This post is for educational and informational purposes only and must not be construed as containing investment advice. Cryptocurrency trading carries a high risk of financial loss, the blogger who wrote this post is not a financial advisor, depending on your country and local regulation, you should seek advice from the appropriate financial advisors to ensure you are informed about the risks.
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increase in crypto price described in this post happened in the past, and linked to a crypto market context that is completely different today. there is no guarantee that crypto price will go up again.
Status: Published.
a list of already published HOW TO TRADE guides can be found HERE.
do your own research
Last update: November 5, 2026
Summary
1- Category
1-A- Midnight the network
1-B- NIGHT the token
2- Use cases
3- NIGHT Utility
4- Fees
5- Market capitalization
6- Competition
7- Explorers and Analytics
7-A- Explorers
7-B- Analytics
8- Ecosystem
8-A- Stats
8-B- Non profit - Midnight foundation
8-C- Corporate arm - Midnight TGE Ltd
8-D- Technology arm - Shielded Technologies
8-E- Midnight City
8-F- LACE wallet
8-G- Community - Midnight contributors
8-G-1- Aliit
8-G-2- Nightforce
8-H- Developers
8-H-1- Developers - Education
8-H-2- Developers - Community
8-H-3- Developers - Forum
8-I- Funding – open source
8-J- Midnight Governance
8-K- influencers and high profiles
8-L- Payment - Onboarding
8-M- Ecosystem token
8-N- Venture
8-N-1- Venture – Build Club
8-N-2- Venture – Night Sky Accelerator
9- Stakeholders
9-A- NIGHT holders
9-B- Midnight block producers (MBPs)
9-C- DUST recipients, users and sponsees
10- Night ups and downs
10-A- Entry into circulation
10-B- Supply
11- Why would someone need to buy Night?
11-A- Capacity-marketplace components
11-A-1- DUST leasing
11-A-2- On-chain capacity exchange
11-B- Block space consumption and smart contract executions
11-B-1- Ascend
11-B-2- urble
11-B-3- GalaxySwap
11-B-4- NexiFuse
11-B-5- Brick Towers
12- Why NIGHT go down ?
12-A- Cyberattacks
12-B- List of possible other reasons NIGHT price can go down
13- Midnight future expectations
13-A- Why NIGHT went up in the past?
13-B- Design elements favoring Midnight network future adoption
13-B-1- On-boarding
13-B-2- Developers
13-C- List of possible other reasons NIGHT price can go up
14- where to trade NIGHT?
15- How to stay informed about NIGHT?
Summary
Public spending need a lot of transparency because voters wants to know where the taxes they pay go. Blockchain explorers offer the opportunity for everyone to see what an elected official is doing with the city budget for example.
But let’s say john or sarah who are individuals, maybe they are self employed or working for a company, they got into some kind of conflict, and they end up having people that do not like them, adversaries, or enemies !!
let’s also say that their adversaries managed to get their USDT addresses, well they can be surveilled for years, tracked, harassed, or even end up being robbed. As you can see it’s not funny at all, it is a very dangerous situation for normal people.
Yes transparency is needed in political life because it’s public funds, its everyone business and public institution are protected by security services.
But normal people do not have such protection, and john or sarah buying things from an online grocery store and paying with USDT is something private, normally nobody care about things like that unless you have some people that do not like you.
This is Midnight world ! They provide a framework for confidential computing and privacy-first applications. It addresses a fundamental challenge in blockchain technology, how to use the benefits of distributed ledgers while maintaining the privacy required for sensitive data.
From a tokenomics perspective, Midnight has a dual-token design that turn NIGHT insulated from many events. DUST’s burn-and-mint dynamics have basically a reduced effect on NIGHT price. This design in theory will lower volatility and provide predictability to dApps planing to spend DUST.
Data centers operators who are unable to predict their profit and loss, can consider Midnight block production as a stable environment and a solution to their problems. If the price is known they just have to focus on the cost.
Obviously NIGHT is far from being a memecoin for entertainment, not even a promotion machine with a store of value narrative. Midnight is an engineering solution for a problem discussed for hours in corporate meeting rooms, it is a clear market fit, enterprise need it and they are more likely to migrate their transactions to Midnight to get confidentiality they need or required by regulation.
