If you ask me what has been the most distressing thing in the market over the past half month, I would definitely say:
DUSK.
It's not because it has risen, but because it has risen too 'reasonably', yet still left a bunch of people behind.
It has been grinding at around 0.05 USD for so long, and almost no one is willing to take a second look.
In just over ten days, it shot directly above 0.3.
When everyone comes to their senses, the K line has already risen.
But I want to say something that might not be pleasant:
If you are only studying DUSK after the price has risen, you are likely to make the same mistake in the next round.
Because the problem has never been on the K-line.
One, why do most people miss this kind of market?
I have seen too many similar scenes.
When the project is at the bottom:
“No heat”
“No traffic”
“Not sexy”
“Isn’t it just an RWA?”
Wait for the price to move:
“Is the institution pulling the market?”
“Will it be a one-wave flow?”
“Can I still chase after such a rise?”
In short, everyone is used to using short-term emotions to understand a long-term logic.
But DUSK is exactly that kind of:
No one is willing to listen in a bear market,
But once the wind direction is right, projects will be repriced by funds.
Two, is this round of rising really driven by speculative funds?
If you only look at the K-line, it is indeed easy to draw this conclusion.
But if you think a little, you will find that it is completely off.
What style is real speculative capital?
Fast, fierce, short.
Take a wave, smash it to those chasing highs, and leave.
They do not care about the narrative, nor do they care whether you agree.
But what has DUSK been doing recently?
Long-cycle content output
Systematic narrative groundwork
Continuous co-creation with mainstream platforms
Explaining 'RWA + compliance + privacy' round by round
This is not the play of speculative funds; this is the project team and medium to long-term funds 'educating the market.'
Education is for the larger undertakings that follow.
Three, where is DUSK truly underestimated?
Many people think of RWA as a new story.
But in DUSK, this is precisely the least 'story' part.
It is not something that just recently got involved with RWA,
But it has been working on compliance assets on the chain in Europe for many years.
If you look at its path, it becomes very clear:
Not doing airdrop narratives in Asia
Not shouting community slogans every day
But honestly connecting to the real financial system
Even directly participating in and holding traditional securities exchanges.
What does this mean?
Meaning it is not 'I might be able to do RWA in the future',
But it has already fought in this system.
At this point in time—
BlackRock, Fidelity, and traditional capital are all focused on RWA,
Such 'honest, compliant, and experienced' projects have become scarce.
Four, the token model is the engine of this round of market
I have always emphasized one thing:
Price rises must have 'locking logic' to go far.
The key to DUSK is right here.
Its tokens are not decorations hanging on PPT, but:
Essentials for network operation
The ticket for node participation
Compliance interactive consumables
Especially its consensus mechanism determines a real outcome:
If you want to participate in the network, you have to hold coins and lock coins.
When traffic comes in and attention rises, what will happen?
More people want to run nodes
More people are willing to hold for the long term
Circulation is being continuously absorbed
Demand is rising, supply is decreasing.
This is not emotion; this is structure.
Five, why does this wave resemble 'valuation return' more than a peak?
Many people see 5-6 times and their first reaction is:
“Is it at the end?”
But look at it from another perspective:
The same is L1,
The same is a public chain with a clear application direction,
Sometimes tens of billions of dollars in market value.
And after this round of rise of DUSK,
Still in a very restrained position.
More importantly, it is not stepping on short-term hotspots,
But it is a problem that institutional funds will eventually have to address:
Compliance
Privacy
Assets on the chain
This is not a story of 'can it be told to the end',
But it is a demand pool that will continue to expand as traditional funds enter the market.
Six, how should retail investors look at it now?
I won’t tell you to 'go all in' or 'jump in with your eyes closed.'
But I will say a very practical judgment:
A real big market often does not start and end with a surge, but unfolds from 'being understood by the market.'
What has the current DUSK just completed?
From 'no one cares',
To 'everyone starts to study seriously.'
This step is often just the first phase.
What is fought for later is not whether you dare to chase,
But whether you can hold on to it.
The last sentence
If you only see DUSK as a K-line that has risen 6 times,
What you see is always just emotion.
But if you put it in:
RWA main line + compliance trend + token lock structure
Looking at this big framework,
You will find that what is happening now is rather 'restrained.'
The market does not go crazy suddenly,
But it has finally started to make up for the pricing it owes for the past few years.
The rest is left to time.
