In March 2025, a single shout from Trump expressing optimism for BTC, ETH, XRP, and ADA directly caused BTC to soar from 85000 to 95000 within an hour, igniting a frenzy in the crypto world. Everyone was shouting that a bull market was coming, and retail investors rushed to buy, fearing they would miss the opportunity to get rich. But no one expected that the next day BTC would plummet from 95000 back to 85000, drawing a 'heaven and earth gate' with a drop of 10000 USD. In just a few days, it broke below the 80000 mark, falling to around 76000. Those retail investors who chased the highs were wiped out overnight, losing everything.
Now it’s that time again, Trump is using the same old tricks, once again stepping into the spotlight with his rhetoric to manipulate the crypto market. I’m not bearish, just inevitably sighing; the president of the world’s number one superpower can stir market chaos and profit from retail investors with just one sentence. It’s hard not to feel that this world is indeed a huge makeshift stage, where the game of capital has never been fair. In this wave of chaotic market sentiment, I did not follow the trend chasing those coins mentioned by Trump, but instead focused on Midnight Network, not because of the tired old trope of 'the privacy narrative is back,' but because this surge indeed has an irreplaceable hard catalyst.
This hard catalyst point is Binance's support—Binance has included it in the HODLer Airdrops system and has set up a complete entry on March 11, 2026, with spot trading, Earn, and core exposure all online. Those who understand the cryptocurrency world know that this level of platform endorsement is far more effective than a project party posting a roadmap on Twitter. This also explains why NIGHT's trading volume has suddenly surged recently: according to Binance's price page and major market sources, its 24-hour volume has stabilized between 600 million and 1 billion USD, with a price fluctuation between 0.04 and 0.05 USD, and a market cap maintained around 720 million to 780 million USD. This is definitely not 'hot air with no buyers,' but rather real liquidity that has been thoroughly ignited.
But amid the hype, I always remain clear-headed. After all, the most attractive aspect of this project is also the easiest pitfall. Whenever Midnight is mentioned, people instinctively categorize it as a 'privacy chain,' subsequently associating it with regulatory risks and the potential hazards of exchanges withdrawing support at any moment. The cleverness of Midnight lies in its avoidance of this confrontational narrative, focusing instead on programmable privacy and selective disclosure. Even the token design is counterintuitive: NIGHT is not an anonymous coin, but a public and transparent native and governance token. The actual asset used for transaction execution is DUST (which can be understood as the fuel for privacy computing), and one of the core functions of NIGHT is to generate DUST and support network operations.
The core of this design is to integrate 'privacy' and 'compliance' into one, providing developers with a set of provable and disclosable tools, rather than simply hiding all data. This allows it to escape the regulatory dilemmas faced by traditional privacy coins. In my view, Midnight is more like a chain that aims to turn ZK from a concept into infrastructure. It is betting not on retail sentiment but on the real demand of the next two years—institutions, enterprises, and even ordinary applications all need on-chain privacy, but cannot deviate from the compliance framework. Currently, the requirements for on-chain fund flows and anti-money laundering are becoming increasingly strict, and although the ZK concept has been overhyped, there are very few projects that can be implemented and used readily by developers. If Midnight can package privacy computing into callable modular services, it can become the 'privacy middleware' connecting various public chains.
In light of the current hype, we should pay close attention to two practical issues: first, the new chips brought by the Binance airdrop and how the subsequent unlocking rhythm will be, whether it will create sustained selling pressure; second, whether the mainnet progress meets expectations. It is reported that Midnight officially announced its token unlocking mechanism by the end of 2025, adopting a 'random starting date for each address' approach, unlocking in batches within 90 days. This design can spread out selling pressure and avoid concentrated sell-offs, but it also means that the selling pressure will not disappear; it will just become longer and more grueling. As for the mainnet, its update in January 2026 clarified the route of 'first addressing liquidity, security, and exchange accessibility, then advancing the federated mainnet (Kūkolu phase).' Today's exchange entry and Earn products are precisely the implementation of this idea.
From a trading perspective, 'preserving life first' is the principle. The current characteristics of NIGHT's trend are high volume, high volatility, and non-smooth surges. The volume is mixed with airdrop holders, liquidity providers, and retail investors chasing trends. It seems lively, but in reality, it is difficult to distinguish between net inflows and wash trading. I often use two anchor points to cool myself down: first, the continuous actions on the platform side; second, the verifiable progress of on-chain development. After all, behind a 1 billion level 24-hour trading volume, the scariest thing is not the inability to buy, but rushing in at the peak of enthusiasm and being instantly harvested by volatility.
Finally, a reminder: do not be swept away by the illusion of 'universal privacy.' Privacy is essentially a higher-cost computing method, accompanied by more complex development and debugging. Although Midnight's introduction of DUST solves the cost management issue, whether it can form a healthy demand curve still needs time to test. My conclusion is simple: do not shout too much or sing too little; treat it as a candidate for infrastructure that has been pushed onto the stage. Binance has given it a platform; whether it can transition from 'trading enthusiasm' to 'ecological realization' depends crucially on the progress of the mainnet and the implementation situation of developers. Keeping an eye on short-term trends while focusing on long-term realization, and not being swept away by the excitement, is the way to survive in the chaotic world of cryptocurrency.
@MidnightNetwork $NIGHT #night
