Dash Led Kraken’s Broad January 5 Advance as Bitcoin Held Near $7,400

Kraken’s January 5, 2020 market report showed a broad but uneven advance across the exchange: bitcoin’s volume-weighted average price was $7,413, up 1.03% over the report’s 24-hour measurement window, while Dash rose 11.3% to $51.60 and Monero gained 7.90% to $54.10.

The move mattered less as a new bitcoin breakout than as evidence that the cryptocurrency market’s January 3–5 rebound was spreading beyond its largest asset. On Kraken, 16 of the 20 assets displayed in the January 5 report had positive returns, one was unchanged and three declined. That breadth coexisted with a highly concentrated trading market in which bitcoin still dominated turnover.

A broad rise, led by smaller assets

Ethereum increased 2.13% to $136.90, XRP rose 1.82% to $0.1958 and Litecoin advanced 2.03% to $43.65. Ethereum Classic and Augur’s REP each gained more than 5%. Dash and Monero were the clear leaders among the higher-volume assets shown, while Bitcoin Cash slipped 0.21%, Dogecoin fell 2.24% and Melon declined 2.74%.

Kraken reported $49.4 million traded across all markets during the 24 hours ending at approximately 1 p.m. Pacific time on January 5. Bitcoin accounted for $33.2 million and ether for $6.62 million. Coinburn calculates that those two assets supplied about 80.6% of the stated exchange-wide turnover. Dash recorded $969,049 and Monero $680,965, together only about 3.34% of the total.

That contrast is important. The largest percentage moves did not carry the largest dollar flows. A double-digit return in a smaller market cannot be read as the same amount of demand as a 1% move in bitcoin.

The rebound began before January 5

Kraken’s adjacent reports show the sequence. At the exchange’s January 3 snapshot, bitcoin was $7,320 after a 5.43% daily gain, with $97.2 million of bitcoin volume and $126 million across the exchange. On January 4, bitcoin was $7,337, up 0.23%, while total turnover fell to $50 million. By the January 5 snapshot, bitcoin was only about 1.27% above its January 3 snapshot price, calculated from $7,413 and $7,320.

Dash followed a different path. Its Kraken snapshot price rose from $43.70 on January 3 to $46.40 on January 4 and $51.60 on January 5. Coinburn calculates an 18.1% increase between the January 3 and January 5 observations. That is a point-to-point comparison of Kraken’s volume-weighted prices, not a universal market return.

A contemporaneous CoinCodex weekly review independently described a market recovery from an estimated $185 billion total capitalization on January 2 to roughly $200 billion early on January 5. It also reported bitcoin above $7,450 during January 5 before a pullback. Those are provider snapshots with different coverage and cutoffs, so they should not be spliced into Kraken’s series as if they shared one methodology.

What the record can and cannot establish

Kraken’s surviving methodology page, consulted in 2026, says its report was sent at approximately 2 p.m. Pacific time; price was the volume-weighted average across all Kraken trading pairs for an asset, and daily volume covered the preceding 24 hours as measured at approximately 1 p.m. Pacific time. The January 5 report included crypto pairs and markets denominated in euros, U.S. dollars, yen, Canadian dollars and pounds.

Accordingly, $7,413 was not a global bitcoin close, and $49.4 million was not global crypto volume. Cryptocurrency traded continuously across many venues, with no single official closing auction. CoinCodex’s broader figures corroborate a rebound, but their snapshot timing and constituent-exchange methodology are not fully specified in the surviving article.

The defensible January 5 conclusion is narrow: Kraken recorded a broad advance, led in percentage terms by Dash and Monero, while bitcoin and ether generated four-fifths of the venue’s turnover. The data show market breadth and concentration—not the cause of either move.