Why is Dash doing so well despite being having been instamined?

Why is Dash doing so well when the developer instamined it at the start? There is a low number of total coins mined (7 million), but no cap for maximum coins. Dash was cheap before the May crypto boom, but has faired the recent drop better than other coins. It has nice new features like MasterNodes, PrivateSend, and Instasend. Does Dash have very large long term backers?

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