According to on-chain data, DUSK's circulating tokens have surpassed 70% of the total supply. What does this number indicate? Most of the tokens held by early investors, the team, and the foundation have already entered circulation. The unlocking periods that lasted for months have basically come to an end, and the pressure on the supply side has been alleviated.

The question is—will the selling pressure continue? It probably depends on the actual performance of the ecosystem and the participation of institutional investors with real capital. Relying solely on unlocking schedules won't create new strategies; the true driving force behind token liquidity must return to product application and market demand. The most difficult phase of supply pressure? Over 80% of it has already passed.