I opened Binance today, and $NIGHT reported $0.04510, down 1.64% in 24 hours, with a daily low of $0.04346, and a trading volume of about $280 million in 24 hours. Binance is also running a trading event with a 90 million NIGHT reward pool — the event is ongoing, but the price is still going down.
I stared at this number for a while and then added to my position.
I don't want to say 'the mainnet is going online, so buy'; that logic is too lazy, and it's everywhere. I want to clearly explain my real reasons and the risks I perceive, so you can make your own judgment.
First, let's talk about the risks; this must be mentioned upfront.
$NIGHT Currently, about 45% of the tokens have not been circulated. Among them, the Glacier Drop community allocation has about 4.55 billion tokens, unlocked in four batches over 360 days, with one batch every 90 days, starting from December 2025 and ending on December 4, 2026. Each batch will have about 1.14 billion tokens entering circulation, and this pressure will not disappear just because the mainnet goes live.
In addition to Glacier Drop, there are larger team allocations and ecosystem funds, and the official has not provided a complete unlock timetable—this is the more opaque part.
Today, the lowest dropped to $0.04346, with MA99 providing some support around $0.04446, but if the $0.04 support is broken, the next target could be around $0.035. I cannot rule out this possibility.
Then why did I buy it?
There is new news these days @MidnightNetwork: Worldpay and Bullish have officially joined the alliance node network, along with Google Cloud, MoneyGram, Vodafone/Pairpoint, Blockdaemon, eToro, etc., bringing the total number of node operators to 10.
Worldpay covers over 175 countries, exploring the integration of Midnight's ZK privacy capabilities into merchant-side transactions. Bullish is even more noteworthy: its specific use is to use ZK technology for reserve proof. After the FTX collapse in 2022, reserve transparency became a pain point in the industry, and Bullish chose to solve this problem using ZK methods—publicly stating 'adequate reserves' while protecting specific holdings from being seen by competitors. This is not ordinary institutional endorsement; it is a real use case of embedding Midnight's tech stack into business compliance processes.
The mainnet Kūkolu is going live in the next few days, which marks the starting point for the first batch of on-chain activity data. I will watch the DUST consumption; that will be the real signal.
Did you check the market today? Are you adding positions, waiting and observing, or cutting losses? Tell me, I want to see real operations, not slogans like 'it will go up' or 'it will go down'.
#night @MidnightNetwork $NIGHT
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