gm. someone in my group chat asked why i even bother tracking airdrop coins anymore since most of them just get dumped, and NIGHT is the answer i gave them.
$NIGHT sits at $0.01700 right now, up 3.44% on the week. small move but it's green, and that matters because this token has spent most of its short life fighting the wall of supply that hit the market after the Midnight airdrop.
Midnight calls itself the "compliance ready, privacy first blockchain" in its own pitch, and that's the whole bet here. either regulated privacy tech is a real category people pay for, or it's marketing copy that fades once the airdrop farmers finish selling.
my call: NIGHT holds above $0.01700 through this week as the initial dump pressure runs dry. if it breaks back below that level, the airdrop supply is still winning and the compliance story hasn't found real buyers yet.
privacy chains keep getting built for institutions that haven't shown up to buy them yet.
#Midnight #TechnicalAnalysis
$NIGHT sits at $0.01700 right now, up 3.44% on the week. small move but it's green, and that matters because this token has spent most of its short life fighting the wall of supply that hit the market after the Midnight airdrop.
Midnight calls itself the "compliance ready, privacy first blockchain" in its own pitch, and that's the whole bet here. either regulated privacy tech is a real category people pay for, or it's marketing copy that fades once the airdrop farmers finish selling.
my call: NIGHT holds above $0.01700 through this week as the initial dump pressure runs dry. if it breaks back below that level, the airdrop supply is still winning and the compliance story hasn't found real buyers yet.
privacy chains keep getting built for institutions that haven't shown up to buy them yet.
#Midnight #TechnicalAnalysis