From the candlestick chart, DUSK's current situation is indeed not very optimistic—MACD death cross, shrinking trading volume, short-term moving averages continuously declining, and the entire chart illustrating what is called a "downward channel." But this is also what makes the crypto market most interesting—reflexivity can at any time challenge technical analysis. DUSK is very likely standing at such a turning point.

Two catalysts are brewing. The mid-January launch of the Dusk-EVM mainnet is not just a version update but more like a starting gun for the ecosystem. Over 50 projects are already preparing to migrate or deploy, including many players from traditional finance circles. Looking further ahead, the launch of the DuskTrade platform in 2026 is designed as a compliant trading platform targeting institutional clients, aiming to truly connect the liquidity of traditional securities and crypto assets.

On-chain data tells the truth. Although the price is adjusting, the liquidity pool of DUSK on a certain DEX has deepened by 40%. Market makers have not withdrawn; instead, they are increasing their positions. The staking participation rate is even more impressive—already reaching 68% of circulating supply. This high lock-up rate naturally results in supply tightening.

Looking at the funding rate, it is already extremely negative, indicating that short sellers are paying a heavy price. It’s like a tightly wound spring—once there is an unexpected technical breakthrough or partnership announcement, the rebound could be very strong. The options market is also hinting at something—call options expiring at the end of January are significantly higher than put options, suggesting that funds are betting on a reversal.