Midnight launched its native token NIGHT last week and quickly exceeded $1 billion market capitalization while sustaining more than $1 billion in 24‑hour trading volume, placing it among the top 10 tokens by volume (CoinMarketCap). Charles Hoskinson called the launch an “incredible success.” Midnight Explorer shows ~3 million blocks, over 405,000 transactions and an average block time of about six seconds. NIGHT traded near $0.063 (up ~26% for the week) with a circulating supply of 16.6 billion of a fixed 24 billion and a fully diluted valuation of about $1.51 billion. Volume exceeding market cap and a volume‑to‑cap ratio above 100% indicate sustained two‑way trading activity. Midnight is positioned as a privacy‑focused execution network with selective disclosure and enterprise features and is linked to Cardano’s evolving ecosystem.

Facts: NIGHT launched last week, crossed $1B market cap and sustained >$1B 24‑hour volume (CoinMarketCap); ranked in top 10 by volume; Charles Hoskinson called the launch an “incredible success.” On‑chain metrics: ~3 million blocks, >405,000 transactions, ~6s block time. Price near $0.063 (up ~26% for the week), circulating supply 16.6B of 24B, FDV ≈ $1.51B. Volume exceeding market cap and volume‑to‑cap >100% indicate sustained two‑way trading — these concrete data points justify positive sentiment and a meaningful but not extreme short‑term trading impact.