$NIGHT – Shorting without understanding the actual supply
Many traders are shorting $NIGHT based on the high displayed market cap in the early stage, while the actual circulating supply is much lower.
🔹 Project
$NIGHT is the official project belonging to the ADA ecosystem. The lack of VC funding indicates the project is financially self-sufficient, not under pressure to sell from funds.
📊 Misunderstanding about market cap
CMC displays 16.6 billion tokens (69.19%) as circulating supply, causing the initial market cap to exceed 600 million USD.
➡️ This number does not accurately reflect the actual amount of tokens in circulation.
🔹 Reality (6 PM – 11/12)
Total tokens issued: ~1 billion (~4.2% of total supply)
Actual circulating tokens: ~500 million (~2%)
Actual market cap: ~22–45 million USD
🧩 Main issuance sources
Binance Alpha: 120M ✅
Mining & Earn: ~400M
Boost event: 120M ✅ (disbursed)
Mining: 200M (gradual issuance, ends 23/12)
Community airdrop: 1.14B (circulating <100M)
