$NIGHT
As of March 15, 2026, the NIGHT token serves as the unshielded native and governance asset for the Midnight Network, a Cardano partner chain focused on "rational privacy".
* Market Snapshot: NIGHT is currently trading around $0.049 to $0.054. Following its major Binance spot listing on March 11, 2026, it maintains a market capitalization of approximately $840 million with a circulating supply of 17 billion tokens.
* Core Utility: Holding NIGHT automatically generates DUST, a shielded resource used to pay for private transaction fees. This dual-token model separates capital value from operational costs.
* Network Milestones: The network is currently in the Kūkolu phase, with a federated mainnet launch scheduled for late March 2026.
* Supply Dynamics: While the total supply is capped at 24 billion, roughly 82% of the initial distribution is subject to a 450-day "thawing" period, creating structured quarterly unlocks through late 2026.