Recent news showed how cyber criminals threatened GMO of publishing customers financial data, and with AI Cyber attack tooling this trend is not expected to slow down in the future. Solution such as Midnight can not stop attacks but can help reduce some risks.
A lot of young people are not aware of confidentiality and privacy rules, basically the first contact with such idea happens with the first employment contract, when you are asked to maintain confidentiality about your employer data. it also do not make sens to give a lot of importance to confidentiality and privacy if you are a small grocery store employing 2 workers, you need the size.
things can take a different tone if you are working for a company employing thousands of people or the government. shareholders can loose money, workers can loose their jobs, people can end up being kidnapped and tortured,..... in such structure a risk management and security background can build over time, so you find a small community of executives for whom confidentiality and privacy are very important. those are Midnight future clients!
Many risk-conscious traders limit crypto holdings exposure to such assets to a small share of their total portfolio value, often around 2% - as a risk-management practice. Depending on the size of your portfolio.
1- Category
1-A- Midnight the network
Midnight is a fourth generation blockchain designed to unlock real-world adoption. Midnight provides programmable privacy and a predictable cost model that can unlock a new paradigm in on-chain asset classes and bring the world’s finance on-chain.
Its unique capabilities include :
dual-state ledger: unlike chains that are either transparent or fully anonymous, Midnight synchronize two parallel states. The public state records clear transactions for auditability, while the local, private state keeps sensitive data (like business logic or personal IDs) encrypted locally on the user’s device. The two interact via zero-knowledge proofs, ensuring the network verifies validity without ever seeing the raw secrets.
Programmable privacy & selective disclosure : using compact (Midnight’s Typescript-based language), developers can write ‘’compliance-as-code.’’ instead of a binary toggle, they can program rules – allowing users to prove facts (e.g., ‘’I am solvent’’) via ZK proofs without revealing the underlying data.
1-B- NIGHT the token
the network splits value/ownership from operational capacity to stabilize costs. NIGHT is the unshielded governance and utility token. Holding NIGHT automatically generates DUST, a shielded non-transferable ‘’gas’’ for transactions. DUST decays if unused, preventing hoarding and ensuring that private transaction metadata stays protected.
NIGHT is unshielded, meaning NIGHT transactions are stored and publicly visible on the blockchain – including metadata, such as wallet addresses, values, and timestamps.
2- Use cases
- - Private trading and liquidity formation,
- - healthcare and regulated data,
- - governance and identity,
- - finance and compliant privacy,
- - AI and data analysis,
- - Confidential lending and capital markets,
- - institutional execution and prime brokerage,
- - Tokenized ownership of regulated real-world assets,
- - Programmable compliance and reusable identity.
3- NIGHT Utility
NIGHT is not expendable to execute transactions, NIGHT utility include :
- - capital : serve in DUST generation, NIGHT is not expended to power transactions on the network,
- - rewards : block production rewards,
- - incentive : ecosystem growth incentives,
- - Staking,
- - network economic security,
- - governance : on-chain governance,…..
4- Fees
using the Midnight network requires DUST, a non-transferable, renewable network resource generated over time by holding NIGHT tokens. DUST is consumed when transactions are executed, but NIGHT itself is never spent.
DUST-denominated transaction fees are dynamic and reflect the actual computational and storage impact of each transaction, as well as current network load. Simple transactions require less DUST than more complex ones.
Midnight does not rely on fee-market bidding ; instead, the protocol adjusts the required DUST based on network capacity to help maintain predictable and stable transaction costs,
5- Market capitalization
according to midnightexplorer.com, as of October 12, 2026 NIGHT rank 73 with a $819.8M market capitalization.
6- Competition
as a payment privacy solution, Midnight is in competition with other privacy coins such as :
Midnight is more than a payment privacy solution, it allow data confidentiality which extend its applications to a wider range, and makes it a better choice for developers and managers dealing with privacy regulation.
as a software solution, Midnight is a clear winner in the privacy tokens category, technically surpassing DASH, XMR and ZCASH.
7- Explorers and Analytics
7-A- Explorers
midnightexplorer.com is an official partner of the Midnight Network. Leading search, API & Analytics platform for the midnight blockchain.
