Dusk is a bit like a hidden gem that has been quietly accumulating momentum since its mainnet launched over a year ago. The true execution year will be 2026, and I believe its price trajectory might follow these key nodes:

**Phase 1 (Q1-Q2): Range-bound oscillation and bottom-finding**
During the initial launch of the STOX platform, trading volume was still climbing, and institutions were observing when European regulatory frameworks would truly take effect. In this period, a range of $0.05-$0.12 is highly probable. Positive developments like updates to the DuskEVM toolkit and grants distribution will create several pulses, but these are likely to be suppressed by overall market sentiment. This is a good window for dollar-cost averaging or low-position accumulation.

**Phase 2 (Q3-Q4): The inflection point of rising volume and price**
After STOX integrates more NPEX assets, real cross-chain data traffic from Chainlink will be injected, and several European institutions will begin pilot on-chain settlement — during this time, gas consumption will significantly increase, allowing DUSK’s deflationary mechanism to truly demonstrate its power. Staking rates could climb above 40%, and the market will realize this is not just a story but backed by real transactions consuming tokens. The price could break through $0.20 and even push toward $0.5.

**Phase 3 (2027+): Infrastructure role in the RWA track**
If the MiCA framework continues to favor the industry, the European on-chain securities market will expand, and Dusk’s privacy and native compliance features will attract custodial banks and asset issuers. By then, DUSK will no longer be a niche token but a must-have fuel for institutions. Daily on-chain secondary market trading volume could surpass €100 million, with gas fees soaring and scarcity pushing prices to new heights.

Of course, risks exist — a slower market trend shift, regulatory delays, or sudden breakthroughs by new competitors could slow down the pace. But judging by the team’s track record, holder loyalty, and real-world application scenarios, Dusk has been honed long enough. Once it draws its sword, it should make a significant move.

What’s your view? Should Dusk continue to quietly accumulate, or prepare for a breakout?