Midnight Surges Amid Decentralization Debate and Rising Network Adoption

• • NIGHT token surged sharply today amid a public debate over token supply control between Cardano's founder and an industry critic.
• • The Midnight network has recorded over 1.2 million transactions on Cardano, signaling genuine adoption beyond speculation.

NIGHT token surged sharply today amid a public dispute: Cardano founder Charles Hoskinson pushed back on allegations that two founding entities control roughly 50% of NIGHT's supply (Midnight Foundation ~35%, Midnight TGE Ltd ~15.25%) and that the network switched to closed-source code without public notice on September 25, 2026. Hoskinson dismissed the allegations as FUD, pointing to distribution programs like the Glacier Drop and Scavenger Mine, which he says have distributed over 2 billion NIGHT tokens to Bitcoin, Ethereum, XRP, Solana, and Cardano holders. On the adoption side, the Midnight network has recorded over 1.2 million transactions on Cardano, signaling genuine activity beyond speculation, alongside the Morpho protocol's P2P Orders feature launch on the Midnight network on September 29, 2026. The current price sits around $0.042719 (Rp766). With entry in that area, a first target of $0.044001 (Rp789), about 3.0% from entry, and a second target of $0.045282 (Rp812), about 6.0% from entry, open up if the momentum continues.

NIGHT is highly volatile with a still relatively small market cap and liquidity that varies across exchanges; an escalation of the supply-centralization allegations could reverse sentiment quickly if left unaddressed. This scenario is invalidated if price breaks below $0.032600 (Rp584), the current 24-hour support area.