7-B- Analytics
| Analytics provider | Metrics |
|---|---|
| dune.com/house_of_wizard | ~50 |
| defillama.com | ~13 |
| nansen.ai | ~8 |
8- Ecosystem
Data in the table bellow is from the Midnight ecosystem catalog
8-A- Stats
| Category | Number of projects |
|---|---|
| INFRASTRUCTURE | 22 |
| ECOSYSTEM TOOLING | 16 |
| WALLET | 11 |
| DeFi | 9 |
| INSTITUTIONAL CUSTODY | 7 |
| DATA AGREGATORS | 5 |
| AI | 4 |
| ENTERPRISE SOLUTION | 4 |
| IDENTITY SOLUTION | 4 |
| BLOCK PRODUCER | 3 |
| EXCHANGE | 3 |
| DAO | 1 |
| GAMING | 1 |
| NFT | 1 |
| PREDICTION MARKET | 1 |
| TOKENIZED RWAS | 1 |
| TOTAL | 93 |
8-B- Non profit - Midnight foundation
the midnight foundation is an organization dedicated to growing the Midnight network – a fourth-generation blockchain built for secure, compliant, and private decentralized applications – and supporting the global community around it. They help developers, creators, and privacy advocates build tools that protect personal data, support digital freedom, and power the breakthrough generation of blockchain innovation.
8-C- Corporate arm - Midnight TGE Ltd
Midnight TGE is a subsidiary of the Midnight Foundation, whose primary role is to run and manage the NIGHT token supply creation, issuance, and distribution.
8-D- Technology arm - Shielded Technologies
Shielded Technologies are core contributors, architects, and developers of the Midnight protocol.
8-E- Midnight City
Midnight city is a new way to experience Midnight. It will become an interactive front page of the network, a live environment to demonstrate how Midnight can power rational privacy for real-world application and scale.
8-F- LACE wallet
LACE is a light wallet built on Cardano by the team behind Cardano and Midnight. LACE gives users seamless, native access to both ecosystems and beyond.
8-G- Community - Midnight contributors
8-G-1- Aliit
the Aliit is Midnight’s selective technical Fellowship program that provide benefits to builders, advocate, educator, community leaders,… for their technical contributions to the Midnight network.
8-G-2- Nightforce
the Nightforce is a values-driven community of volunteers contributing with awareness-focused or marketing-oriented work, and dedicated to the long-term growth and stewardship of the Midnight Ecosystem.
8-H- Developers
8-H-1- Developers - Education
Midnight Academy provides a structured learning path for developers who want to build-focused applications.
8-H-2- Developers - Community
the developer hub connects developers with everything required for engineering privacy with Midnight, from their first line of code to production.
8-H-3- Developers - Forum
the midnight developer forum is a place to share skills, knowledge and interests through ongoing conversation.
8-I- Funding – open source
Midnight Compact DApps is a strategic fund dedicated to building use cases and utility that will empower the future of privacy-enabled applications. This initiative leverage Catalyst’s robust infrastructure and the wisdom of the Cardano community to help select the most promising projects that demonstrate the power of programmable privacy.
8-J- Midnight Governance
through Midnight governance process, the community is able to :
- - submit proposals through a Midnight Improvement Proposal (MIP),
- - access on-chain treasury funding through a MIP,
- - implement protocol upgrade.
8-K- influencers and high profiles
Charles Hoskinson is the CEO and founder of input output group, the company behind the cardano blockchain and a co-founder of ethereum. He has 1M followers on x.com, has invested in Midnight and shares news and technical updates about Midnight as a project.
8-L- Payment - On-boarding
Through the capacity exchange, dApps can use their own DUST to pay for users, dApps can use their own DUST to pay for users transactions, removing on-boarding friction.
8-M- Ecosystem token
DUST is the resource required to power transactions on the Midnight network, DUST is continuously generated by NIGHT.
The NIGHT-generates-DUST (token-generates-resource) model ensures that network capacity remains accessible and metadata stays hidden because DUST is a shielded representation. This mechanism shields the details of transaction fees from the public eye.
8-N- Venture
8-N-1- Venture – Build Club
Build Club is a two-month idea-stage program designed to help early-stage founders turn privacy-focused concepts onto viable businesses.
8-N-2- Venture – Night Sky Accelerator
the night sky accelerator empowers exceptional founders to deploy commercial products with infrastructure-level privacy features built for mass adoption.
