Today, while browsing the trading interface, the DUSK candlestick suddenly shot up, with a nearly 17% surge in 24 hours. Since the beginning of the year, this thing has quadrupled in just over twenty days, and various voices in the community are praising it, saying it’s the most dazzling coin right now, which is not an overstatement. The screen is filled with FOMO emotions, but I always feel a bit uncomfortable looking at the market—this feast is getting a bit too lively.

Honestly, the story behind this wave of gains has been polished very smoothly. Recently, the privacy coin sector has become a safe haven in the market. When BTC and mainstream altcoins show weakness, veteran coins like Monero and Dash, along with the new face DUSK, are soaring against the trend. DUSK’s design logic is more interesting—it defaults to privacy but allows for audits, offering the convenience of anonymous transactions on one hand, while leaving room for regulation on the other, exemplifying a "both-and" approach. Recently, it also announced a partnership with major oracle providers like Chainlink, venturing into the real asset tokenization track, jumping from "privacy tool" to "financial infrastructure" narrative. Institutions might really be tempted by this.

But that’s where the problem lies. On-chain data has already started flashing red lights. At this critical moment of this big surge, the inflow of DUSK on exchanges suddenly spiked, which often signals something less optimistic. With such a hot market, can it really continue to burn?