DASH is going through a period of uncertainty after detecting various hidden risks of the DASH cryptocurrency according to data collected this January 20, 2026. The reactivation of old supplies and a massive concentration of whales mark a red alert for current market investors involved.
For the financial sector, the movement of assets that remained immobile for years usually precedes deep corrections in the market price. During the past month of November, unusual activity was observed in old wallets that, according to analysts like João Wedson, mimics the behavior of late bullish cycle phases. The Coin Days Destroyed metric, which multiplies volume by inactivity time, has shown alarming spikes in recent technical charts.
This phenomenon suggests that long-term holders, who possess deep knowledge of the asset, could be starting a massive distribution phase today. Although reactivation has slightly decreased in recent days, selling phases usually last for several months before completion. In this way, bearish pressure accumulates silently, while retail investors could be caught in a dangerous liquidity trap.
The dangerous accumulation of supply in the hands of large whales
On the other hand, the governance and ownership structure of cryptocurrencies like DASH has shown a worrying trend toward centralization. Currently, the 100 wealthiest addresses control more than 41% of the total supply, a concentration level not seen in ten years. This increase is notable, especially when compared to the 15.5% recorded when the asset reached its previous all-time high.
When such a vast portion of the supply depends on few actors, market stability becomes extremely fragile for all users. A coordinated movement or even an individual sale by these whales could collapse the asset’s order book completely. Therefore, the excessive dependence on the trust of these large holders represents a structural vulnerability for the DASH ecosystem.
Could the 180 million dollars open interest trigger massive liquidations?
Likewise, the derivatives market reflects a risk exposure that has exceeded all historical records of the project. Although the price is around 150 dollars, open interest reached 180 million dollars recently. This figure doubles November levels, indicating that leverage on platforms is extremely high at present for traders.
Finally, capital flow seems to be shifting toward privacy projects with smaller market capitalizations. However, this rotation weakens DASH’s support, as investors look for opportunities with higher upside potential. Therefore, the coming days will be decisive in defining whether the asset manages to absorb excess debt or succumbs to a correction.