9- Stakeholders
9-A- NIGHT holders
NIGHT holders who generate DUST – the network resource used to pay for transactions.
9-B- Midnight block producers (MBPs)
Midnight block producers are network participants who elect to run Midnight validating nodes, block producers receive rewards for validating Midnight blocks and securing the network.
9-C- DUST recipients, users and sponsees
DUST recipients, users and sponsees use network capacity. Decentralized applications may sponsor users so that they can transact without holding NIGHT or DUST directly.
10- Night ups and downs
Privacy is regulatory and compliance subject, retail customer are in general not aware of such problems, but in government, institutional and corporate context, it is something that is taken seriously, you may even find lawyers, risk managers, engineers, specialists focusing on privacy.
Retail speculators are looking for volatility, but large organizations with advanced reporting processes are searching for predictability as a way to increase control on costs and margins. This is probably what explain Midnight tokenomics, it uses a dual-component tokenomics model :
- NIGHT : a transferable token for staking and governance,
- DUST : a non-transferable resource for paying transaction fees.
This tokenomics design serves the interests of 2 stakeholders :
- Midnight users transacting on the network : they get predictable costs regardless of token market price,
- validators : insulates their rewards from demand-driven volatility.
The dominant tokenomics is the single-token design. Midnight dual-component tokenomics makes its price sensitive to different market events.
10-A- Entry into circulation
NIGHT tokens enter into circulation as block production rewards coming from the pool of uncirculated tokens allocated to the reserve.
Block rewards come exclusively from the reserve, no new tokens are minted. Block rewards distribution rate is constant (in relation to the reserve), the number of distributed reward tokens decreases with each new block as the number of tokens in the reserve decreases. This pattern forms a decreasing curve that, in practice, means that the reserve can last for hundreds of years.
10-B- Supply
data in the table bellow is from : midnight whitepaper
| Category | Allocation in NIGHT | % in total supply | Lockup |
|---|---|---|---|
| Midnight Foundation | 8 400 000 000.00 | 35.00 % | no |
| Reserve | 6 000 000 000.87 | 25.00 % | yes, whitepaper section 5 |
| Glacier Drop / Scavenger Mine – claimed | 4 547 399 400.63 | 18.95 % | release end on Dec 2026 |
| Midnight TGE Ltd | 3 660 000 000.00 | 15.25 % | no |
| Treasury (on-chain ecosystem) | 1 200 000 000.00 | 5.00 % | release by gov proposals |
| Lost-and-Found | 192 600 598.49 | 0.80 % | no |
| Total supply | 24 000 000 000.00 | 100.00 % |
11- Why would someone need to buy Night?
11-A- Capacity-marketplace components
Midnight holders can benefit from its capacity-marketplace components :
11-A-1- DUST leasing
NIGHT holders may designate the DUST they generate to a Midnight address controlled by another party, enabling bilateral DUST-leasing arrangements outside the protocol layer.
11-A-2- On-chain capacity exchange
a future on-chain marketplace, contemplated as a longer-term development, intended to permit trustless on-chain trading of unused DUST capacity.
11-B- Block space consumption and smart contract executions
ecosystem players in this section are in fact services consumers in the Midnight network that are expending DUST and not NIGHT, buying and holding NIGHT is for them a way they can get DUST. Who are they ?
Midnight ecosystem catalog list 5 DUST consumers on Midnight :
| Ecosystem member | Business | Comment |
|---|---|---|
| Ascend market | Perp exchange, spot DEX | Traders spend DUST for transaction |
| urble | saving | |
| GalaxySwap | exchange | Traders spend DUST for transaction |
| NexiFuse | Medical records | |
| Brick Towers | Development studio | Can advice development teams to choose Midnight |
11-B-1- Ascend
Ascend DEX runs on the Midnight Mainnet network. Before you can trade, you’ll need the 1AM wallet browser extension, NIGHT, and DUST for privacy-enabled transactions. On October 28, 2026 Ascend Market shared a post on x.com announcing that they have surpassed 75,000 transactions on Midnight Network mainnet. With a transaction cost estimate of $0.02 per transaction, it mean that Ascend payed ≈US$1,500
11-B-2- urble
the urble App is a self-custodial app developed by Brick Towers AG. It is the first mobile app that lets users hold, send, and receive shielded tokens on the Midnight Network with full privacy and selective disclosure. In the coming months it will also offer private savings plans on Midnight using advanced privacy technology for automatic, rule-based shared goals. All in one super-simple app that supports seamless payments on Midnight, Cardano, Bitcoin, and Ethereum.
