$BTC

DASH, originally named Darkcoin, focuses on anonymous payment features and was once highly regarded for concepts like master node networks and instant transactions, with its price soaring to the thousand-dollar level. However, the coin's anonymity attribute has gradually been exploited by manipulators, turning it into a tool for harvesting profits.

The computing power of DASH has long been highly centralized, with a few large nodes controlling over half of the power, giving them the ability to manipulate block transactions and influence coin prices. In the bull markets of 2017 and 2021, manipulators first promoted the leading anonymous payment track and institutional heavy investment through community hype to attract retail investors to buy at high prices. Once the coin price reached a temporary peak, the manipulators concentrated their sell-off of chips while using their power advantage to create transaction congestion, making it difficult for retail investors to sell in time.

Additionally, the decision-making transparency of the DASH team is extremely low, with the master node profit distribution rules being modified multiple times without being disclosed to the community, resulting in the rights and interests of small and medium investors being harmed. Later, as regulations tightened on anonymous coins and technologies like the Bitcoin Lightning Network matured, DASH's core advantages gradually diminished. Manipulators took the opportunity to completely withdraw, and the coin price plummeted over 90% from its peak, leaving countless retail investors trapped and turning into bag holders.

This case also exposes the fatal flaws of centralized computing power and high regulatory risks associated with anonymous coins, becoming a typical case of concept speculation + manipulation in the cryptocurrency circle.