For DUSK, 2026 has become a year of truth. Having quietly laid the groundwork for compliance infrastructure at the foundational level, now it’s time to see if it can truly open up the market. Transitioning from "having technology" to "having users and capital," everything depends on the results of this year's implementation.

I believe DUSK currently holds three key cards.

The first is the mainnet upgrade. Core components need to go live in the first quarter, including an optimized DEX and cross-chain bridging solutions. These must operate stably under real transaction traffic; otherwise, even the best design won't attract users and capital.

The second is the implementation of NPEX partnerships. The €300 million security tokenization project can't just stay in press releases; it must be reflected in ongoing on-chain transaction data. This will be the litmus test for whether its compliance framework can truly work.

The third is institutional capital. In 2026, institutional funding in the blockchain space could reach 70%, with RWA becoming a key track. Whether DUSK can attract this "smart money" through its existing technological accumulation and established collaborations is crucial.

Of course, risks must also be clearly understood. Competition in the privacy and RWA tracks is intensifying, and institutional capital has high requirements for ecosystem maturity and liquidity depth. However, DUSK does have its own moat. Its compliance framework has been recognized by regulated exchanges, and the combination of zero-trust custody and cross-chain technology forms a differentiated competitive edge.

Currently, DUSK’s price has risen to around $0.13, a recent high. If the mainnet upgrade progresses smoothly and collaborations exceed expectations, the upside potential could indeed be unlocked. But on the other hand, investing still requires caution; using small amounts to test the waters is smarter. Focus on new developments in on-chain activity and institutional partnerships, and avoid blindly chasing high prices.