At 3:17 AM, the liquid in the coffee cup had long gone cold. Sitting alone in the study, eyes glued to the K-line, flipping through countless project documents, that state of mind reminded me of the obsession I had when I first entered the industry over a decade ago.

Outside, there was all sorts of noise, but in my mind, it was all about the essentials—BTC market trends, Layer1 privacy solutions like Piecrust VM, and the underlying logic of institutional-grade asset tokenization. Some people are already tired of these concepts, but in my eyes, these aren’t illusions or hype; they are tools tailored for global asset management giants. The combination of top-tier privacy teams and traditional compliance backgrounds ensures they won’t be mediocre followers but rather market shapers.

I placed the DUSK chart side by side with Mantra($OM), which was once trading at floor prices, comparing them millimeter by millimeter. The same downward rhythm, the same washout techniques, as if something enormous is breathing deep within.

The moment the two curves overlapped, a chill ran down my spine.

What you see is panic and risk, but in this astonishing overlap, I smell a fateful scent. Does history really not repeat itself? Perhaps the answer is written in these overlapping curves.