpay) September 2, 2019
Announced this week, Bitcoin.com, the popular consumer-focused Bitcoin and Bitcoin Cash website, announced the launch of a new cryptocurrency exchange on the platform. This includes several trading pairs with top popular cryptocurrencies, and notably allows users to trade against Bitcoin Cash as a base pair. Dash is among the coins supported by the exchange, and trading pairs have already been announced to be open, offering a new opportunity for cryptocurrency traders to acquire Dash.
Bitcoin.com’s exchange comes as only the latest in a series of on-ramp integrations for Dash added in the past month. Since the beginning of August, Dash has been added to the Mexican exchange Cubobit, Hong Kong-based exchange BitOffer including InstantSend support, and SwapSpace instant exchange marketplace. Additionally, Dash-supporting Bitnovo added thousands of additional locations in Portgual, while peer-to-peer exchange CoinCola added support for Dash trading with Nigerian naira. Finally, Uphold was added to the Dash iOS wallet, joining a previous Android integration of the service facilitating users buying and selling Dash easily directly in the wallet.
Chipping away at Bitcoin’s dominance as the standard base trading pair
The addition of an exchange to Bitcoin.com’s offerings adds to the list of services and exchanges with base pairs other than Bitcoin. At present, Bitcoin remains the most established cryptocurrency, which is reflected in exchanges frequently maintaining fiat currency trading pairs only with Bitcoin, which is then paired with all other cryptocurrencies offered. This solidifies Bitcoin’s value as a point of entry into the ecosystem and establishes valued liquidity and utility, in many ways outweighing its technical shortcomings of high fees and slow confirmation times. This trading dominance has made the rise of a true competitor in the space difficult.
PSA: On Monday September 2nd @rogerkver will launch a new exchange on bitcoin(dot)com.
Will it be more successful than MtGox? Will it be safe? Will you use it? What do you think about it?
— Bitcoin (@Bitcoin) August 30, 2019
At time of writing, Bitcoin remains second in 24-hour trading volume according to CoinMarketCap at $12.75 billion, behind US dollar-based stablecoin Tether at $14.9 billion. Bitcoin Cash ranks at just over $1 billion, which Dash remains at $177.57 million.
New market entrants with different base pairs as a potential threat to the establishment
The addition of a new high-profile exchange with alternative base pairs may be perceived as a threat by more established players. The @Bitcoin Twitter handle, historically and vocally pro-Bitcoin Cash, recently experienced an abrupt narrative change, expressing views and sharing content closer to the Bitcoin maximalist point of view. Included in this has been a recent tweet about the new (then upcoming) Bitcoin.com exchange, uploading a video from CEO Roger Ver which took place before the infamous Mt. Gox exchange collapse, in which Ver expressed he believed the exchange to be solvent. In so doing a clear message of distrust and opposition to the new exchange was communicated.