#dusk $DUSK @Dusk

Dusk is often described as a privacy chain for regulated finance, but the more interesting story is how people are actually using it right now.

On-chain behavior shows a clear preference for transparency. Over the last 24 hours, the network processed roughly 164 transactions, with well over 95 percent routed through Moonlight, the transparent and compliance friendly environment. Only a handful used shielded privacy. That is not a privacy culture problem. It is a design signal. Users are treating Dusk as a settlement layer where auditability comes first and confidentiality is optional, not default.

At the same time, the DUSK token is far more active in markets than in confidential execution. Daily trading volume has recently sat in the $10 to $13 million range, while the ERC20 version still sees hundreds of transfers per day across ~19k holders. Capital is clearly rotating around the asset, even as core privacy usage remains minimal.

This gap matters. It suggests Dusk is currently valued for what it could become rather than what it is already monetizing. The real transition will not be higher transaction counts alone, but a visible rise in shielded contract usage and fee-generating institutional workflows.

Takeaway: Dusk today is behaving like a compliance-first financial rail with dormant privacy capacity. Until that privacy lane starts filling with real economic activity, DUSK’s valuation will remain driven more by liquidity and narrative than by on-chain demand.