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Midnight token NIGHT, which is the native cryptocurrency of a partner chain in the Cardano ecosystem, received its official listing today on Binance, the world’s largest crypto exchange. For those unfamiliar, the Midnight project is positioned as a new-gen blockchain, according to creator of Cardano Charles Hoskinson, and is primarily focused on data confidentiality and privacy.
One of the key features to consider is that Midnight, as a network, uses zero-knowledge-proof technology. Unlike fully anonymous coins such as Monero (XMR), it allows users to selectively disclose data for regulators or audits while generally maintaining overall privacy.
240,000,000 NIGHT airdrop and 13% price rise for "new Cardano"
NIGHT reacted to the news in the classic fashion of Binance listings. The token’s price surged by more than 10% at the moment the news broke, with the spike even reaching 13.5% in a single candle within just five minutes. However, this impulse was quickly sold off, and at the time of writing, the Midnight token is trading slightly above $0.052 per token.
Among the key listing details, trading is scheduled to begin instantly on March 11. Initially, NIGHT will trade in pairs with USDT, USDC, BNB and the Turkish lira (TRY). The token will receive a "seed tag" by Binance as the exchange indicates the high volatility and risks associated with a newly listed asset.
Interestingly, beyond the listing itself, Binance decided to incentivize Midnight through its Binance Hodler Airdrops platform. Users who subscribed to certain products on the exchange during February 2006 will have the opportunity to receive 240 million NIGHT tokens. In other words, 1% of the total token supply will be distributed among active Binance users.
Dan Burgin
Vladislav Sopov
