Many people are currently looking at Midnight, still fixated on the three characters of privacy chain, but the market has already been trading based on a different logic.
$NIGHT is now approximately around $0.049, circulating about 17 billion pieces, with a total supply of 24 billion pieces, and its market value has reached the level of $800 million.
This price is not low, so what will truly decide whether it can continue to rise is not another reiteration of the privacy narrative, but whether it can generate demand after the mainnet goes live.
I think the most interesting aspect of Midnight is that its token model is not purely speculative in nature.
$NIGHT is not simply used to pay gas; it will continuously generate DUST, and what truly consumes for transactions and contracts is DUST.
This design separates asset pricing from network usage.
For projects and institutions that need to run their business long-term, this model resembles a production tool more than a typical public chain, making it less susceptible to being hijacked by short-term gas sentiment.
More critically, as we approach the mainnet launch at the end of March, Midnight has continuously integrated names like Worldpay, Bullish, eToro, and MoneyGram into its nodes and ecosystem. This is not about telling stories to the community; it's about finding real value support for NIGHT.
My judgment is that if there is a revaluation of Midnight in the future, it will not rely on the word privacy, but rather whether the DUST consumption after the mainnet launch can truly lock in the demand for NIGHT.
@MidnightNetwork $NIGHT #night
