- Midnight launch sees NIGHT listed and ADA price pump.
- Altcoin ADA pumped the most among major crypto assets.
- Analysts expect a new ATH for ADA soon.
The long-awaited Midnight Network is now live and saw NIGHT, its native token, listed on multiple exchanges. During this listing, the price of ADA pumped far more than other tokens in the space. As Midnight launch sees NIGHT listed and ADA price pumping the most among major crypto assets, expectations for Cardano’s ADA to surge alongside the success of Midnight and NIGHT grow stronger.
Midnight Launch Sees NIGHT Listed and ADA Price Pump
Yesterday, several crypto analysts were pleased to see the launch of Cardano and Charles Hoskinson’s Midnight Sidechain’s native token NIGHT. This launch was not only a monumental milestone for the Cardano ecosystem but for the entire crypto market as well. This is because the Midnight network functions as a truly private chain, allowing transactions to happen anonymously and privately without breaking any regulations.
So, unlike previous privacy chains, Midnight cracked the code and will be able to deliver a regulation-compliant privacy chain. Not only that, Midnight, thanks to it being built by Cardano’s Charles Hoskinson, is a highly interoperable chain and is already integrated with several other popular blockchains, including but not limited to Solana, Ethereum, and Bitcoin. This allows for greater collaboration and seamless cross-chain transactions with privacy.
Already, the Glacier Airdrop announced months ago, distributed 4.5 billion tokens between 8 million wallets, across 8 chains. This was indeed an impressive feat and an exciting development for the crypto community. As we can see from the post above, the latest NIGHT token listing also saw ADA price pump the hardest among the major coins in the last 24 hours.
The post declares that the Midnight Network is prepared to fill Cardano’s privacy gap and, as a partner chain, it will definitely have a positive impact on the whole Cardano ecosystem. Presently, according to TapTools and CoinMarketCap data, Midnight’s NIGHT and Cardano’s ADA tokens are the two top trending tokens in the world.
The Mechanics of Midnight
The crypto community steadily educates the masses on the mechanics of Midnight. As we can see from the post below, this Cardano community member explains how Midnight will be a new privacy-focused blockchain, engineered with a novel tokenomics model that uses two core assets: NIGHT and DUST. To highlight, NIGHT is the native utility token and has a fixed supply of 24 billion tokens.
I addition, a portion of NIGHT will be held in a Reserve to be released as block rewards. The rate of new circulation slows down over time, approaching zero inflation once all tokens are released. Unlike typical GAS tokens, NIGHT itself is not spent to pay transaction fees. Instead, its primary role is to continually generate DUST, the resource used for transaction fees. In essence, holding NIGHT gives you the capacity to use the network.