11-B-3- GalaxySwap
GalaxySwap is a decentralized exchange (DEX) built on Midnight. Their mission is to provide secure, private, and efficient token swaps and liquidity for the Midnight ecosystem. DUST registration enables required transaction functionality inside GalaxySwap.
11-B-4- NexiFuse
NexiFuse lets hospitals, patients, apps, and AI agents share medical records with verified identity, patient consent, and a full audit trail behind every request. Records stay encrypted – and Nexifuse never sees them.
11-B-5- Brick Towers
Brick Towers is a leading full-stack development studio in the Midnight and Cardano ecosystems, specializing in financial engineering and secure, private distributed systems. They are the wizards behind user-friendly, privacy-preserving apps like ‘’urble’’ and help teams ideate and build on Midnight with ease !
12- Why NIGHT go down ?
12-A- Cyber attacks
it is very complicated to insure software and networks security, this threat is now increasing with AI. Cyber criminals successfully targeting NIGHT user wallets, treasuries or reserves can incite investors, users and developers to question the security of MIDNIGHT and reconsider their allocation or system deployment. a recent post published on July 22, 2026 by cryptonews.com announced a NIGHT price plunge by more than 30% due to a Midnight bridge hack.
12-B- List of possible other reasons NIGHT price can go down
| Stakeholder | How they can push the price down? |
|---|---|
| Community | start taking profit, selling their NIGHT position |
| individual and organizations developers | find an alternative, no longer interested in integrating NIGHT in their platforms |
| Social media influencer | Start criticizing NIGHT |
| Asset managers | unable or not interested in launching a NIGHT ETF. |
13- Midnight future expectations
13-A- Why NIGHT went up in the past?
A trader can not use NIGHT history to predict its future price because Night was first listed on December 2025. there is not enough price data available for analysis.
13-B- Design elements favoring Midnight network future adoption
13-B-1- On-boarding
a new user installs a wallet, opens a DApp, and clicks a button. Nothing happens, transactions cost DUST, DUST comes from holding registered NIGHT over time, and a brand-new user has neither. Sponsorship removes that wall for on-boarding flows, free tiers, and enterprise deployments where the organization covers usage.
13-B-2- Developers
to build a Midnight DApp, a developer will use :
- - Compact to write smart contract,
- - TypeScrypt or JavaScrypt to build DApp backends and frontends,
- - Midnight.js for contract integration.
According to jetbrains.com there are 5.5M and 5.4M software developers who are using JavaScrypt and TypeScrypt as their primary programming language.
The total population of 10M developers are likely to be asked by their customers or employers to find a solution that provide more privacy, it means that many of them will do search about Midnight, compare and test what it can do.
More developers choosing Midnight means that they will need DUST to run their applications, one way they can get DUST is buying and holding NIGHT.
13-C- List of possible other reasons NIGHT price can go up
| Stakeholder | How they can push the price up? |
|---|---|
| Asset managers | launch new NIGHT ETF. |
| Community | Mobilize for more NIGHT purchase |
| individual and organizations developers | more interested in integrating NIGHT in their platforms |
| Social media influencer | Promote NIGHT |
14- where to trade NIGHT?
Crypto exchanges by country:
Each country has its own cryptocurrency and money transfer laws, as a beginner you should follow a simple rule which is: open a trading account with a crypto exchange located in your country of residence. Crypto exchanges are not available in all countries, so if your country is not listed bellow, you still can try an exchange where you are not prohibited.
Data in the table below is just an extract from the TOS, for official information you should read each crypto exchange TERMS OF SERVICES. The prohibited column use ISO 3166 country codes.
| Country | Exchange | Prohibited |
|---|---|---|
| Seychelles | mexc.com | CAN, SGP, USA, HKG, UK, Malaysia, Kazakhstan |
| UAE | ByBit | CAN, SGP, USA, HKG, FRA, UK |
| United States | bydfi.com | CAN, SGP, USA, HKG, FRA, IND, SRB, UAE |
15- How to stay informed about NIGHT?
Here you can find a list of resources to stay informed about NIGHT.
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