Tap to Trade in Gate Square, Win up to 50 GT & Merch!
Click the trading widget in Gate Square content, complete a transaction, and take home 50 GT, Position Experience Vouchers, or exclusive Spring Festival merchandise.
Click the registration link to join
https://www.gate.com/questionnaire/7401
Enter Gate Square daily and click any trading pair or trading card within the content to complete a transaction. The top 10 users by trading volume will win GT, Gate merchandise boxes, position experience vouchers, and more.
The top prize: 50 GT.

• Price: ~$0.0687 USD (stable with bullish undertone)
• Market Cap: ~$1.14B+ (Top ~#56 asset globally)
• 24H Trading Volume: ~$3.5B+ (exceptionally high turnover)
• Circulating Supply: ~16.6B NIGHT
• Max Supply: 24B NIGHT
This level of liquidity places $NIGHT alongside some of the most actively traded assets in the market, a notable achievement for a relatively new token.
KEY MARKET & ON-CHAIN OBSERVATIONS
Sustained High Volume = Structural Interest
The consistently elevated 24-hour volume suggests more than speculative spikes. Capital is rotating actively through $NIGHT, reflecting strong market engagement, institutional-sized trades, and broad trader visibility.
Rapid On-Chain Adoption (Not Just Price Action)
In less than a week, 133,000+ Cardano transactions have already interacted with the NIGHT token. This is a critical metric: it demonstrates real usage of Midnight’s privacy layer rather than passive holding or exchange-only activity.
Cardano Ecosystem Synergy Strengthening
Midnight’s deep integration with Cardano has been repeatedly highlighted by ecosystem leadership. With Cardano’s focus on scalability, privacy, and compliance-friendly design, Midnight is emerging as a key privacy-focused extension, positioning $NIGHT at the center of future ecosystem expansion.
Price Discovery & Healthy Consolidation
Following an early post-launch surge of nearly 200%, $NIGHT experienced a natural pullback from the ~$0.08–$0.09 zone. This correction phase reflects supply distribution and profit-taking, not structural weakness. The current range indicates a base-building phase, often a prerequisite for sustainable continuation.
WHY $NIGHT MATTERS RIGHT NOW
This is not a random pump cycle.
The convergence of: ✔ Massive real-time trading volume
✔ Billion-dollar market capitalization
✔ Verified on-chain adoption
✔ Strong Cardano ecosystem backing
has elevated $NIGHT from a simple launch story into a network-usage and infrastructure growth narrative. That’s precisely why $NIGHT remains consistently featured on Gate Square’s trending discussions.
MY MARKET VIEW
$NIGHT is currently balancing price discovery with utilization momentum. The next decisive phase will likely depend on: • Midnight mainnet feature expansion
• Smart contract adoption
• Real-world privacy use cases onboarding non-speculative users
If on-chain growth continues to scale alongside ecosystem development, $NIGHT may transition from a high-volume asset into a long-term infrastructure token within the Cardano universe.