Before $NIGHT : Don't just look at the IOG sign, first calculate the compliance and selling pressure accounts.
Brothers, let's speak plainly. Recently, everyone has been hyping the expectations for Midnight's mainnet and IOG's background. Looking at this heat, I just want to say: stop hyping, first look at the evidence. The story of privacy plus compliance is indeed top-notch, but whether it can be executed is another matter.
Their 'selective disclosure' is very clever; they don't confront regulators head-on. But I tend to believe that the project's moat is not in the fanciness of the ZK algorithm, but in the real operational costs. How expensive is it to run zero-knowledge proofs on-chain? I'm not sure, but how will I verify it? Once the mainnet goes live, I'll directly see if there are any real DApps that dare to run high-frequency interactions on it. Stop hyping how amazing the underlying technology is; if there are no institutions or retail investors using it, then it's just a high-end shell.
Looking at the chips, the total supply is 10 billion, with about 30% in circulation. The current rise is driven by localized liquidity exhaustion, but that 70% of unlocked selling pressure in the future is very real. The conclusion is not absolute; the short-term speculation on the mainnet landing sentiment is reasonable, but long-term? First ensure survival before taking risks. I will only focus on the real on-chain activity and the concentration of token holdings after the mainnet launches; no rabbit, no hawk.
