KEY TAKEAWAYS

• Midnight’s NIGHT token surges 188% after major exchange listings.

• The dual system introduces tradable NIGHT and private-use DUST.

• Bullish momentum points toward $0.10, but early-profit risks remain.

NIGHT, the native token of Midnight, a new generation of blockchain developed by Charles Hoskinson, has jumped by 188%.

According to CCN’s findings, the Midnight token rally happened shortly after it became available for trading. Interestingly, multiple exchanges have also listed the altcoin, with market participants anticipating further developments.

In this analysis, CCN reveals what Midnight is, the tokenomics around NIGHT, and what could be next for the price.

What Is Midnight?

Midnight is a next-generation blockchain built by Charles Hoskinson, co-founder of Ethereum and founder of Cardano.

It uses zero-knowledge (ZK) proof technology to deliver real utility without compromising data protection or ownership.

At its core, Midnight introduces a public-private dual-state ledger architecture, an advancement designed to overcome the privacy limitations of current public blockchains.

Hence, it is not out of place to say that Midnight is a privacy-based project, similar to Zcash (ZEC), Dash, and others.

NIGHT Tokenomics Revealed

Interestingly, Midnight features a dual-component system:

• NIGHT, Midnight’s transferable utility token, is publicly tradable and plays a central role in governance and network incentives, including block production rewards. However, NIGHT is not used to pay execution or transaction fees.

• Instead, that function belongs to DUST. DUST is not a token and cannot be traded on any exchange. It operates as a shielded, non-transferable, and decaying resource that users automatically generate by holding NIGHT. This design separates economic value from transaction execution, helping Midnight protect metadata while preventing speculative fee manipulation.

However, unlike NIGHT, DUST is not tradable on exchanges. Instead, users automatically generate it by holding NIGHT, functioning as a non-transferable resource explicitly used for privacy-preserving execution costs — specifically, gas fees that could otherwise leak metadata.

DUST also decays over time, ensuring that privacy features require ongoing participation rather than speculative hoarding.

As of this writing, Midnight has 16.60 billion NIGHT tokens in circulation, with a maximum supply capped at 24 billion.

This supply structure gives the protocol room to grow while maintaining predictable tokenomics as the network expands.

Following the launch, the Midnight token price has hit $0.072. CCN’s findings also reveal that several exchanges have listed it.

Some of the exchanges that have listed the cryptocurrency include Bybit, KuCoin, and OKX.

Besides that, Hoskinson has also commented on the launch. According to the Cardano founder, Midnight could become a $10 billion ecosystem.

“I’m very encouraged by the fact that, yesterday, Midnight was hypothetical. Today, it is a billion-dollar ecosystem, heading to ten billion,” Hoskinson stated.

NIGHT Price Prediction

Looking at the chart, it may be too early to make a definitive call on NIGHT’s long-term direction.

However, the current structure shows a clear pattern of higher highs, indicating that bullish momentum is steadily building.

For now, the NIGHT remains in price discovery mode, with traders reacting primarily to sentiment and early demand rather than established technical levels.

If this trend continues, the Midnight token could rally toward $0.10 as buyers push the market into its next valuation zone.

However, this outlook depends heavily on sustained interest. If the hype surrounding the cryptocurrency fades or early buyers begin taking profits, this prediction may not materialize.

In that scenario, NIGHT’s price could retrace toward $0.062, where it may attempt to stabilize before making another move.