Many people are blindly shorting $NIGHT, but they haven't clarified their positions and have been deceived by the high circulating market cap displayed on the front end.
This is an official ADA project, and the lack of VC financing indicates that there is no shortage of funds.
The initial circulation on CMC is 16.6B, accounting for 69.19%. The exchanges listed this as well because it first confirmed the circulation amount and then released it in phases, which led to the front-end circulating market cap showing a high figure of over 600 million...
As of December 11th at 6 PM, the actual circulation is about 1 billion, accounting for approximately 4.2%. The current circulating market cap is around 45 million.
However, this circulation is still being released slowly in phases, so currently, it is only about 500 million, accounting for roughly 2%. The current circulating market cap is around 22 million.
The specific details of the positions are as follows:
Binance Alpha: 120 million (fully circulated)
OK Flash Earn: 400 million (withdrawable any time, ends at 4 PM on December 11)
OK DEX: 120 million (ends at 6 PM on December 11, all released at that time, important!!!)
Bybit: 320 million (withdrawable any time, current progress is about 20%, ends on December 23)
Other second-tier exchanges: about 40 million (withdrawable any time, small amount may be ignored)
Community airdrop part: A total of 1.14 billion in the first and second phases, randomly withdrawable within 60 days, with the actual circulation expected to be less than 100 million.
The upcoming operational time points are:
For those looking to earn in the short term, wait for the collective release of positions to open orders in advance, with two time points:
1. OK DEX at 6 PM on December 11, releasing 120 million at once (consider shorting in advance)
2. Announcement of Binance contract launch (will rise temporarily)
3. Announcement of Binance spot launch (estimated for Binance holders similar to OK Flash Earn, about 400 million, released before the opening)
