DUSK - Is there enough speculative juice to keep going?

Assets covered: DUSK

Metrics used: Price, Coin supply on exchanges, Social Volume, MVRV 7D


DUSK price action - Sanbase

DUSK's price action has certainly improved by quite a bit since the start of the year. The increase in trading volume as price increased is generally a healthy sign of bullish momentum.

Currently, it's making higher lows and looks like it's forming a symmetry triangle with decent volume as the market decides where to go next. Given that the prior trend was up, this triangle continuation pattern will too have an upward bias.

That is... if BTC does not flash dump and bring the entire market down with it.

Notable events

  • 9th April - Duskcon , speculators love a good conference in hopes that a surprise announcement hits.
  • 16th April - DUSK AMA with Binance , if AMA pumps is still a thing, it's likely we will see one during then or near it.

Supply on Exchanges

Supply on Exchanges - Sanbase

Supply on exchanges have increased significantly since the start of the year, however price has kept up with the increased supply on exchanges.

This is likely because a good amount of DUSK was used in Binance's Locked Savings Product instead of being sell pressure on the order books.

DUSK staking subscription - Binance

Based on the above schedule, we might see another surge in Supply on exchanges from 8th April 2021 onwards as the next batch of subscription opens.

That said, one could also argue that not all that went into exchanges were for subscribing to the locked saving product. Which then brings us to the question, are sellers exhausted?

As there's no significant spike since late Feb and price kept on pushing fourth.

Social Volume

DUSK social volume - Sanbase

While there are some spikes recently, DUSK mentions are still not over the top yet, suggesting that the crowd is not fully in yet. This lack of interest is leaves room for growth before a top is in.


MVRV 7D - Sanbase

DUSK's MVRV 7D (measures whether an asset is overvalued or undervalued) is sitting below the overvalued zone, indicating that most holders are still not in crazy profits which should incentivise them to hodl further.

Going forward

Price action suggests continuation of upward trend as long as BTC does not rekt the market altogether.

With 2 notable events ahead, that should provide enough juice for speculators to work with. It is likely we'll see more DUSK mentions as the crowd trickles in from the price action, until a local top is formed.

Thanks for reading!

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