The privacy-focused cryptocurrency Dusk surged by more than 40% on January 19, reaching its highest level since the beginning of 2025, as traders shift their capital from major privacy coins like Monero and Dash to more modest altcoins, while derivatives data shows open interest reaching a record of 47.94 million dollars.
Rallying of privacy cryptocurrencies
The price of Dusk has more than quadrupled since the beginning of the year. The token has ranked among the top four cryptocurrencies by trading volume over 24 hours, only behind Zcash, Monero, and Dash.
Data showed that open interest in futures contracts across all platforms reached an all-time high on Monday. Open interest on Binance alone reached $20.54 million, a level not seen since February 2023.
Trading volume data indicates that the Dusk ecosystem generated $298.43 million in aggregate trading volume on Monday, a record as well.
The token was trading at $0.20 at the time of writing.
The project also announced on Monday a partnership with Chainlink to enable cross-chain interoperability for tokenized real assets, supported by NPEX, a regulated Dutch exchange.
Also read: Cardano Whales Accumulate $36M In ADA As Bullish Pattern That Once Sparked 32% Rally Returns
Selling pressure
Warning signs appeared alongside the rally. Arkham data showed that inflows to exchanges exceeded 6 million Dusk per day between January 16 and 17, their highest level in 30 days.
An increase in inflows to exchanges generally indicates that holders are preparing to sell.
The relative strength index (RSI) on the daily chart stands at 91, signaling extreme overbought conditions.
Dusk uses cryptographic technology based on zero-knowledge proofs and zk-SNARKs, which maintains the confidentiality of transaction data while allowing regulators to access the information needed for audits.
This distinguishes it from coins offering complete anonymity.
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