Both long and short positions were liquidated in the past 24 hours
Long position liquidation of 296 million USD, short position liquidation of 369 million USD
The market still has money. Last night’s surge made long positions earn 73 million USD.
Have you ever thought that every transaction and every asset you have on the chain is like running naked on the street?
Every transaction you make is actually being watched by someone. When most of the market is bearish, prices often get pushed up.
You can casually search for an address and see when you transferred how much money, to whom, and even trace back to all your asset flows. Ordinary people might think it’s inconsequential, but truly large players, enterprises, and institutions dare not put money on the chain — this is not transparency, this is blatant exposure.
Later, some wanted to create a 'privacy chain', hiding everything, but ended up in another dead end: too concealed, non-compliant, unrecognized by regulators, crowded with illegal operations, and ultimately, they couldn’t gain legitimacy. Complete transparency is unusable, complete privacy is illegal; this is the deadlock that the blockchain industry has faced for ten years.
The emergence of NIGHT is to break this deadlock.
It is not a wild project that appeared out of nowhere, but rather the native token of Midnight, the 'compliant privacy public chain' crafted by the top team IOG behind Cardano. You can think of Midnight as a secure city-state with access control: the outside public chain is a wide road, with all actions exposed; pure privacy chains are dark alleys, hidden from sight; whereas Midnight offers you privacy protection while adhering to rules, complying with regulations, and being recognized by the mainstream world as a 'legitimate private neighborhood'.
NIGHT is the only pass to enter this city-state. If you want to use privacy features, initiate private transactions, or participate in city-state governance, it is indispensable. The team has also designed a clever dual-token system: holding NIGHT will automatically generate on-chain fuel DUST, eliminating the need to repeatedly spend money on Gas, making it stable and practical, completely avoiding the old path of air tokens relying on hype for price increases.
Interestingly, as soon as this city-state opened, it attracted top giants like Google Cloud, MoneyGram, and Fireblocks. Not because of hype, but because they truly need such a place that is both 'private and compliant' to conduct enterprise-level on-chain business, large asset transfers, and data security processing.
So the story of NIGHT has never relied on messages causing wild fluctuations, but rather it hits the industry's most essential pain point: as blockchain becomes more widespread, regulations stricter, and more institutions enter the scene, the demand for 'compliant privacy' grows. It follows a path of steady, sustainable growth based on real-world deployment, without flashy hype, but with a solid foundation of growth.#night $NIGHT @MidnightNetwork